The total receipts from inheritance tax during the second quarter of this year reached a new record high level.
HMRC has published the figures for the quarter, and they show takings of £2.3 billion from inheritance tax. This represents a £96 million increase on the total for the same spell in 2025. As some tax specialists are pointing out, this is because more people are now being forced to pay inheritance tax on the estates of deceased family members.
One of those tax experts is Tom Trewby from Forvis Mazars. He told Money Marketing that freezing the threshold for this tax at a time when the price of assets like property is rising had drawn more people into its orbit.
Trewby went on to say:
“The IHT landscape will shift from April 2027 as pensions fall into scope. This won’t only mean higher IHT tax bills, but headaches for executors who will have an additional legislative burden.”
He argued that families with estates need professional guidance. This can include having an estate administered by Probate solicitors in North Wales. They will have the knowledge of the tax system needed to calculate what is owed and complete all the necessary forms.
Trewby concluded by stating that getting advice may also be able to reduce the inheritance tax burden, by identifying tax exemptions and reliefs that can be exploited.
If you want reputable solicitors in Porthmadog who will Probate an estate without losing sight of the need for customer care at every stage, give Bennett Smith Solicitors a call right now.
