Is Downing Street really planning to abolish inheritance tax?

“I despair.” Said Paul Johnson who writes for The Times on the recent debate around abolishing inheritance tax.

[Originally published in The Times on 17 July 2023]

He continues: “There was speculation published on the front page of this newspaper on Saturday that the government is considering abolishing inheritance tax as a pre-election giveaway.

If this has any basis in truth, one wonders what is the point of all the work done by the Office for Budget Responsibility (OBR), which set out on Thursday in the starkest of terms the severe fiscal challenges that face us.”

This was published shortly before the so-called ‘silly season’ (Parliament’s summer recess) got underway. Several newspapers carried stories that Downing Street was considering the abolition of inheritance tax (IHT) in an attempt to appeal to certain voters.

The speculation did not last for long, before the Uxbridge by-election result shifted the debate towards environmental concerns instead. However, it seems likely that the question of culling IHT will re-emerge as we head towards the next general election.

Read the full article HERE.

Whether it is Rachel Reeves or Jeremy Hunt occupying 11 Downing Street after the election, either will have an unenviable task.

Let us know what you think – Reeves or Hunt. Just click HERE and send the contact form saying who might be in the seat quite soon.

[If you would like to read more about IHT from impartial source, please visit ‘MoneyHelper’ HERE.]

HERE TO HELP

IHT considerations is just one of a number of financial issues to be considered when making a strategic financial plan. Even if you think this doesn’t affect you, there are many others that undoubtedly will.

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