HMRC plans to scrutinize parents' gifts to children for potential inheritance tax changes.

The UK's HM Revenue and Customs (HMRC) plans to scrutinize parents who have gifted money or assets to their children in the last seven years, potentially altering inheritance tax relief. Currently, estates valued over £325,000 face a 40% tax, with gifts made more than seven years before death exempt. Proposed changes may restrict "potentially exempt transfers," impacting wealth transfer to younger generations and possibly affecting economic liquidity.