Reeves Set to Reform UK Inheritance Tax in Budget, BBC Says

Chancellor of the Exchequer Rachel Reeves is planning to raise cash from a reform of inheritance tax in her forthcoming UK budget, the BBC reported.

Reeves is debating a number of ways to reform the levy, which includes various exemptions and reliefs, the BBC reported, without saying where it obtained the information. Inheritance tax is currently levied at 40% on the property, possessions and money of people who have died, above a £325,000 threshold.

Reeves is seeking to make £40 billion ($52 billion) from spending cuts and tax rises in her budget on Oct. 30, as she seeks to restore ...