Inheritance Tax changes: Chancellor Rishi Sunak walking ‘tax tightrope' to balance Budget
Katie Sewell
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Chancellor Rishi Sunak will announce his long-awaited Budget on Wednesday, March 3, which will mark one year since the Chancellor first introduced a number of generous Covid relief packages to see the UK through the pandemic. However, this year's Budget is not expected to be as generous as it was in 2020, with Britain now facing a looming fiscal blackhole due to significant lockdown borrowing. There are mounting concerns the Chancellor could take this opportunity to hike taxes in order to help recuperate some of the funds lost to the pandemic - and many are concerned the announcement tomorrow could spell major changes to Inheritance Tax.