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 >
15/10/2026
Six months until next phase of Making Tax Digital rollout
HMRC expects that more than 1m taxpayers will be required to use digital recordkeeping and send quarterly updates to HMRC when the second phase of MTD for Income Tax is extended from 6.4.27.
READ MORE
Applications open for scheme to cut electricity bills for manufacturers
Applications opened on 1 October 2026 for the British Industrial Competitiveness Scheme (BICS) as part of a government project to cut costs for businesses.
Responses to Shadow Chancellor's party conference speech
On 5 October, Shadow Chancellor, Andrew Griffith, delivered his speech to the Conservative Party conference.
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.