Inheritance tax receipts for April 2021 to January 2022 rose £0.7bn year on year to £5bn, an increase of over 16%.

Inheritance tax receipts for April 2021 to December 2021 were £4.6bn, £0.6bn higher than in the same period a year earlier.

People with assets of over £250,000 are more likely to discuss their plans for passing on wealth with an adviser than their families, according to new research.

Financial Planners should build in compulsory ‘family updates’ from clients at each review meeting to kickstart the conversation on inter-generational wealth transfer, a leading Chartered Financial Planner has told Financial Planning Today.