Be careful what you wish for

The whole issue of IHT seems to have attracted an unprecedented level of attention at the moment and there are many calling for its abolition or amendment. Abolition seems unlikely given that the Government needs to finance its spending plans and the take from IHT is estimated at £7.5-9bn by 2009. It is worth remembering that the original motivation for capital taxes on death was to meet a social need. In days past, the aristocracy were seen to make too little a contribution to the finances of the country. There they were with huge amounts of wealth that was left untouched on their death...