Investment - Articles - IHT records second highest ever month of receipts in April

 Stephen Lowe, Director at retirement specialist Just Group, said: “The Treasury has enjoyed four years on the trot of record Inheritance Tax receipts and this April’s figures show a rapid start to 2025/26 with the tax raising over three quarters of a billion pounds this month alone. Rising IHT receipts to-date have been driven by the pincer movement of the ongoing freeze on thresholds alongside growth in asset prices. Further reforms announced at the Autumn Budget are likely to accelerate the Inheritance Tax haul even further over the coming years, especially proposed changes to the treatment of pension death benefits later this decade. Anyone who is concerned their estate may be subject to IHT should make an up-to-date valuation of their estate, including a recent assessment of their property wealth, to understand if they may be liable to IHT. Estate planning is complex and many people who want to manage their estate efficiently will benefit from professional financial advice.”

 Simon Martin, Head of UK Technical Services at Utmost Wealth Solutions commented: “The 2024/25 tax year was the fourth-consecutive record-breaking year for Inheritance Tax receipts and April’s figures show no signs of this momentum slowing down. The growth in IHT receipts, and forecasted tax-take acceleration from the OBR, will be welcome news for the Chancellor. It doesn’t appear yet that the widely documented outflows of non-doms and high-net-worth-individuals from the UK, following the measures announced in the Autumn 2024 Budget, have caused a dent in these receipts. With thresholds frozen and asset prices continuing to climb, more estates are likely to need to consider whether they will be impacted by Inheritance Tax over the coming years and plan accordingly. We are seeing significant demand for advice in the wake of these changes and that is likely to remain high as individuals look to adapt their succession and estate planning strategies.”