The inheritance tax freeze will remain in place until 2028 as part of what Chancellor Jeremy Hunt has called a range of “difficult decisions” around tax needed to stabilise Britain’s troubled economy.
Hunt confirmed the freeze in the Autumn Statement today (17 November) - his first as chancellor and the first for the Sunak government. The standard IHT rate is 40%, with the decision on the freeze an expected one that comes against the backdrop of one of the most turbulent economic years in British history. Despite this, discussions around tax cuts and an overhaul of the tax system in late summer under previous prime minister Liz Truss had raised hopes that IHT would be reduced or even abolished. Autumn Statement 22: Freeze on income tax thresholds extended Speaking on his IHT...
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