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Re: The Chronicles of Rishi
https://www.thetimes.co.uk/article/3...a03c35b2b346a0
Quote:
Rishi Sunak is drawing up plans to slash inheritance tax, which his officials have called “the most hated tax in Britain”.
Cutting the levy before eventually abolishing it entirely is one of a raft of crowd-pleasing announcements being considered before next month’s Conservative Party conference.
As part of his pledge to announce a series of long-term decisions designed to change Britain, Sunak would frame the policy as an “aspirational offer to voters” ahead of the general election.
Inheritance tax is charged at 40 per cent for estates worth more than £325,000, with an extra £175,000 allowance towards a main residence if it is passed to children or grandchildren. A married couple can share their allowance, meaning parents can pass on £1 million to their children without any tax being paid...
… The most recent Treasury figures show that only 3.76 per cent of UK deaths result in an inheritance tax charge. However, YouGov polling for The Times suggests that people significantly overestimate their likelihood of having to pay. About a third (31 per cent) of people think that their assets will be enough to attract inheritance tax when they die, and 15 per cent expect to receive an inheritance large enough to attract the tax. Only 5 per cent of voters said the threshold for inheritance tax was £1 million.
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This would, on the latest figures available, benefit 27,000 estates…
https://www.gov.uk/government/statis...ics-commentary
In totally unrelated news, if Inheritance tax was abolished, Rishi Sinai’s daughters would be £290 million better off when he died…
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