The Chancellor has kept the inheritance tax threshold frozen to raise revenues
The government has issued its latest update on how much money has been raised through inheritance tax amid calls for major reforms.
Despite lots of debate before the Spring Budget around reducing or even scrapping inheritance tax, chancellor Jeremy Hunt has kept the threshold at which the property and capital of dead people is taxed frozen for another year. If this stealthy approach to taxing estates continues, the Institute for Fiscal Studies have said government revenues could double to £15 billion by 2032.
The IFS has said that a further £4 billion could be raised from the tax if loopholes to evade it were closed by the government. The IFS said: "These reliefs are most heavily used by the biggest estates.
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