Conservative candidate and IFA Deborah Dunleavy has branded Alistair Darling’s IHT changes “an insult to our industry”.
Dunleavy, who is the Conservative Parliamentary candidate Bolton North East, says Darling’s move is a “con” as a married couple can already have a £600,000 allowance by putting in place a discretionary will trust.
Darling announced in the PBR that a married couple or civil partnership will see their IHT threshold doubled to £600,000, increasing to £700,000 in 2010. Using a discretionary will trust already allows such couples to leave £600,000 without paying inheritance tax.
Dunleavy says: “I am absolutely outraged at Gordon Brown and his Labour Government once again trying to pull the wool over the eyes of the British Public.
“His stunt in portraying a raise in the IHT threshold to £600,000 for couples is an absolute con and is an insult to our industry.”