Inheritance Tax Rises And The Budget - Who's Affected?

16th November 2024

The IFS discusses Inheritance tax changes in the UK budget,

In the recent budget, Chancellor Rachel Reeves announced a £40 billion tax increase, pushing tax as a share of national income to an all time UK high.

Just 6% of that came from an increase in inheritance tax, and just a small fraction of that will come from farmers. And yet it is the tax increase on farmers that has dominated the news headlines. But beyond the change to agricultural reliefs, there were some other big reforms as well - to pensions and business reliefs.

So to discuss how inheritance tax actually changed in the budget, who will be affected and whether it was a good idea, Paul is joined by Helen Miller and David Sturrock, colleagues at the IFS.

Pension Pots are one of the big changes discussed. This is a bigger affect than the farmers position for some

IFS.org.uk