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Inheritance Tax (IHT)

Inheritance Tax:Total Budget £10 Billion
Revised Budget £8.1 Billion changed by £-1.9 Billion: 81.0% Reduction

Inheritance Tax Charitable Donations

Policy:

Make all UK Charity donations exempt from IHT.

Annual Revenue Reduction of £-500 Million

Inheritance Tax Pension

Policy:

No IHT on pensions, ever.

Annual Revenue Reduction of £-1.6 Billion

Inheritance Tax Seven Year Rule

Policy:

Scrap the 7-year rule and bring in a simple, 100-day plan for gifts.

Annual Revenue Reduction of £-2 Billion

Inheritance Tax Spouse / Partner

Policy:

Surviving spouse or Civil Partners, where no Inheritance Tax is due, Capital Gains Tax must be paid on the profit made over the years.

Annual Revenue Increase of £3 Billion

Inheritance Tax Who Pays

Policy:

Reduce the current rate of 40% Inheritance Tax in half, to 20%.

Annual Revenue Reduction of £-2.3 Billion

Inheritance Tax Tax Rate

Policy:

Genuine working farms and UK trading businesses are completely protected from Inheritance Tax.

Annual Revenue Increase of £1.5 Billion