In Emmbrook on Saturday I was asked if the Conservatives would renew their pledge to raise the threshold for Inheritance Tax. I said I did expect some reduction in Inheritance Tax to figure in the Manifesto to be launched on tuesday, but we would need to check the detail when the manifesto was published.
It is now widely expected that everyone will be offered an increase in their IHT threshold to £500,000 from £325,000 where they wish to pass on the family home, giving a couple a total allowance of up to £1 million.
Conservatives were not able to implement a higher threshold in the last Parliament because Lib Dems did not support the policy and would not vote for it. Lib Dems and Labour still disagree with this policy, so it will require a Conservative majority government to put it through.
Published and promoted by Thomas Puddy for John Redwood, both at 30 Rose Street Wokingham RG40 1XU
April 13, 2015
Thank you, just what I was looking for
April 13, 2015
It never ceases to amaze me just how the population of our once great nation is so accepting, nay happy, for the state to dip into our pockets for their every wizzard wheeze.
We hear people saying that more tax should be taken from persons X or group Y or that everyone should pay a fair share etc etc however, no one seems to suggest whether we should just bend over an accept the state constantly dipping into our pockets and spending our money often, on vanity projects or things few of us would choose to fund had we a choice.
We need to have a serious debate about just what we want the state to do for us and how we want it done. I have been a lifelong Conservative supporter, although I cannot support our current leader, but I have never known us as a party or indeed a nation, to be so wedded to ever increasing levels of taxation.
I think this new annoucement is a step in the right direction but, we need to think back to why death duties were put in place in the first place….It was a political ploy by Labour to get at the rich landowners however, because so many country estates employed hundreds of locals many locals were put out of work or their tied homes and farms when the estates were ruined by the nasty tax all to satisfy the politics of envy.
John, I know you as my MP are a traditonal Conservative however, have you ever tried talking to our leaders about looking into just what we expect the state to do for us? I suggest the size of the state could be rolled right back if we just have the state performing vital/essential services such as, security, criminal justice, education, a safety net for the poor who have fallen on hard times, perhaps healthcare, although we need a sensible debate about what we want the NHS to do for us and what we should pay for ourselves. We don’t need forced equality, the new false religion of climate change, the EU, play nicely children policies for adults, or a million and one other PC things…..Let people wipe their backsides for themselves, let the people keep and spend much more of their own money because, compared to the bloated state, peole always spend their own money better and achieve greater levels of value…..How have we, as a people allowed ourselves to become so needy and childlike?
Why doesn’t our party tell the electorate that every promise the bidding party leaders make will cost us all dear? Why don’t our leaders make clear that the state does not have it’s own money, only that which it takes from the people?
April 18, 2015
Its a move in the right direction, but not enough given the price of a home in the South east and particularly in London.
I do wish this would not be spun as £1,000,000, as that is simply not true.
If you are Single, or even married and leave your estate in a particular way (some of it to Children on first death) then Double relief does not apply.