Britain’s Chancellor of the Exchequer Rachel Reeves unveiled a £22 billion deficit in the state budget, left by the previous government, requiring urgent measures. Reeves plans to close the gap by cutting infrastructure projects, education reforms, and energy subsidies for seniors. She also targets tax hikes, including inheritance tax, to raise additional funds.
Inheritance tax, a target
Inheritance tax, which currently reaches 40% for sums over £325,000, is under scrutiny for potential reforms. Financial advisers are already preparing tax optimization solutions ahead of the upcoming budget presentation. Wealthy individuals are exploring options like investing in exempt assets to minimize tax liabilities.
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