HMRC data released on 22 September showed IHT receipts continuing to rise, with frozen thresholds contributing to higher tax revenues. June also recorded the highest monthly IHT receipts on record.
Wesleyan’s Nick Henshaw said the figures reflected a longer-term trend, with frozen thresholds, property wealth and upcoming pension changes bringing IHT into focus for more clients.
With pensions due to enter the IHT net in six months and further Budget changes possible, Henshaw urged advisers to review clients’ pension and estate plans rather than make rushed decisions.