Advisers are split over the impact of the Tory u-turn on a planned rise in the inheritance tax (IHT) threshold, which was a casualty of the Con-Lib coalition negotiations.
David Cameron had said during the election campaign he would raise the band before inheritance tax liabilities to £2m for married couples; almost three times the current threshold of £650,00. But the Lib Dems opposed the move and wanted a "mansion tax" imposed on estates valued at more than £2m. Under the new coalition government, the allowance will remain at £350,00 per person but the decision has split advisers. Christchurch Investment Management associate director Tony Shah says: "I fear IHT is going to become a big concern to Middle England. "People in the South East are see...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes