Inheritance Tax : Clear Water Between Tories and LibDems

Have just read an article on LibDemVoice by Dick Newby, the Chairman of the LibDems Tax Policy Working Group. The Tories are promising “lower and greener taxes” and the LibDems are promising “fairer, simpler and greener” taxes. So far, so Tweedledum and Tweedledee. However one policy struck Guido as sharply different, the Tories are proposing to abolish death taxes on the reasonable grounds that they are unfair taxes on funds which have already been taxed. The LibDems are proposing to tinker with the threshold and toughen the rules on gifts.

If Guido understands the LibDem proposals correctly, the following example is correct:

His daughters finish university, by which time Guido is in his sixties, and he gives them each an (electric) car as a graduation present. He dies 14 years later (as expected by the actuaries), leaving his estate* to the girls. Under LibDem proposals they would be taxed on the cars and every birthday present given to them for the previous 15 years.

Does that strike you as fairer or mean-spirited?

*Assuming his estate is worth more than £500,000.




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Michael Crick on Safe Seats:

“In effect, new MPs are being elected day by day now, as, amid huge secrecy, small cabals of party bigwigs pick candidates for safe seats.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.

Facebook

Leader of Anti-UKIP Protest Embroiled in SWP Rape Scandal Leader of Anti-UKIP Protest Embroiled in SWP Rape Scandal
Hollobone Agrees Tory-UKIP Pact Hollobone Agrees Tory-UKIP Pact
David Mackintosh Quits David Mackintosh Quits
Happy Ed Balls Day Happy Ed Balls Day
Campaign Report: 42 Days To Go Campaign Report: 42 Days To Go
Zac Back? Watch Our Guy News Special Zac Back? Watch Our Guy News Special
Campaign Report: 43 Days To Go Campaign Report: 43 Days To Go
Gallery Guido’s PMQs Sketch Gallery Guido’s PMQs Sketch
Farron U-Turns and Sacks David Ward Farron U-Turns and Sacks David Ward
‘Spring’ Breaks: Jolyon’s Short-Lived New Party ‘Spring’ Breaks: Jolyon’s Short-Lived New Party
More Selection Shenanigans More Selection Shenanigans
Bouattia Ousted Bouattia Ousted
David Ward Becoming a Problem for Farron David Ward Becoming a Problem for Farron
Clive Lewis Slammed by ICM for Fake News Poll Clive Lewis Slammed by ICM for Fake News Poll
Radio 4 Gossips Link Peston to Today Radio 4 Gossips Link Peston to Today
Mirror Chicken Fattened for Election Slaughter Mirror Chicken Fattened for Election Slaughter
Len Tries to Stitch Up Liverpool Walton for His Bag Carrier Len Tries to Stitch Up Liverpool Walton for His Bag Carrier
Starmer on Corbyn: Then and Now Starmer on Corbyn: Then and Now
Updates: Who’s Standing? Who’s Standing Down? Updates: Who’s Standing? Who’s Standing Down?
Banks Bottles It Banks Bottles It