Inheritance tax increases expected in Budget

Quick Summary:

It is not known how many people are likely to end up paying more under the government's plan.

If a person gives away more than £325,000 in cash or gifts but dies within seven years, recipients could be liable to pay inheritance tax.

The tax includes a series of exemptions which over the years several governments have considered changing in order to raise more money.

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Article Details

Category: Business

Markets: United Kingdom

Topics: Government Changes First Planning Insurance People National Election Money Chancellor Inheritance

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-17 @ 20:40:34 (14 hours ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 742 words

Reading Time: 5 minutes read

Sentences: 32 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 23110061

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Official Website: bbc.co.uk

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Headquarters: United Kingdom

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