{
  "$type": "site.standard.document",
  "bskyPostRef": {
    "cid": "bafyreifq4s323ze63egn5zcxkvdxpoo5p2f4rsbkmtfes7oibmuwplvnbq",
    "uri": "at://did:plc:oznbnvgr7dmvddiyvr7dih52/app.bsky.feed.post/3mphfecho3vs2"
  },
  "coverImage": {
    "$type": "blob",
    "ref": {
      "$link": "bafkreig7fvdd5bw5bilvqhib7zmpjoldvqhxch2hqpjxthsbwnvtslh7h4"
    },
    "mimeType": "image/jpeg",
    "size": 62521
  },
  "path": "/money/andy-burnham-double-death-tax",
  "publishedAt": "2026-06-29T19:06:16.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "Nationwide to slash 600 jobs after £2.9billion Virgin Money takeover",
    "State pension to 'account for half' of DWP benefit spending as triple lock future in doubt",
    "Historic UK tobacco brand to axe 9,000 jobs in major business overhaul",
    "The GB News Editorial Charter"
  ],
  "textContent": "\n\n\nMiddle‑class families could face significantly higher tax bills on inherited property under proposals reportedly backed by supporters of Andy Burnham to abolish the capital gains tax (CGT) uplift on death.\n\nThe reforms would change how CGT is calculated on inherited assets, potentially leaving some beneficiaries facing both inheritance tax and capital gains tax on the same property.\n\n###\n\n\n\n\nMr Burnham’s allies are understood to be examining CGT changes as Britain’s overall tax burden remains at its highest level in decades.\n\nLouise Haigh, a close ally of Mr Burnham, recently argued that any review of the tax system should “at a minimum” consider reforming the uplift.\n\n###\n\n\n\n\nTRENDING\n\nStories\n\nVideos\n\nYour Say\n\n###\n\n\n\n\nHealth Secretary Wes Streeting, seen by some as a possible future Chancellor, has previously suggested CGT rates should be aligned with income tax rates.\n\nUnder the current system, inherited assets are revalued at market value on the date of death, wiping out any gains made during the deceased’s lifetime.\n\nCGT is only charged on gains made after inheritance if the asset is later sold.\n\nRemoving the uplift would instead mean beneficiaries inherit the original acquisition cost, creating far larger taxable gains when the asset is disposed of.\n\n###\n\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nUnder the reported proposals, a higher‑rate taxpayer inheriting a property that had doubled in value over several decades could face a CGT bill of more than £23,000 on gains currently exempt.\n\nBasic‑rate taxpayers would continue to pay 18 per cent on qualifying residential property gains, while higher‑rate taxpayers would pay 24 per cent.\n\nTelegraph Money tax columnist Mike Warburton said: “We already have a death tax in the form of inheritance tax and I do not think we need another one. Executors already have a difficult job to do and we should not be making it any harder.”\n\nIt is unclear whether any CGT reform would be accompanied by changes to inheritance tax, prompting concerns that some estates could be exposed to both taxes on the same assets.\n\n### LATEST DEVELOPMENTS\n\n\n\n\n  * Nationwide to slash 600 jobs after £2.9billion Virgin Money takeover\n  * State pension to 'account for half' of DWP benefit spending as triple lock future in doubt\n  * Historic UK tobacco brand to axe 9,000 jobs in major business overhaul\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nGary Smith of Evelyn Partners said such an outcome was “unlikely to go down well” with the public.\n\nThe largest impact would fall on estates valued above £500,000 for individuals or £1million for married couples and civil partners.\n\nBegbies Chartered Accountants estimates that, in some circumstances, the combined effect of inheritance tax and CGT could produce an effective tax rate of up to 62 per cent.\n\nSupporters of abolishing the uplift — including Tax Justice UK, Centax and Fairer Share — argue the current system encourages people to retain appreciating assets until death to avoid CGT.\n\nBegbies tax director Andrew Brooker warned that removing the uplift without wider reform could discourage asset sales.\n\n###\n\n\n\n\n###\n\n\n\n\n“Discouraging asset sales through very high tax rates doesn’t make a great deal of economic sense either as it gums up markets,” he said.\n\nMr Burnham’s speech in Manchester on Monday offered little detail on his tax plans, saying only that he wanted to “give Britain the circuit breaker it needs”.\n\nOlly Cheng, financial planning director at Rathbones, said: “From a personal finance perspective, there was plenty of style but little substance.”\n\nAccording to the Institute for Fiscal Studies (IFS), around 350,000 people pay capital gains tax each year — roughly 0.65 per cent of the UK’s adult population.\n\n###\n\n\n\n\n\n\n\n\n\n\n**Our Standards: The GB News Editorial Charter**",
  "title": "Andy Burnham to target middle-class families with 'double death tax' under proposed overhaul"
}