INHERITANCE TAX could be in for big changes after an expert warned Chancellor of the Exchequer Rishi Sunak is “not afraid to raise taxes”.
Inheritance tax receipts are proving to be an increasingly lucrative source of revenue for the Treasury and provide funds to the government to help rebuild the country following the pandemic and pay for its planned programme of reforms.
The Prime Minister’s recent announcement introducing a new health and social care levy demonstrates that he is not afraid of tax rises, even if they are unpopular with some members of his own party.
“This raises speculation that when the Chancellor unveils his Budget next month, personal taxes such as inheritance tax and capital gains tax could be in for reform given the amount they raise for the Treasury.
