Bumper year for inheritance tax receipts

Inheritance tax receipts reached £5.2bn in 2017-18 according to HMRC’s latest statistics. This is an increase of 8% (£388m) on 2016-17 and continues the upward trend since 2010-11.

There was a 22% increase in receipts from 2014-15 to 2015-16 which HMRC said reflected an estimated 43 900 excess winter deaths in 2014-15.

HMRC has published the annual inheritance tax data which shows that the number of liable estates rose every year since 2009-10. In 2015-16 4.2% of deaths in the UK were liable to the charge up 0.3% on 2014-15. In 2015-16 24 500 estates paid inheritance tax the average bill being £179 000. Residential property accounted for 54% of the increase in capital value of estates since 2009-10.

London and the South East had the highest number of estates liable to inheritance tax. In 2015-16 51% of the total liability was concentrated...