Inheritance tax likely to rise in Autumn Budget

The government is considering changes to inheritance tax rules to increase revenue, potentially targeting exemptions rather than increasing the tax rate. Chancellor Rachel Reeves is looking to address a £22bn overspend and a £40bn funding gap, with possible adjustments to gifting rules and exemptions like business and agricultural property relief. Concerns arise over potential tax hikes and the impact on middle-class families, as current rules allow only 4% of estates to pay inheritance tax.

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