Inheritance tax receipts for April 2021 to March 2022 were £6.1bn, a rise of £0.7bn year-on-year, according to the latest figures from HMRC.

Almost 7 in 10 (69%) of over-50s have not taken inheritance tax (IHT) advice, despite many holding assets over the nil rate band.

Inheritance tax receipts rose 35% between April and August, up a third year on year, with Covid-19 deaths a potential factor in the increase.

Financial Planners are forecasting a boom in clients seeking advice on inheritance tax, according to new research.