Morning Star UK quotes Julia Cox on the impact of potential inheritance tax rises in the UK Autumn Budget
Among the many tax changes expected at the UK Autumn Budget on Nov. 26, it’s likely the chancellor might make further changes to inheritance tax (IHT) rules in a bid to raise revenue for the government.
Potential options open to Rachel Reeves include changing rules over gifting and freezing allowances, which is likely to make more estates liable to pay IHT.
Julia Cox, Partner in our Private Client team, comments for UK Morning Star:
If introduced, a lifetime cap on tax-free gifts (...) would mark one of the biggest shifts in personal taxation in decades.
"The surge in gifting ahead of the Budget reflects growing unease about possible tax changes. Families and business owners are acting quickly while current reliefs remain, highlighting how sensitive wealth planning has become to policy signals.
In 2024’s Autumn Budget, the chancellor brought private pension savings into the scope of the IHT regime, a change due to take effect in 2027.
Read the full piece in Morning Star UK here.
