According to the BBC, the government is planning inheritance tax (IHT) increases at the Autumn Budget on 30 October.
The BBC suggested that Chancellor Rachel Reeves is planning an IHT raid as part of her plan to increase taxes and cut spending.
The BBC also hinted that the Chancellor and Prime Minister Keir Starmer are considering various changes to taxation, including changes to exemptions and reliefs.
IHT currently raises around £7 billion a year for the government. A 40% flat rate applies to any estate worth more than £325,000.
The Centre for Analysis of Taxation stated that the current IHT system is ‘broken’. In a paper published recently, the Centre said that uncapped exemptions mean a quarter of estates worth over £10 million pay a rate of 9%.
According to the Centre, allowances such as Business Relief and Agricultural Relief are generating ‘vast discrepancies’ in the amount of IHT paid by families.
25/10/2024
View all >
09/09/2025
Autumn Budget on 26 November
The Autumn Budget will be delivered on 26 November by the Chancellor of the Exchequer, HM Treasury has announced.
READ MORE
HMRC splits electric car advisory fuel rates
HMRC has split fuel advisory rates for electric cars depending on where drivers charge their company cars due to the price discrepancy between home and public chargers.
Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 September 2025.
Sign up to keep in touch to receive our latest news and industry updates.
* *
Yes, I would like to receive email updates providing me with the latest finance news, advice guides and details of future events.