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Chancellor Rachel Reeves confirmed that the Labour authorities would lengthen the present inheritance tax threshold freeze for an additional two years to 2030.
This implies the primary £325,000 of any property might be inherited tax-free, rising to £500,000 if the property features a residence handed to direct descendants, and £1m when a tax-free allowance is handed to a surviving partner or civil accomplice.
Nevertheless, the Chancellor outlined reform to agricultural property and enterprise property aid.
She advised the Home: “From April 2026, the primary £1m of mixed enterprise and agricultural belongings will proceed to draw no inheritance tax in any respect, however for belongings over £1m, inheritance tax will apply with 50% aid, at an efficient fee of 20%.”
Reeves mentioned these measures would increase over £2bn.
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