Rachel Reeves has been accused of “coming for your family’s future” with a possible inheritance tax raid – but a former Treasury adviser has warned the changes still won’t be enough to fill the £50bn black hole.
Officials are thought to be looking at scrapping the “seven-year rule” – which means that no tax is due on any gifts you give if you live for seven years after giving them – to help address the UK’s multi-billion-pound shortfall left by Labour U-turns, higher borrowing and sluggish economic growth.
