U.K. Inheritance Tax Hint Fuels Claims of Handouts for the Rich

(Bloomberg) --

U.K. Chancellor of the Exchequer Sajid Javid has hinted he is considering cutting inheritance tax. Doing away with the levy would cost almost 6 billion pounds ($7.4 billion) and critics point out that most of the benefit would go to a small number of wealthy households, many of them in London and southeast England. Just 2,050 estates worth over 2 million pounds were charged 965,000 pounds each on average in 2016-17, the latest year for which figures are available.

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