Sajid Javid, UK Chancellor, has hinted the government could consider scrapping inheritance tax (IHT) completely, a move which would see “families across the country rejoice,” claimed Shona Lowe, Private Client & Corporate Director at 1825, Standard Life's financial advice arm.

Speaking at the Conservative Party Conference, Mr Javid said scrapping the tax is something the government should consider in the future.

Agreeing, Miles Dean, head of international tax at Andersen Tax, said “it is difficult to justify that assets acquired using taxed income are then taxed again on death.”

However “it is a ...