Inheritance tax: Bill for Britain’s ‘most hated tax’ hits record January 22, 2025 HMRC collected £6.3bn in inheritance tax in the last nine months, but with changes to the code announced in Budget, this bill is expected to get bigger.
Morrisons joins farmers in fight against Budget tax hike January 12, 2025 Morrisons shows its support towards the farming community, backing its call for urgent reforms to inheritance tax policies on farms following Rachel Reeves’ October Budget. In a LinkedIn video released on Saturday, Sophie Throup, the supermarket’s head of agriculture, emphasised the major Morrisons’ ongoing advocacy, reeling from the Chancellor’s sweeping inheritance tax levy. In October, [...]
Majority of people want inheritance tax cut exclusive poll finds January 7, 2025 Research from Freshwater Strategy showed that 54 per cent of voters think the controversial tax should be set at a lower level.
‘Christmas comes early’ as inheritance tax receipts jump on threshold freeze December 20, 2024 The amount of inheritance tax (IHT) brought in by the government ticked up to £600m in November, as frozen thresholds pushed more estates into paying the tax. “Christmas has come early for the government,” said Shaun Moore, tax and financial planning expert at Quilter, with the higher tax receipts allowing the amount the government borrowed [...]
‘Hammer blow’: Family firms call for inheritance tax consultation December 16, 2024 Family businesses are urging the government to consult on changes to inheritance tax (IHT), warning the move represents a “hammer blow” to the UK economy. Some 160,000 family-owned firms – represented by 32 trade associations – have written to Chancellor Rachel Reeves to request a formal consultation on IHT changes in the Budget. The letter, [...]
Hedge fund managers could buy land, MPs told, as Tories fail to scrap ‘farm tax’ December 4, 2024 Hedge fund managers could buy up farmland if UK farmers sell up to avoid the inheritance levy, MPs were told, as the Tories brought a vote on the so-called ‘family farms tax’. Conservative MPs used an opposition day debate on Wednesday to bring a Commons vote on Labour’s Budget measure which would see farmers pay [...]
Budget could wipe out 125,000 jobs in family businesses December 2, 2024 The government’s move to limit inheritance tax relief for family-owned businesses could cost Britain roughly 125,000 jobs and significantly reduce economic activity, new research has found. The change unveiled in Labour’s first Budget could reduce the value of goods and services produced across the UK economy by £9.4bn and incur a £1.3bn net loss for [...]
Sea of tax changes? Why getting your ducks in a row on pensions is vital December 2, 2024 Inheritance tax changes may feel a long way away, but sooner is better when it comes to structuring your assets to pass on as much wealth as possible to your loved ones, says Duncan Bailey The Budget has given businesses and individuals much to consider with announcements made around spending, national insurance contributions for employers [...]
Labour urged to scrap ‘vindictive’ farm tax as Tories set to force vote December 1, 2024 Labour MPs are being urged to back scrapping the “vindictive” changes to inheritance tax (IHT) on farms, as the Conservative Party prepares to bring a vote on the issue. Tory MPs are set to use their opposition day debate on Wednesday, December 4, to insist Parliament hold a vote on Labour’s controversial move for farmers [...]
The truth about wealth inequality November 28, 2024 The distribution of wealth in the economy has attracted more and more attention among economists following a wealth boom that lasted for four decades. Between 1980 and 2019, British household wealth increased from three to seven-times national income, as cheap credit helped to fuel consistent rises in house prices. “For much of the past four [...]