Agricultural and business relief
The Centre for the Analysis of Taxation (CenTax)’s proposal to restructure agricultural and business reliefs which could give Rachel Reeves pause for thought … and potentially more tax revenue
IHT rate reduction through charitable legacies
The rules for securing a 10% reduction in the IHT rate, from 40% to 36%, provided a charitable legacy of at least 10% of the estate is made on death
IHT receipts anticipated to reach £9 billion by 2027
How increasing asset values, the freezing of the nil rate band until 2030, changes to business and agricultural property relief and the new long term residence regime are set to increase UK IHT receipts to £9 million by 2027