IHT to be scrapped

Javid considers scrapping IHTChancellor Sajid Javid could be considering scrapping inheritance tax, telling a fringe event at the Conservative party conference that that levy is a “real issue” and saying that changes were “on my mind” when it comes to IHT. Asked if he would consider axing the tax, Mr Javid replied: “We have already made some sensible reforms in that tax … I shouldn’t say too much now but I understand the arguments against that tax.” He added: “I do think when people have paid taxes already through work or through investments and capital gains and other taxes there is a real issue with then asking them on that income to pay taxes all over again.” This comes after the Brexit Party said it would abolish the tax, with party chairman Richard Tice last week describing IHT as "the most hated, the most unpopular tax in this country", adding: "We’ll just get rid of it”.