The Treasury is exploring ways to increase revenue from inheritance tax (IHT) as part of efforts to address the UK deficit, according to sources familiar with the discussions.
Among the proposals under consideration is a review of the rules governing the gifting of assets. One potential change involves introducing a lifetime cap on the total amount an individual can donate without incurring IHT.
These possible reforms would add to measures already implemented by the government to close existing IHT loopholes. The Treasury has not confirmed the details or timeline of any changes.
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