Amid renewed speculation – first reported by Guido – that Tory Shadow Chancellor Andrew Griffith might pledge to abolish Inheritance Tax at conference in a few weeks, Guido has compiled some essential facts about the tax. And its abolition…
IHT is charged at 40% on estates above a £325,000 nil-rate band, frozen since 2009 and now frozen to April 2031, with an additional £175,000 residence nil-rate band where a home passes to direct descendants and both bands transferable between spouses, giving a couple up to £1 million tax free. The UK’s IHT is one of the harshest:
Reform has attacked the potential Tory proposal – Robert Jenrick called it a “desperate play.” Reform pledged to abolish the tax altogether in 2025, too…
UPDATE: Kemi Badenoch confirms she is looking at stripping down or scrapping Inheritance Tax.
“Reform says abolishing inheritance tax is ‘morally wrong’. I think it is morally wrong to punish people for doing the right thing – spending a lifetime working, saving, building up a business or a home to pass on to the next generation.
That’s why I’ve asked my team to explore fiscally responsible ways to do address this burden. The people caught by inheritance tax are mostly home-owning middle-class families due to house price inflation, diligent savers, and small-business owners.”
Boris spoke to GB News about Labour’s attempts to restrict donations:
“It looks absolutely pathetic. Just because some people want to support one party very generously, Labour kicks up a huge fuss and says they’re going to cap donations.
I just saw Richard Tice on your show just now. I have to say I rather agree with him.
They’ve got huge amounts of money – troughing it from the trade unions. It’s absolutely ridiculous Labour are trying to cap donations.”