UK Families to Lose HMRC Inheritance Tax Allowance in 'Double Whammy' - Yorkshire Live

UK families to lose HMRC inheritance tax allowance in 'double whammy' - Yorkshire Live

More than 16,000 estates expected to be hit by Labour's pension tax raid and frozen allowances by 2030

Rachel Reeves to raid 16,000 more families for inheritance tax, HMRC data shows

The number of families set to lose a key inheritance tax relief is projected to quadruple by the end of the decade as more estates breach the £2million threshold.By 2030/31, more than 16,000 estates are expected to exceed £2million in value, triggering the withdrawal of the £175,000 residence nil rate band, according to analysis based on HM Revenue and Customs (HMRC) data.That compares with 3,620 households affected by the taper in 2022-23.The i…

Do you face ‘double whammy’ inheritance tax blow? How to lessen the impact

Frozen tax thresholds and pensions falling within the scope of inheritance tax will drag thousands more estates into losing their residence nil-rate band, analysis suggests