budget

In effect April 2018

Newly-appointed Chancellor of the Exchequer

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The Chancellor George Osborne is set to confirm an increase in the inheritance tax (IHT) threshold to £1m per couple in this week's Budget.

The Conservatives have promised 'no new taxes' this Parliament, but George Osborne's 8 July Budget will still contain tax issues for wealth managers to consider, according to law firm Payne Hicks Beach,

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Parents would be able to pass a main property worth up to £1m to their children without paying any inheritance tax (IHT), under Tory plans in Treasury papers leaked ahead of Wednesday's budget.

The government has launched a review of how it calculates business rates, saying it wants to modernise the tax which is collected from businesses across England, including financial advisers.