The inheritance tax (IHT) freeze will remain in place until 2028 as part of what chancellor Jeremy Hunt has called a range of “difficult decisions” around tax needed to stabilise Britain’s troubled economy.
Hunt confirmed the freeze in the Autumn Statement today (17 November) - his first as chancellor and the first for the Sunak government. The move is likely to net more than £1bn for the government by the end of the 2027/28 tax year, Office for Budget Responsibility forecasts show. The standard IHT rate is 40%, with the decision on the freeze an expected one which comes against the backdrop of one of the most turbulent economic years in British history. Despite this, discussions around tax cuts and an overhaul of the tax system in late summer under former prime minister Liz Truss had r...
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