Homeowners face massive inheritance tax hike after Budget hit November 21, 2024 London homeowners are going to be hit with an eye-watering 1,840 per cent increase in inheritance tax (IHT) liability, as a direct result of Rachel Reeves’ Budget changes, it has been calculated. A single homeowner in the capital with an averaged priced home of £525,586, with the same amount in their pension, will have a [...]
Inheritance tax receipts rise as Brits warned to ‘make plans to pass on wealth’ November 21, 2024 Inheritance tax receipts have risen again as experts are warning Brits to better plan for the passing on of wealth, after the Autumn Budget changes. Fresh figures released this morning show inheritance tax receipts for between April and October of this year are £5bn, which is £500m higher than the same period last year. This [...]
Starmer’s war on farmers will end in tears November 20, 2024 Farmers are busy people, often completely immersed in a lifestyle and a sector that demands their total attention and dedication. They kept going throughout the pandemic. They’ve been untroubled by the great working-from-home debate. They’ve put up with policy changes, regulatory reform, subsidy reform, Brexit checks, weather events, supply chain disruption, Whitehall bureaucracy, rising costs [...]
Tractors circle Westminster as farmers protest inheritance tax rise November 19, 2024 Thousands of farmers marched on Westminster today in protest against the government’s plans to impose inheritance tax on farms. The Chancellor Rachel Reeves has been urged to meet with representatives from the industry after she unveiled plans in the Budget to impose inheritance tax (IHT) on farms worth more than £1m from April 2026. The [...]
‘Disaster Budget will kill UK farming’, warns chicken king Boparan November 12, 2024 Entrepreneur Ranjit Singh Boparan, whose empire ranges from Bernard Matthews to Carluccio’s, has warned the autumn Budget is a “disaster for business” and will “deliver a final fatal blow to the thousands of small family-owned farms”. Boparan added that the “inheritance tax raid” on farms announced in the Budget on 30 October “risks supply being [...]
UK farms could shrink ‘like Russian dolls’ amid tax row, government warned November 7, 2024 The UK’s farms could be set to shrink “like Russian dolls”, the government has been warned, thanks to Labour’s inheritance tax changes announced in the Budget. Shadow business secretary – and former City minister – Andrew Griffith has cautioned that the policy could mean “like Russian dolls, with each generation that passes, you end up [...]
No10 warned over risk of ‘killing off’ family-run firms November 4, 2024 Downing Street is attempting to weather a storm whipped up by entrepreneur James Dyson over changes to the inheritance tax treatment of family-run businesses. In an article in the Times, Dyson accused the government of “killing off family businesses, individual aspiration and economic growth” with their approach to death duties in the Budget. The high-profile [...]
No10 hits back as Dyson boss slams ‘ignorant’ and ‘spiteful’ Budget November 4, 2024 Sir James Dyson has branded Rachel Reeves’ first Budget “ignorant” and “spiteful” as he accused her of “killing off family businesses, individual aspiration and economic growth”. The British entrepreneur, 77, hit out at the Chancellor following the government’s first fiscal event last week, writing in the Times newspaper that Labour “hates British families”. He cautioned [...]
Labour’s inheritance tax reforms ‘threaten the very fabric of the countryside’ October 31, 2024 In yesterday's Budget, the Chancellor announced a sweeping overhaul of the inheritance tax system, including changes to a relief which had allowed agricultural land to be passed on tax-free.
Autumn Budget 2024: Sweeping overhaul of inheritance tax regime revealed October 30, 2024 Alongside the changes to pension pots, the Chancellor said she was changing the taxation of gifts passed on during someone's lifetime.