The proposed 100% relief for IHT is £1million. Whilst individually this is a lot, across businesses with 3+ employees it equals less per person than the current relief on properties. It is estimated that up to 391,000 people risk losing their job, if the owner of the company they work for dies.
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We think the Government must act to protect jobs by reinstating 100% IHT relief for business property or implementing relief that's the higher of £325,000 or 10 years salary, per employee. We think employees should be protected to ensure job security after a tragic event. Without action, we think people will be forced onto benefits, worsening the deficit , especially in rural areas with limited foreign investment. We think this policy would be fair for working people striving to earn a living. Workers need job security.