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UKIP Policy - Inheritance Tax

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JustJohn

JustJohn Report 31 May 2014 18:10

I also think, that when UKIP finally get round to writing their policy for May 2015, they should avoid phrases like "the super rich avoid inheritance tax". Do we not all try and avoid tax, if it is legal and moral to avoid it. And who are the super rich? In some places it is people with their own teeth and a Morris Minor.

Most sensible people who are liable for inheritance tax will employ an accountant to ensure that as much as possible is paid out to their beneficiaries in their lifetime. So problem is shunted to next generation to solve. Perhaps a gift to UKIP will reduce their tax liability.

Researching:
Amelie my granddaughter's ancestry. My ban until 1 Jan 2021

Guinevere

Guinevere Report 31 May 2014 17:53

Modest properties?

£325,000+ is hardly modest. It isn't payable by the surviving spouse and they can leave £600,000+ before it becomes liable for tax.

http://www.ageuk.org.uk/money-matters/money-management/inheritance-tax/?gclid=CI2o35bP1r4CFZShtAodf1IASQ

Researching:
Lowestoft and North Suffolk, Monmouthshire, Breconshire, Somerset

JustJohn

JustJohn Report 31 May 2014 17:47

"UKIP will abolish inheritance tax. Inheritance tax brings in under £4bn - less than a third of what we spend on foreign aid. The super-rich avoid it, while modest property owners get caught by it. It hits people during a time of grief and UKIP will budget in its 2015 spending plans to completely abolish this unfair death tax. "

Any thoughts about this policy? Do other parties support its continuance in current form?

Researching:
Amelie my granddaughter's ancestry. My ban until 1 Jan 2021