Reform or abolish? Reasons why IHT needs to change

IHT has been called the 'spectre that haunts us alongside death'

clock • 4 min read

Alice Pearson explores the options for an overhaul of the IHT framework and argues that change is much needed...

A group of prominent MPs, including the former chancellor Nadhim Zahawi, has called for IHT (IHT) to be abolished. IHT, he said, is the "spectre that haunts us alongside death," adding that it is "morally wrong". Despite those calls gathering pace - several national newspapers have since added their voice - the abolition of IHT is unlikely. It has, however, highlighted the need for reform. IHT affects a very small percentage of the UK population yet is loathed by many. Just 4% of deaths trigger an IHT liability with the tax raising £6.1bn for the Treasury coffers in 2021/22. It is a s...

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