Healey urged to drop ‘death tax’ holding back family businesses Economics John Healey has been urged to drop a so-called “death tax” which business leaders say means family firms are losing out to overseas investors. The Chancellor has been told to unwind sweeping reforms to inheritance tax, made by his predecessor Rachel Reeves, which family businesses say undermine the government’s attempts to drive economic growth through [...]
Inheritance tax enquiries surge to six-year high after HMRC clampdown Economics Tax authority probes into households’ inheritance tax returns have surged to a six-year high, after a government-led crackdown on avoidance and non-compliance. HMRC opened a total of 4,940 formal inheritance tax enquiries over the last financial year, according to new data obtained by chartered accountants Price Bailey, an 18 per cent increase on the previous [...]
Inheritance tax changes are showing family businesses the door Opinion From 6 April inheritance tax relief on agricultural and business assets is being slashed. The very businesses that benefit the UK’s economy are the ones that are most exposed to these IHT changes, says Mark Goddard For more than three decades, business relief on inheritance tax has acted as the safety valve which allows entrepreneurs [...]