Overview

• HMRC data show £3.7bn collected in April–September 2025, about £200m more than the same period last year.
• The £325,000 nil‑rate band is fixed until 2030 and the £175,000 residence allowance has not risen since 2020.
• Private pension pots are scheduled to be included in estate valuations from April 2027, a change the government estimates will raise about £1.5bn by 2030 and pull more estates into scope.
• The OBR projects annual inheritance tax receipts rising to roughly £9.7bn within five years, reinforcing expectations of a new peak.
• Capital gains tax receipts rose 8% to £922m in the first five months, while advisers flag possible pre‑Budget adjustments as speculation and urge measured estate planning rather than reactive moves.