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

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...