Industry experts have voiced their concerns over HMRC’s latest statistics showing the amount raised by inheritance tax (IHT) hit another record high in 2023-24, rising 5% to £7.03bn. This £0.33bn increase is partly attributable to frozen tax thresholds and rising asset values. She added the latest figures should also give pause for thought to those advocating for new forms of wealth taxation. The figures suggest that frozen thresholds are achieving many of the same outcomes as a wealth tax by stealth and policymakers will need to consider whether that aligns with the policy intent, and if breaking up illiquid assets like family businesses to fund a tax bill is really a desired outcome.” Tax director Reena Bhudia said Goodman Jones is seeing more people take a fresh look at how they plan to pass on wealth.