Fears Grow Over Reeves’ Growth-Destroying Inheritance Tax Plans
New data today from HMRC shows that inheritance tax revenue is soaring to new heights thanks to the Tories’ threshold freeze, which continues to drag increasing numbers of estates into payment. Receipts have jumped to £2.8 billion, £200 million up from the year before…
Rumours abound in industry circles that Reeves is drawing up plans to eliminate “loopholes” in IHT which allow for productive investment, including a relief on shares held in the junior Alternative Investment Market which allows them to be passed on tax free as long as they’ve been held for at least two years. AIM has already been riddled with delistings – experts say scrapping the relief will cause “irrecoverable damage”…
Meanwhile the leftist Resolution Foundation is now lobbying Reeves to remove the £175,000 additional inheritance tax allowance for families with children, which it claims “costs” the Treasury £2 billion and is “complex and distortionary.” Dragging everyone into payment – no wonder consumers are dreading the budget…
