The sum stands at £1 billion more than in the same period a year earlier, continuing a recent upward trend.

House price increases, inflation and tax freezes have pushed more taxpayers above the £325,000 threshold for inheritance tax, though reports have suggested an increase in the threshold could be proposed by the government ahead of the next general election.

The latest forecasts by the Office for Budget Responsibility released last week show that inheritance tax receipts could reach £7.2 billion this tax year, which is 0.7% of all receipts and also 0.3% of national income.

Commenting on the figures, Alex Davies, CEO and founder of Wealth Club, said: “The revenue generated from inheritance tax plays an important part in the government’s spending programme and so it will be interesting to see if Rishi Sunak will opt to change this in a bid to win popularity in the upcoming polls.

“With a deficit of £125 billion which is equivalent to £1,870 per head of the UK’s population, it could be an expensive tactic.

“No one likes to pay more tax than they need to, but the good news is that with a little bit of planning, there are a number of perfectly legitimate ways to reduce your liability.”