Financial advisers with clients who have been pursued by HMRC over inheritance tax liabilities in relation to Employee Benefit Trust (EBT) scheme have been invited to join a group action tribunal appeal against the taxman.

Inheritance tax (IHT) receipts for April to August rose 12% year on year to £2.9bn, according to new data this morning from HMRC.

IHT receipts in the latest quarter (April to July) jumped to £2.4bn, up £300m year on year, as the rapid upward trend in IHT continued. 

Nearly 62,000 trusts (61,692) have been registered with HMRC in the first six months of 2022 as the deadline to register a trust approaches.