The Treasury is reportedly considering tightening the rules around inheritance tax as part of an attempt to plug a £50bn black hole in the public finances.
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 7 years after giving them - to help address the UK’s multi-billion-pound fiscal shortfall left by Labour U-turns, higher borrowing and sluggish economic growth.
