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Budget 2015 - prediction for Inheritance Tax

Sunday 15th March 2015

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?

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