Will IHT reform in October's Statement stop you leaving your money and property to your spouse/partner tax-free ?
Editor's note: For update post-budget,and its implications, see end of text. ---------------------------------------- The Chancellor is up against it trying to find the extra cash she has decided is needed to fill the 'Black Hole'. This is because she has decided to upgrade its value from the original £22Bn to £40Bn in order to fund enhancements to public services, and the additional public sector union pay demands expected in 2025. Both IHT and Capital Gains taxes look like primary targets for extra revenue, and there were strong hints yesterday from government sources that Starmer had plans for ‘multiple changes’ to IHT. In a previous blog I predicted that IHT would be a likely target, given the block on IT, VAT and NI rate changes. I made some speculative guesses about what Reeves might do to increase revenue from IHT, which is a much-hated* tax levied on their assets when someone dies. Sadly, at least some of these predictions are now quite likely to see the light of