Inheritance tax hits new record of £7.5bn as debate over reform swirls UK Economy Like many other taxes, the government has frozen the thresholds at which inheritance tax applies, meaning more estates have been pulled into its orbit as asset prices have increased.
New data: UK tax take rising faster than any other rich country UK Economy Although the UK started the century with tax revenue making up a much lower proportion of national income than other advanced economies, the tax burden has rapidly climbed since the pandemic.