Rishi Sunak revives proposal to SLASH inheritance tax: PM set to target UK's ... trends now
Rishi Sunak is planning to revive his proposal to slash inheritance tax.
The Prime Minister is set to target 'the most hated' levy in 'an aspirational offer to voters' ahead of the next general election.
Cutting the tax before eventually scrapping it is one of many possible crowd-pleasing announcements tax payers could expect to hear before next month's Conservative Party conference, according to The Sunday Times.
Inheritance tax is currently charged at 40 per cent for estates worth more than £325,000.
An extra £175,000 allowance goes towards a main residence if it is passed to children or grandchildren and a married couple can share their allowance - parents can pass on £1 million to their children without any tax being paid.
The Prime Minister is set to target 'the most hated' levy in 'an aspirational offer to voters' ahead of the next general election
More than 50 Tory MPs, including former Chancellor Nadhim Zahawi urged Rishi Sunak and Jeremy Hunt to scrap the tax
It is believed that a live discussion was held at the highest level of government about reforming inheritance tax.
One possible announcement is that Sunak will phase out the levy by reducing the 40 per cent rate in the budget while setting out a pathway to scrap it