Exclusive: Chancellor also looking at tweaks to capital gains tax to try to bridge £40bn-plus spending gap before budget
The Treasury is looking at ways to raise more money from inheritance tax amid growing pressure on the country’s finances ahead of the autumn budget, sources have told the Guardian.
Officials have been tasked with examining whether tightening rules on the gifting of money and assets could be one way of addressing a gap between revenue and spending that is estimated to reach more than £40bn.
Although no decisions have been taken, the government has been careful not to rule out tax rises later this year amid slowing economic growth, higher-than-hoped inflation and unemployment at a four-year high.
Labour MPs have been pushing the idea of a wealth tax, but changes to inheritance tax (IHT) thresholds could be similarly controversial.
