Recent data shows inheritance tax collections are rising, with predictions of further increases. Additionally, the introduction of a high-value council tax surcharge for properties over £2 million is set to impact a small percentage of homeowners, while council tax bills in certain London boroughs may see significant hikes due to budget shortfalls.
As the budget approaches, keep an eye on potential changes to inheritance tax and council tax, particularly in London. Watch for how the proposed mansion tax affects high-value homeowners and whether any adjustments to capital gains tax rates emerge amid ongoing debates.