Discuss - Economy Inheritance Tax - Raise inheritance tax threshold

Should we raise the threshold for Inheritance Tax?

Alliance Party Alliance have stated in their 2010 Westminster Manifesto that they will oppose Conservative and Unionist proposals to raise the threshold for inheritance tax. Source: 2010 Alliance Party Westminster Manifesto.

Conservative 17th March 2015 - The Conservatives have announced plans that would allow some parents to give their children homes worth up to £1m without having to pay inheritance tax. It has been reported that the plans would be introduced in April 2016 and would help up to 20,000 estates by 2020. It follows a pledge in the 2010 election to raise the inheritance tax threshold on property and assets to £1m.

Green Party The Green Party would reform inheritance tax so that it depends on the wealth of the recipient, rather than the deceased, in order to 'encourage people to distribute their property widely'. Source: Green Party website

Liberal Democrat The Liberal Democrat party blocked Conservative plans to raise the inheritance tax threshold to £1m as part of the coalition deal. Business Minister Vince Cable has said that the plans send "a very bad signal about the chancellor's priorities".

UKIP UKIP would abolish inheritance tax, stating, "Inheritance tax brings in under £4bn - less than a third of what we spend on foreign aid. The super-rich avoid it, while modest property owners get caught by it. It hits people during a time of grief and UKIP will budget in its 2015 spending plans to completely abolish this unfair death tax." Source: UKIP List of Issues - http://www.ukip.org/issues

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