Inheritance Tax: Rishi Sunak urged to increase IHT post-pandemic - ‘greater pressure’

In 2018, the report said, only 0.5 percent of total tax revenues were sources from these taxes on average across the countries which use them.

However, with governments under increasing pressure, including the UK where the effects of the pandemic have been significant, a reevaluation of Inheritance Tax may be necessary.

Pascal Saint-Amans, director of the OECD Centre for Tax Policy and Administration, commented, saying: “While a majority of OECD countries levy inheritance and estate taxes, they play a more limited role than they could in raising revenue and addressing inequalities, because of the way they have been designed.

"There are strong arguments for making greater use of inheritance taxes, but better design will be needed if these taxes are to achieve their objectives."