Inheritance tax hike inevitable Sunak warned as its ‘harder to rely on income tax'

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INHERITANCE TAX will have to be increased in one way, shape or form, an expert has warned as it will be harder for Chancellor Rishi Sunak 'to make the numbers add up' if he continues to 'rely on income tax'.

From 2023-24, once HMRC's computer systems have been updated, the National Insurance contributions increase will be rebadged as a health and social care levy, which will appear as a separate line on payslips.But Ed Smith, head of asset allocation research at Rathbones, said it was inevitable that taxes on the wealthy would rise relative to taxes on income.

 

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