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THE NUMBER OF ESTATES LIABLE FOR THE LEVY IS EXPECTED TO SURGE TO MORE THAN 37,000. 11:39, 03 Jun 2025 Thousands more UK households are set to be hit by inheritance tax from HMRC and the
Labour Party government. The number of estates liable for the levy is expected to surge to more than 37,000. A report by Irwin Mitchell suggests that the number of estates liable for the
levy is expected to surge to more than 37,000, up from just over 24,000 in 2021/22. The legal firm analysed data covering 177,000 estates across all 121 UK postcode areas. It found that nine
in ten will see a rise in IHT cases by 2026/27 compared to five years earlier. READ MORE UK FACES 'SPANISH SCORCHER' HEATWAVE WITH 31C AS EXACT DATE IT STARTS ANNOUNCED In Greater
London alone, the total amount paid is forecast to jump by 54% over five years, reaching £2.6bn annually. Andrea Jones, national head of Irwin Mitchell’s Private Client Advisory team, said:
“The increase in Inheritance Tax liabilities across the UK is a significant concern for many families. Article continues below "Our findings highlight the urgent need for individuals
to seek professional advice to navigate these changes and plan effectively for the future. "With the threshold freeze extended until 2030 and changes to Business and Agricultural
Property Relief from April 2026, it’s more important than ever to understand the implications and take proactive steps to mitigate the impact on estates.” Labour Party MP and Treasury
Minister James Murray said: "The Office for Budget Responsibility (OBR) has been commissioned for an Economic and Fiscal Forecast, which will be published on 26 March 2025. Article
continues below "This is in line with the Budget Responsibility and National Audit Act 2011 which requires the OBR to produce two forecasts each financial year. This will be accompanied
by a statement to Parliament from the Chancellor of the Exchequer. "The government set out its plans for inheritance tax in Autumn Budget 2024, including fixing the nil-rate band and
residence nil-rate band at their current levels for a further two years in 2028-29 and 2029-30." "The Government remains committed to one major fiscal event a year to give families
and businesses stability and certainty on upcoming tax and spending changes and, in turn, to support the Government’s growth mission."