Inheritance tax (IHT), ISAs and income tax have come out top in our poll of what advisers are hoping to see at the forefront of the Spring Budget on 6 March.

Independent and restricted advisers who answered last week’s PA Asks poll were overwhelmingly hopeful for announcements on tax cuts in what will be the UK’s last budget before the next general election.

“I’d like to see a full rationalisation of the tax system. It is ridiculous to tax people on an amount of money that they already cannot live on,” one respondent said. “Do away with the whole of the current system.”

Another said they hoped for “clarity” and “no messing around”.

“No big giveaways,” they added. “The current government are a busted flush – crass vote buying stunts will not go down well.”

Another pundit agreed the budget needed to be “in touch with reality and the actual needs of people”.

One adviser told Professional Adviser they would like “a complete overhaul of IHT” as well as the introduction of a progressive living wealth tax for estates of less than £3m, where it’s 0.5% per annum up to £10m, and 0.75% beyond £10m.

They explained: “Reform of income tax to make it simpler, no loss of allowances, 30% band at £50,270, 40% band at £75,000, and 45% band at £100,000.”

One respondent said they hoped the chancellor would increase ISA allowances, remove stamp duty and introduce infrastructure and housing programmes.

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