Illogical, impenetrable and irrelevant: The UK's IHT tax maze

IHT is key battleground in forthcoming general election

clock • 5 min read

Many in advisory space agree that the IHT landscape is ripe for reform and remains full of illogical, impenetrable and irrelevant detail that needs to be reviewed, writes David Denton

The UK's taxation landscape, a maze including more than 1,000 reliefs, allowances, and exemptions, could be on the cusp of potentially significant changes as political parties lay out their fiscal narratives ahead of the upcoming general election. The Conservative Party, under Rishi Sunak, is flirting with the idea of reducing, if not abolishing, inheritance tax (IHT) to woo voters. On the other side, the Labour Party is eyeing the modification or even closure of several tax reliefs such as agricultural and business property relief to fund its election promises, showcasing a diverging...

To continue reading this article...

Join Professional Adviser

  • 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.



Already a Professional Adviser member?


More on Tax planning

The myths leaving unmarried couples financially exposed

The myths leaving unmarried couples financially exposed

Helping clients bust the so-called ‘common law marriage’ myth

Andy Woollon
clock 24 November 2023 • 5 min read
Kirsty O'Connor/HM Treasury

Advisers express dismay over IHT Autumn Statement absence

PA speaks to advisers about yesterday’s Autumn Statement

Sahar Nazir
clock 23 November 2023 • 3 min read
The government said it will extend them by a decade to 6 April 2023, after the Treasury confirmed last month the clauses would be expanded to April 2025.

Autumn Statement 23: VCT and EIS sunset clauses extended by a decade

To April 2035

Cristian Angeloni
clock 22 November 2023 • 2 min read