Spring Budget 24: No changes to inheritance tax despite rumours

IHT receipts increased to £6.3bn between April and January, up £400m on the same period the year before, the latest HM Revenue & Customs data revealed. Despite rumours that the government may cut the headline rate or scrap IHT entirely in today's budget, the chancellor did not unveil any cuts to the tax. Although an IHT reform was rumoured, many had warned that the cuts would be too costly for the government at this time. Abrdn head of savings policy Alastair Black said last month (21 February) that a decision to abolish IHT in the Spring Budget "would rock the financial advice sec...