View more on these topics

Top Tory outlines bold IHT reform

The Conservative Party is thought to be planning a £2m Inheritance Tax exemption proposal.

The Daily Telegraph has reported that in a letter to a retired financial adviser shadow commons leader Theresa May let slip that the Tories are looking to propose an IHT threshold of £1m per person.

This means that it would be possible for a married couple to enjoy a threshold of £2m.

Rival political parties have been quick to lash out at the proposals, with Labour questioning how the Tories could justify more tax cuts for millionaires.

Yvette Cooper, chief secretary to the Treasury, says: “David Cameron clearly tried to hide this but now we know the Tories’ priority is to give money to a few thousand of the wealthiest in the country. How can this be fair?”

The current IHT threshold for couples is £600,000.

Recommended

Division over mortgage rescue scheme

The mortgage rescue scheme proposed as part of the government’s raft of measures to tackle the slump in the housing market has been met with a divided response from brokers and trade bodies.

Merrill axes Wave

Rumours are rife in the industry that Merrill Lynch has shut down its remaining UK specialist mortgage lender Wave.

Arrears and repossession figures rock the Rock

The number of arrears in the UK’s residential mortgage-backed securities market continued to rise in Q2 2008 according to Standard & Poor’s latest index.

Brokers favour societies

Brokers are sending more business to building societies than ever before.

Newsletter

News and expert analysis straight to your inbox

Sign up