Reports the Chancellor plans to extend the current freeze on the nil-rate band for inheritance tax will be clarified when Jeremy Hunt makes his Autumn statement tomorrow.
STEP, a professional body comprising lawyers, accountants, trustees and other practitioners which helps families plan for their futures, is calling for reform to the current “complex” and “unfair” system.
Emily Deane, STEP’s Technical Counsel and Head of Government Affairs, said: “STEP has long argued that the inheritance tax system is too complex, unfair and in dire need of reform.
“A low-rate tax with few reliefs and exemptions is far preferable than one with a high headline rate that those who can afford professional advice can avoid.”
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