Lord Craig Mackinlay has highlighted a “serious” consequence of Labour’s changes to Inheritance Tax, following Chancellor Rachel Reeves’s Budget announcement today. Addressing the House of Commons this afternoon, Reeves announced three major changes to the tax for Britons. Reeves confirmed that the freeze on tax thresholds until 2028 will be “extended for a further two years” until 2030. The Chancellor also announced that inherited pensions will also be included in Inheritance Tax, and the Government will “reform agricultural and business relief from April 2026”. Reeves told MPs: “I understand…
