Budget 2021 - A Missed Opportunity?

There are two things certain in life: death and taxes. This oft-quoted idiom actually derives from a letter written by Benjamin Franklin in 1789 but would not feel out of place in a tweet in 2021. And, as we know, when it comes to Inheritance tax (IHT); death leads to taxes. 

It is no surprise then that the very nature of IHT is unpopular; however its reputation only seems to have gotten worse since its introduction in 1986, often being criticised as complicated, unfair and in need of modernisation. 

It has become an annual trend to speculate as to the future of IHT and indeed Capital Gains Tax (CGT) as "Tax Day" approaches. However, for the past few years at least, the speculation has been followed with an anti-climax for some and a sigh of relief for others as IHT and CGT are overlooked for any significant change or reform.