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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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