Following the ongoing debate around inheritance tax reform and scrutiny of Business Property Relief, Julian Morse, Co-CEO at Cavendish has shared his thoughts on the impact of IHT/BPR and AIM portfolios.
Julian Morse, Co-CEO at Cavendish said:
“IHT relief on AIM portfolios is a good thing for the UK as a whole. For the small price of slightly lower inheritance tax receipts it encourages investment in UK growth companies which are the engine of the UK economy.”
“This fuels job and wealth creation while bringing the government a far higher take in employment, corporation and capital gains taxes.”
“Private business relief schemes are constructs to avoid paying inheritance tax and while the outputs are beneficial for the UK it is only logical that they should be on a level playing field with IHT relief on AIM portfolios so the tax relief should reduced by 50% as it is on AIM.”
“This would increase the tax take for the government and halt flows out of AIM IHT portfolios maintaining the boost to the economy that supporting these companies creates.”
