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The amount paid in inheritance for April 2021 to December 2021 was £4.6bn, according to HMRC statistics.
Noting that is £0.6bn higher than the same period a year earlier Julia Rosenbloom, tax partner at Smith & Williamson, said: ‘One of the key factors behind the latest hike in inheritance tax receipts is likely to be the fact that both the nil rate band and residence nil rate band have been frozen until at least April 2026, resulting in many families receiving increased inheritance tax bills as more estates are brought into scope on the back of rising property and share prices.’
