Receipts for Britain’s “most hated tax” hit £5.2 billion in the first seven months of the tax year, figures have revealed.

His Majesty’s Revenue and Customs ( HMRC ) got £200 million more in inheritance tax (IHT) between April and October, compared to the same period in the previous tax year.

IHT, often dubbed the country’s “most hated tax”, has been on the rise for the last two decades.

Chancellor Rachel Reeves confirmed last year pension assets would be made liable for inheritance tax by April 2027.

Nicholas Hyett, investment manager at Wealth Club said: “The ‘hokey-cokey’ Budget is just days away, and recent IHT history provides the blueprint we expect the Chancellor to follow.”

He added: “The reality though is that the government is close to the bottom of the barrel where IHT

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