PA360 North: IHT uncertainty reaches fever pitch

Multitude of tax policy changes on table ahead of general election

Jenna Brown
clock • 3 min read

On-going uncertainty about the future of inheritance tax (IHT) and other reliefs has reached unpredictable levels with politicians looking at all options available to them ahead of the general election, delegates heard.

Speaking at PA360 North today (4 October), RSM private client partner Chris Etherington said IHT - and its potential removal - was a very hot topic as more and more people face bills from HM Revenue & Customs. He said while the nuts and bolts of IHT had not changed much in 40 years, receipts had grown significantly in recent years as thresholds remained frozen and property prices increased. He predicted the Exchequer would net close to £8bn next year from IHT and although it was a small amount compared to income tax it remained an emotive policy. He said he understood that the prime m...

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

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

2024/25 kicks off with £0.7m in IHT receipts; Up £85m on last year

2024/25 kicks off with £0.7m in IHT receipts; Up £85m on last year

HM Revenue and Customs’ monthly tax bulletin was released this morning

Hope Coumbe
clock 22 May 2024 • 1 min read
Spring Budget decisions motivating client push for more tax efficiency

Spring Budget decisions motivating client push for more tax efficiency

‘Frozen thresholds are impacting on bonds positively’

Hope Coumbe
clock 16 May 2024 • 1 min read
Business Relief in IHT planning set to become 'even more important'

Business Relief in IHT planning set to become 'even more important'

Advisers expect to see an increase in unquoted BR in IHT planning

Isabel Baxter
clock 09 May 2024 • 1 min read