Advisers back calls to bin IHT

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Consumers and advisers would both benefit if Inheritance Tax (IHT) was scrapped, IFAs say.

They say today's proposals by a Tory working group to abolish the controversial tax are good news for consumers, more and more of whom are being pulled into the 40% nil rate band bracket by rising house prices. They add getting rid of the tax would not be detrimental to their businesses, even where IHT planning plays a major role. However, a minority are doubtful the plans will come to fruition, while some condemn them as "spin" tactics by the Conservatives. John Kelly, managing partner at Square One Financial Planning, says: “Our clients would welcome any proposals to reduce the amount ...

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