It has long been the desire of George Osborne to change the Inheritance Tax system in the UK. Will he use his final budget before the election to role out a complete overhaul of the system?
At present, tax at 40% is payable on estates worth more than £325,000.
It is rumoured that he might look across the sea to Ireland where IHT is charged based on the income of the person receiving the inheritance. This could allow a person to leave his or her estate to a larger group of less-well-off people and have them pay no IHT.
Some may see this as possibly a much fairer system and maybe a good vote winner?