HM Revenue and Customs has decided to raise the rate it charges from those who fail to pay an inheritance tax bill within the 6-month deadline by 3 percent.

When a family member dies and leaves an estate worth over £325,000 then his/her family is required to pay tax on a proportion of the property within 6 months. Late bills are charged interest.

So far, property worth more than £325,000 was taxed at 40 percent.

The current move of the HMRC has been described as "unjustifiable."

The raised tax will be charged from September onwards.

In short, HMRC will charge at a rate of 2.5 percent above the Bank's rate that is 0.5 percent. On the other hand, the interest rate paid on the overpayments will be made at 1 percent below the bank rate, though it will not go below 0.5 percent.

Speaking on the topic of increased tax, Taxpayers' Alliance' Susie Squire said, "I think it's a desperate move and a seriously retrograde step for the Government. It's basically one rule for them and another for everyone else."