What could the Chancellor announce in the Autumn Statement? ✒️ BradleyGerrard explains
A freeze could also be the weapon of choice whereThe rate at which families start paying inheritance tax has been frozen since 2009. Had it kept pace with inflation, the starting point at which you pay tax should be £460,000 rather than £325,000.
Currently, most families in the UK will not have to worry about inheritance tax. It is only applied to assets worth more than £325,000 and if you are passing on a family home to direct dependants, such as children or grandchildren, you get a further allowance of £175,000. A freeze was continued in the spring Budget last year, with the aim of raising £1bn over four years, but this could be extended by Mr Hunt.Mr Hunt has already confirmed that corporation tax will rise to 25 per cent in April next year.
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