Inheritance tax now touches more deaths than at any time since 2007
New HMRC figures show 4.72% of UK deaths led to an inheritance tax bill, the highest share in 18 years.
Official figures published by HMRC on Thursday show that inheritance tax reached further into ordinary families than at any point since 2006-07. The share of UK deaths that resulted in an inheritance tax liability stood at 4.72% in 2023-24, the highest since 2006-07, when it peaked at 5.96%.
The tax raised £7.03 billion that year, a rise of 5% on the previous year. Notably, that increase came even though the number of estates actually paying the tax fell. HMRC put the higher share partly down to a fall in the total number of UK deaths, which makes the taxpaying estates a bigger slice of a smaller pie.
For most households, none of this means an inheritance tax bill is coming. Fewer than one death in twenty triggers one. But the direction of travel is the point: with thresholds frozen and property and pension values where they are, more families are finding themselves closer to the line than they expected.
Based on reporting by Bloomberg Tax (30 July 2026). Information only, not advice.
Information only. This is general information, not financial, tax or legal advice, and not a personal recommendation. Tax rules depend on your individual circumstances and can change. Please speak to a qualified, FCA-regulated adviser or a solicitor before acting.