Economists say move will increase bureaucracy for bereaved families and ‘unlikely to raise additional revenues’ for the Treasury

Chancellor Rachel Reeves is reportedly planning to launch an inheritance tax raid in the Budget, potentially by changing the key thresholds or other reliefs.

The Chancellor’s Budget may reform business and agricultural property relief, which create tax loopholes for the wealthy

The Chancellor could reform business relief, closing a loophole that allows the wealthy to halve their inheritance tax bills at a cost to taxpayers of £2billion a year.

The Treasury is reportedly considering plans to raise Inheritance Tax at the Budget, as part of an attempt to raise £40bn and plug a hole in the public finances.