Inheritance tax receipts reach fresh record high as Autumn Budget approaches

Inheritance tax receipts rocketed to a new record high in the three months to September 2026, as rising asset values and frozen thresholds expanded the tax to hit more ordinary households. Receipts hit £4.7bn over the period, according to the latest figures from HMRC, a seven per cent increase from the prior year where receipts reached £4.3bn. In September alone, inheritance tax (IHT) receipts hit a record monthly high of £936m, up from £671m in 2025. This also surpassed the previous high of £871m recorded in June. “IHT… remains a persistent and unavoidable inheritance tax planning issue, and one that should not be ignored,” said Samantha Warner, legal director at Winckworth Sherwood. The Office for Budget Responsibility (OBR) forecast that receipts will hit £9.5bn by the end of the 2026/27 financial year, up from £8.5bn the previous year. Increased exposure The rise has long been blamed on Rachel Reeves’ decision to extend the freeze on income tax thresholds to 2031