Inheritance tax already up 10 per cent as Reeves looks to squeeze levy in Budget, official figures show
The IndependentSign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Britons are already paying more inheritance tax as Rachel Reeves looks to squeeze millions more from the levy, official figures show. “Ahead of the much-anticipated Autumn Budget, rumours abound that inheritance tax could be under review as the government looks for ways to boost revenue and fill its fiscal ‘black hole’. Whether or not changes are introduced, it’s vital that people understand where their estate stands in relation to the current IHT threshold.” The tax raises around £7bn a year for the Treasury Nicholas Hyett, investment manager at the company Wealth Club, said: “Inheritance tax is an absolute cash cow for His Majesty’s Revenue and Customs, which is why it remains in the spotlight ahead of next weeks’ Autumn Budget. “The great thing about inheritance tax from the government’s point of view is that it’s complicated, with a whole host of rules that could be tweaked to boost the tax take.