“They may reflect changing asset values or exemptions and tax reliefs being allowed. The increase in the number of repayments could also reflect changes in HMRC administrative processes.”
But IHT can be complex, and it is important for Britons to understand how the tax system works.
Ms Neale added: “Broadly speaking, IHT is designed and administered so that where assets are realised by the executors within a reasonable period of death IHT is charged on the sale price, rather than the value at death.
“This is because for many asset classes, such as property, valuation is an art and not a science and their value is a matter of opinion and negotiation.