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Autumn Budget 24: Chancellor Reeves sets 20% IHT rate on AIM shares
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This will set the «effective rate of tax» at 20%, setting out what Reeves called her «balanced approach» on the matter, in her first Budget since Labour won the general election in July. Reeves' decision was part of a package reforming the IHT system, as she highlighted that «only 6% of estates» will pay inheritance tax this year. She continued her predecessors' decision to freeze IHT bands for a further two years, until 2030, meaning that the tax-free sum will remain at £325,000 on any estate; rising to £500,000 if the estate includes a residence passed to direct descendants and to £...
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