Inheritance tax should be reformed to reflect inflation, a lawyer has argued as receipts rose to a record £5.4 billion.

HM Revenue and Customs figures showed that revenue in 2018-19 rose by 3 per cent from £5.2 billion the previous year. Of the £5.4 billion collected, 72 per cent was from estates worth more than £1 million.

In 2016-17, 4.6 per cent of deaths resulted in a charge. The figure was 5.9 per cent before the financial crisis but fell to 2.7 per cent in 2009-10.

Rebecca Fisher appears in The Times commenting: "There is a real question as to whether the nil-rate band should be increased to reflect inflation."

Call for inheritance tax reform as revenue hits £5.4 billion is available to read on The Times website via subscription.

Rebecca is a partner in the private client group advising families and individuals on all aspects of private client law including willsestate planningadministration of estatestrusts and powers of attorney.