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Broker talkback

Is the Conservatives’ economic competitiveness report right to call for the scrapping of inheritance tax?

Yes 50%
No 50%

No “I think the lower limit should be raised to around £2m. That should suit most people.”

Neil Haworth, Neil Haworth Financial Services

Yes “It probably should be but we make our living from it. So, ideologically yes, but practically no. I do not think it will be scrapped as it is too much of a golden goose.”

Andrew Martin, Key Benefits

Yes “I think it is an unfair tax that should be scrapped because the IHT threshold has not kept pace with asset price inflation.”

Malcolm Cuthbert, Killik & Co

No “It does not need to be scrapped, it just needs to be modified.”

Richard Arnold, Richard Arnold Financial Management

Yes “It would be a popular move and the right thing to do as it is catching people it was not intended to catch.”

David Liddle, David Liddle IFA

Yes “A lot of ordinary people are getting caught up in the IHT trap which was intended to only hit the very wealthy. The tax should be scrapped or the threshold raised significantly.”

Robert Haire, Impartial Financial Planning

No “I do not think it should be. If it were, we would only end up being taxed somewhere else and I think it is a reasonable enough tax.!

Adam Elkin, Kieron Bassett Financial Services

No “It does not need to be abolished but the legislation does updating to ensure it catches the people it was meant to and not hammer people because of house price inflation.”

Tony Bingham, sole trader

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