Economic turmoil constrains Tory IHT policy - WAY Group

Wilcox's comments come as former Chancellor Ken Clarke recently backtracked on an incoming Tory government's priority to cut inheritance tax. "It is clear from Clarke's succession of contradictory announcements that my earlier suspicions that George Osborne's original intention of moving to a £1 million NRB were effectively scuppered by Chancellor Darling's inspired move to make the NRB transferable," says Wilcox. Wilcox expects the Tories to either increase the personal nil rate band (NRB) to £500,000 and retain the new transferability rules to give every couple a joint allowance of th...