UK inheritance tax burden rises as million‑pound estates without wills double

Data from His Majesty's Courts and Tribunals Service show that estates worth more than £1 million left without a will rose from 332 in 2023 to 781 last year, while total intestate estates increased from about 29,000 to over 43,000. Rising property values and a long‑standing freeze on the inheritance‑tax threshold have pushed more families into the tax net, a phenomenon described as fiscal drag.

HM Revenue & Customs reported that 4.72 % of UK deaths in 2023/24 triggered an inheritance‑tax charge – the highest share since 2006/07 – affecting 30,400 estates with an average bill of £231,000. Tax receipts reached £7 billion and are projected to climb to £14.7 billion by 2030/31, especially after pensions become taxable as part of estates from April 2027. Experts advise using gifting allowances and other reliefs to mitigate future liabilities.