Overview
Jonathon Goldstone, Private Client lawyer at McDermott’s London pratice, commented:
“Rumours of Rishi Sunak’s intentions to slash inheritance tax may indicate the Conservative Party’s direction of travel ahead of an upcoming election campaign. However, it is too early to say if it will be a real dividing line between the parties. There has been much said recently about the need to simplify or restructure inheritance tax, often seen as paid mainly by the moderately wealthy whilst not impacting upon those wealthy enough to plan around it. A simpler tax with a lower headline rate and fewer exemptions could prove popular for voters without necessarily decreasing revenues for the Treasury. As always the devil will be in the detail, and there is not much to go on yet.”
