Inheritance tax (IHT) receipts leapt to £4.1bn between April and October, according to figures released by HMRC today.

Chancellor Jeremy Hunt announced an extension in his Autumn Statement to the freeze on Inheritance Tax thresholds to April 2028.

Business relief is now being used by the majority of wealth managers and financial advisers as an inheritance tax (IHT) planning tool for clients, according to new research.

Financial advisers and industry experts have expressed concern about the ‘stealth tax’ threat from Inheritance Tax after receipts grew to £3.5bn for the latest six month period, up £400m year on year.