The UK government is considering tightening inheritance tax rules, potentially restricting parents from making unlimited tax-free gifts to their children. Labour Minister Rachel Reeves has indicated openness to a substantial increase in inheritance tax, which has raised concerns among wealth managers about the future of existing tax loopholes. The proposed changes could affect savings and inheritances, including those of workers who die before reaching pension age. Despite fears of a tax clampdown, a recent study suggests that these measures are unlikely to trigger a mass sale of family farms. The discussions reflect a broader government effort to increase tax revenues through inheritance tax reforms.