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Inheritance tax: Rishi Sunak could make 'wealthy pay' for pandemic

| UPDATED: 15:35, Fri, Mar 12, 2021
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Chancellor Rishi Sunak set out his Budget earlier this month as the UK economy continues to suffer during the pandemic. He announced various policies, including an increase in corporation tax from 19 percent to 25 percent by 2023 – sweetened with £25billion incentives for businesses. Pension lifetime allowances will also be frozen as Mr Sunak looks to increase the amount of people paying duties via a stealth tax. However, the Budget was largely light on major tax changes, despite fears the self-employed could b ....

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Inheritance tax: Savers warned of 'real threat' of tax increases before Sunak's Budget

INHERITANCE TAX (IHT) could see changes that lead to bills, experts have warned, as Rishi Sunak prepares to unveil his Budget. ....

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Will Inheritance Tax see a huge overhaul this year? Experts on what to expect from Budget

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Joe Cobb, Partner at JMW Solicitors, said he believes Mr Sunak will reduce relief options for people.
He told Express.co.uk: “There has been much speculation about what the Chancellor might change in the Spring Budget, with Inheritance Tax (IHT) appearing high up the possible list of changes.
“It is possible that the Chancellor might seek to restrict access to certain IHT reliefs, for example, the generous 100 percent relief applying to holdings of shares listed on the Alternative Investment Market, or seek to tinker with the tax-free amount.
“The introduction around five years ago of the Residential Nil Rate Band - to give relief on residential homes up to the value of £175,000 passing to a direct descendant - was effected with poorly drafted and complex legislation, and it has the effect of lifting many people out of the scope of IHT. ....

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Inheritance tax an 'easy hit' as experts warn of Rishi Sunak raid

| UPDATED: 12:39, Fri, Feb 26, 2021
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Rishi Sunak is poised to announce his Budget on Wednesday as the country reels from the economic impact of the coronavirus crisis. Reports are suggesting it is likely the self-employed and pension pots could be targeted to raise funds after the UK economy suffered its biggest slump in over 300 years. Mr Sunak is yet to shed any light on whether inheritance will be affected or not in his Budget – but experts have discussed what reforms could be undertaken. MPs on the all-party parliamentary group for inheritance and intergen ....

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Inheritance tax warning: Rishi Sunak could leave savers 'fully exposed'

| UPDATED: 18:16, Wed, Feb 24, 2021
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Chancellor Rishi Sunak could make big changes to inheritance tax, impacting many savers in the UK amid the economic downturn from the pandemic. The economy suffered its biggest slump in over 300 years in 2020, although the UK has narrowly avoided a double dip recession. Britain s GDP dropped to 25 percent lower in April 2020 than it had been two months earlier in February 2020. Economic activity picked up over the spring and summer, reflecting the opening up of the economy and pent-up demand from the first lockdown. ....

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