HMRC saw a boost in inheritance tax receipts at the start of the tax year, with intake rising to £5 billion between April and October 2024, up 11% annually. Chancellor Rachel Reeves’s Autumn Budget aimed to increase IHT bills by freezing thresholds and reforming reliefs, leading analysts to predict a further rise in receipts. Changes such as the reform of agricultural and business property relief and the inclusion of inherited pensions in IHT may prompt wealthy individuals to rethink estate planning strategies.
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Oil prices find little support from the first drop in U.S. supplies in 5 weeks
Oil futures hit their lowest levels of the year amid concerns about the global economic outlook and the potential for a ceasefire in Russia's war on Ukraine. The market's weak tone is driven by fears that a halt to the conflict could lead to the lifting or easing of sanctions on Moscow, impacting oil prices significantly. Traders are closely monitoring developments in the geopolitical landscape that could influence the direction of oil markets in the...
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