What the 2021 Budget means for you telegraph.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from telegraph.co.uk Daily Mail and Mail on Sunday newspapers.
READ MORE
Camilla Bishop, Partner at law firm DMH Stallard, said: “It is highly unlikely that the Chancellor will overhaul the Inheritance Tax regime on Wednesday.
“IHT is complex and the potential ramifications mean any changes need to be carefully thought through – something the Government just has not had time to do in recent months.
“The recommendations in the All Parties Parliamentary Report of January 2020 were radical with the introduction of a ‘gift tax’ and dispensing with Capital Gains Tax uplift on death.
“Such changes would mean it is virtually impossible to pass on wealth without suffering tax.
Inheritance Tax changes: There’s usually no Inheritance Tax to pay on small gifts made out of normal income (Image: GETTY)
MPs demand overhaul of entire approach to pension tax relief ahead of budget
MPs have called on chancellor Rishi Sunak to urgently reform the entire approach to pension tax relief - citing concerns over its impact on doctors - as the government prepares to unveil its 2021 budget.
by Nick Bostock
Sign in to continue
Free email bulletins