Could we see the back of inheritance tax? - Pembroke Financial IFA's

Could We See the Back of Inheritance Tax?

Widely regarded as the most unpopular tax, IHT is under scrutiny from both government and opposition. Is it time it was scrapped for a gifts tax? A paper presented to the Labour Party has suggested the abolition of inheritance tax (IHT). Labour Party proposals to kill off inheritance tax (IHT) and replace it with a gifts tax were reported across several newspapers last month. The coverage was somewhat creative given that the idea was plucked from a paper prepared for the Labour Party primarily focused on reforming the taxation of land. The gifts tax section covered just half a page and did little more than regurgitate a structure proposed over a year ago by the Institute for Public Policy Research (IPPR).