potential changes to IHT being discussed

[riccardob]

Hello,

I was wondering what are the experts on here expecting from the Government in terms of IHT changes in October.
Press state that most likely changes are as follows:

1) reduction of BPR
2) 325k allowance being lowered to 250k
3) preimary residence allowance being withdrawn
4) gifting allowances scrapped altogether.
5) tax percentage due increased to 50% from 40%.

I have even read they will remove the no iht between spouses rule....
Obviously none of this was mentioned during the electoral campaign...

[AGoodman]

I haven't heard anything of substance on these other than possibly (1) and even that was probably speculation. The change that has been announced is the end of excluded property for non-domiciliaries.

I would be highly sceptical of anybody suggesting the spouse exemption is going.

[pawncob]

I agree. If spousal exemption goes, so will many UK residents.( I hear Italy is Nice and only 4%)