HM Treasury’s spring forecast, published this week, predicts that inheritance tax receipts will rise by 4.6 per cent to £9 billion in 2025/26. They predict this number will rise to £15 billion in 2030/31 due to rising equity and house prices, a growing proportion of deaths being subject to inheritance tax, the coming extension of inheritance tax to inherited pensions, and restrictions on agricultural property relief and business property relief. These reforms will account for around 14 per cent of total inheritance tax revenue by the end of the forecast.
Have a look at the precise wording at the OBR’s ‘Economic & Fiscal Outlook’ March 2026 – Chapter 3.28-3.30.
Stephen Parnham
