UK Treasury considers capping lifetime gifts to address fiscal shortfall, focusing on inheritance tax changes.

The UK Treasury is considering changes to inheritance tax to address a multi-billion-pound fiscal shortfall, possibly including a cap on lifetime gifts. Chancellor Rachel Reeves is examining ways to tighten rules on gifting assets to raise additional revenue before the autumn budget. While a new wealth tax is not ruled out, Reeves emphasizes her commitment to not raise taxes for working people.