New HMRC data has revealed that inheritance tax (IHT) receipts for the 2021 to 2022 tax year were £6.1 billion – a 14 percent increase from the year before.

This meant IHT has risen by £729 million year on year.

This represents the largest single-year rise in IHT receipts since the 2015 to 2016 financial year.

Julia Rosenbloom, a tax partner in the professional services arm of Evelyn Partners, stressed that families need to plan for the uncertain time ahe...