Reported about 1 month ago
Economic experts are advising Rachel Reeves to charge capital gains tax on second homes and businesses upon the owner's death, eliminating current reliefs that allow heirs to avoid tax. Such a reform could generate £2 billion annually for the Treasury and enhance economic growth by encouraging asset sales rather than hoarding. The IFS suggests that reforming the capital gains tax system could also align rates with income tax, potentially raising significant revenue amidst budget challenges.
Source: YAHOO