Inheritance Tax UK: How to prepare for increase as Rishi Sunak pressured to rise levy
- On January 13, 2021
- By GrowthInvest Marketing
INHERITANCE TAX is not well-liked by Britons, however, with the Chancellor appearing to be pressured to increase the levy, many will be looking for ways to reduce their bill.
Inheritance tax is charged on the estate of a person who has passed away and currently stands at 40 percent above a certain threshold. Undoubtedly, with the impacts of the pandemic, government spending has soared, and some have suggested a rise to Inheritance Tax alongside other levies is necessary. While such a rise may not be popular, it could be imperative to help the country raise money and get back on track.
In view of this tug of war, Express.co.uk spoke to Elaine Roche, Director of Solicitors for the Elderly at Partner at Kuits, about Inheritance Tax.
She provided insight into the potential for an Inheritance Tax rise, alongside a speculated increase to Capital Gains Tax, and the small ways Britons can prepare themselves for such an increase.
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