Inheritance tax increases expected for some in Budget

Published On Oct 17, 2024, 4:40 PM

The UK government is considering increasing inheritance tax, which currently charges 40% on estates above £325,000, as part of plans to raise more revenue amid a predicted £40 billion shortfall. The government is also reported to be considering changes to National Insurance for employers while avoiding direct tax increases for individuals. The upcoming Budget on October 30 is expected to address these issues, with Labour facing criticism for proposing these tax increases without prior public disclosure during the election campaign.