Inheritance Tax: What Changes Could Labour Make in the Upcoming Budget?

Описание: With the upcoming Budget, the UK government faces a challenging task. Economists warn of difficult choices, and Chancellor Rachel Reeves has hinted at tax rises and spending cuts. In this video, we explore the potential changes to inheritance tax (IHT) and how it could impact families.
Inheritance tax is a complex topic, and we'll break it down for you. Did you know that only around 4% of families end up paying IHT? We'll explain the tax threshold and how it affects estates.
We'll also delve into the changes Labour has already made to IHT, including the controversial 'tractor tax' and the freeze on the tax-free allowance. Plus, we'll discuss the potential future changes, such as a lifetime cap on gift values and the extension of the freeze on allowances.
Stay informed and understand the potential impact on your finances. Join us as we navigate the world of inheritance tax and its potential changes.