This promise covers both income tax and employee National Insurance contributions - although not employer National Insurance, it turns out, which was hiked in last autumn’s Budget. Long-standing: Inheritance tax gift limits haven't changed since the 1980sContinuing the freeze could also have another politically disastrous consequence. This rule is designed to stop people dodging inheritance tax by giving their assets away shortly before they die. Campaigners have pushed for capital gains tax rates to be made equal with income tax rates - which would mean 20pc, 40pc and 45pc. Everyone gets 25 per cent relief added automatically to cover the 20 per cent lost to basic rate tax.