budget

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The Chancellor George Osborne is set to confirm an increase in the inheritance tax (IHT) threshold to £1m per couple in this week's Budget.

The Conservatives have promised 'no new taxes' this Parliament, but George Osborne's 8 July Budget will still contain tax issues for wealth managers to consider, according to law firm Payne Hicks Beach,

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Parents would be able to pass a main property worth up to £1m to their children without paying any inheritance tax (IHT), under Tory plans in Treasury papers leaked ahead of Wednesday's budget.

The government has launched a review of how it calculates business rates, saying it wants to modernise the tax which is collected from businesses across England, including financial advisers.

Chancellor George Osborne will further relax pension rules in his Budget on Wednesday to allow the sale of annuity contracts.

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Changes at the Office for National Statistics (ONS) which will count future pension rights as if they were present income will turn the UK into a nation of savers instantly, the Telegraph reports.