Will the UK middle class suffer from Reeves' inheritance tax raid?

The UK government needs to raise a lot of money, and fast. However, they’ve also promised not to target certain headline personal taxes. So, will Chancellor Rachel Reeves plug a roughly £50bn fiscal black hole with taxes on wealth? Well, reports are emerging that the Chancellor is planning a crackdown on Inheritance Tax, in particular on gifting cash. At the moment, as long as a cash gift is made more than seven years before death, it’s entirely tax-free. However, it’s not just the super-rich who are gifting chunks of their estates before they die; it’s the middle-income taxpayers too. Read more of the story here 👇 https://www.cityam.com/rumoured-changes-to-inheritance-tax-gifting-spark-concern-for-middle-class/ Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam Produced by: Maria Ward-Brennan, Scarlett Wild, Matt Kenyon, Emmanuel Nwosu