Reeves 'exploring options on shake-up of inheritance tax'

THE Treasury is reportedly exploring options to raise additional revenue from inheritance tax ahead of the autumn budget.

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According to The Guardian, officials are examining whether tightening rules around the gifting of assets and money could help address the UK's multi-billion-pound fiscal shortfall.

Government U-turns over winter fuel payments and welfare reform have left Chancellor Rachel Reeves with a spending gap to fill, with pushes for a "wealth tax" being made by some Labour MPs.

Among the reported inheritance tax measures under consideration is a potential cap on life time gifts, part of a broader review into how assets can be transferred before death to minimise inheritance tax liabilities.