The Conservative Party’s shock election victory will be a welcome result for UK tax payers.
As David Cameron sweeps back into No.10, he is likely to bring with him much needed stability to the Inheritance Tax regime.
We also expect to see him preserve long-established principles that allow tax payers to make legitimate tax-saving arrangements, while also preventing vital allowances – which can often protect family businesses and farms – from being undermined.
This includes Deeds of Variation, said in the Budget to be a subject for review later this year. While a review may assist in addressing anything which might justifiably be considered abuse, we hope that it would otherwise conclude that Deeds of Variation have a proper purpose and that this fair and valuable facility will be left largely undisturbed.