IHT threat

Inheritance tax hike warning as Sunak 'needs to pay Covid bill'Inheritance tax could be used by Chancellor Rishi Sunak to raise funds for the UK's economic recovery as Government insiders warned "we've got to start paying the bill for the pandemic". Meanwhile, a Treasury report suggested a rise in inheritance tax would be a “politically sound move, as it would not disproportionately hit lower income families, and could be presented as a wealth tax”. Separately, figures from HMRC show IHT receipts for April to June 2021 were £1.5bn - £0.4bn higher than the same period a year earlier.