Emeritus Prof Christopher May@ChrisMayLA6@zirk.us
The Govt. is briefing that Rachel Reeves is looking at how to increase the tax take from inheritance tax. At the very least we can expect the continued holding of thresholds (allowing 'fiscal drag' to increase income); but there is also some indication that she has a team looking at how to narrow the gap between the 40% income tax rate for the wealthy & the effective 13% rate paid by the average estate via IHT.
While I think she is right, it will be a difficult political sell!
#tax #politics