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LATEST NEWS & EVENTS Conservative plans 'may lead to effective abolition of inheritance tax'  Plans laid out by the Conservatives may lead to the effective abolition of inheritance tax, it has been suggested. According to research conducted by Grant Thornton for the Independent, proposals put forward by the political party would leave few people paying the levy. This may have an impact on the way in which people attempt to divide their assets in their wills, as minimising the burden of the tax is often a major concern for consumers. The Tories have said that, if they came to power, they would raise the threshold from its current level of £325,000 to £1 million. Responding to the idea, Mike Warburton, director of entrepreneurial services at Grant Thornton, stated: "For all practical purposes, inheritance tax would be abolished under Mr Osborne's proposals." Recently, Remember A Charity released the findings of a study which revealed that 70 per cent of people polled expressed a desire to leave a video will, with many saying this would reduce the likelihood of family feuds over the division of assets. 
Related Articles: 13/8/2009 - Solicitor 'can be helpful' for making a will 17/8/2009 - Parents 'updating wills before summer holidays' 20/8/2009 - Increase to IHT interest 'emphasises importance of estate planning' 24/8/2009 - Archbishop criticised over civil partnership comments 28/8/2009 - People often fail to see "urgency" of making wills More Individual Legal Services News |
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