More than half of taxpayers support abolishing inheritance tax as a record number of families are forced to pay death duties.
A YouGov poll of 2,200 people found 54pc of the public want the tax to be scrapped, up from 49pc a year ago.
It comes as HMRC collected a record £8.2bn from grieving families in the 2024-25 tax year. The figure is expected to reach nearly £14bn by the end of the decade.
The rise in receipts has been driven by the freeze on tax thresholds. The £325,000 nil-rate band, the amount you can pass on tax-free, has been frozen since 2009. If it had risen with inflation, it would stand at £523,130 today.
b’
‘
Reform UK is the only political party that has vowed to abolish inheritance tax if it wins the next general election.
Nigel Farage told The Telegraph he was not surprised by the survey’s findings and it was “absolutely” his intention to remove the “immoral” tax.
He said: “The old theory was that inheritance tax was for the rich, it doesn’t affect us because we are ordinary folk.
“What [successive governments] have done by freezing the levels is drag your semi-detached suburban house in Greater London into the net. In many cases they are now above the threshold.
“And if you don’t sell that property and pay 40pc tax on it within six months, HMRC will charge you interest every day. Can you imagine anything crueller, nastier and unpleasant than that? I think it’s an immoral tax.”
The survey, commissioned by law firm Kingsley Napley, also revealed that 76pc of the public oppose increasing the 40pc tax rate, and 67pc want Rachel Reeves to increase the nil-rate band.
The research comes just seven weeks ahead of the Chancellor’s autumn Budget, with speculation rife that she could impose a lifetime cap on the value of gifts that can be passed on before death.
Currently, gifts made seven years before someone’s death are not subject to inheritance tax.
There is also speculation Ms Reeves could target the “gifts out of surplus income” rule which allows an individual to give away unlimited amounts of money so long as the gift is made regularly and does not affect their standard of living.
It comes after Ms Reeves announced in her Budget last year that pensions would be subject to inheritance tax from April 2027, with farms and businesses having their relief significantly cut from next April.
James Ward, a partner at Kingsley Napley, said: “Inheritance tax is effectively this country’s wealth tax. It is only paid by one in 20 estates and while it is not a big money spinner for the Treasury in the grand scheme, it will no doubt be tempting for the Chancellor to squeeze more revenue out of these estates given her other pledges.
“Ms Reeves is unlikely to give two hoots about growing public opposition to inheritance reform, despite the fact it is evenly spread in the voter community. The next election is also likely too far off for her to choose political over economic value in outflanking Farage.”
