INHERITANCE TAX heirs are being hit by “hefty bills”, experts are warning as Rishi Sunak continues to plot his next economic intervention.

The UK is in the midst of an economic crisis as a result of the coronavirus pandemic, putting the country in a double dip recession. The concerning state of the economy was once again highlighted recently as the national debt jumped to more than £2trillion. The budget deficit – the annual shortfall between spending and tax income – is expected to reach more than £400billion this year. This has led many to question how Chancellor Rishi Sunak will look to revive the economy, with many fearing imminent tax hikes.

Mr Sunak has not yet revealed what tax policies he intends to change.

Last month he refused to reveal any information on incoming changes, saying current levels of spending were “unsustainable”.

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