Inheritance tax (IHT) has been a big talking point of today's budget, particularly among farmers who now have to pay tax on their estates if they're worth over £1million. The nil-rate band, under which people do not have to pay inheritance tax, has been frozen at £325,000 since 2009 but it "hasn't kept pace with reality" Erin Yurday, CEO and founder of Personal finance researchers NimbleFins, said.

If this nil rate band had risen in line with Consumer Price Index (CPI) inflation since then, it would be sitting at £523,000 - a 61% increase, according to NimbleFins calculations. Due to inflation, NimbleFins found a 115% increase in families paying the tax since 2009, attributed to fiscal drag. Fiscal drag is a stealth tax that occurs when people are pulled into higher tax brackets due to i

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