Conservative think tank calls for IHT ban

A Conservative Government should abolish inheritance tax because it penalises too many middle-income...

A Conservative Government should abolish inheritance tax because it penalises too many middle-income families, the right-wing Competitive Challenge working group has claimed. Headed up by former Cabinet minister John Redwood, the report said rising property prices mean that estates of many middle-income families are now above the £300,000 payment threshold. It also recommends capital gains tax should not be paid on any asset held for more than 10 years.