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.
Full Article
Sanjeev Gupta’s InfraBuild hit with lawsuit alleging debt default
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Sanjeev Gupta's metals business in Australia faces a new threat as FitzWalter Capital sues InfraBuild for allegedly breaching financing terms, claiming a default and seeking repayment of bonds. The lawsuit adds to the challenges facing Gupta's empire, with InfraBuild denying any default and Moody's downgrading its credit rating. Full Article
Read more