Inheritance Tax Highlights Millionaire Miliband’s Hypocrisy

The Tories are going to make it a manifesto commitment (again) to raise the inheritance tax threshold so that only millionaires pay it. David Cameron is giving a speech today highlighting the issue. This morning Harman was less than convincing on Marr about the Milibands’ own efforts to avoid the inheritance tax threshold. Why would the Milibands – as Harman claims – pay expensive lawyers to produce a Deed of Variation to not avoid tax?*

CCHQ’s promotion for their manifesto commitment looks like this:

ihtgraphic

Guido’s version would look like this:

IHT-MILIBAND

Not positive enough?

*Guido’s informed guess is that they entirely avoided paying inheritance tax at the time. Later Ed Miliband and David Miliband probably had to pay some lesser amount of capital gains tax when they realised their profits on the difference in the value they had inherited tax free and the price they received for their shares of what was the family home when it was eventually sold.




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Quote of the Day

Jacob Rees-Mogg on Theresa May

“There comes a point at which the policy and the individual become so intimately connected that it would be very hard to carry on supporting the person who is promoting this policy.”

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