“High net worth voters back Labour despite private school tax”

Jun 13, 2024 | Tax

Keir has mentioned on every possible occasion that his dad was a toolmaker, so let me do my bit: I went to a 1970s comprehensive. My feelings about private schools echo my own and those of many I speak to on private healthcare, that I wish neither was necessary. I do think it’s almost certain that a not insignificant number of independents will close if VAT goes onto school fees, as a 20% rise on top of the usual inflation, is a lot for those at the ‘bottom end’, many of whose intake is not the wealthy, rather parents who struggle but don’t have any decent local state school options. If they move to those struggling comps, get involved and help to improve them, and if the VAT proceeds really are spent on those schools, it could all get better. But not for the current cohorts or generations of kids, I fear.

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“Tories pledge ‘triple lock plus’ tax cut for pensioners”

“Tories pledge ‘triple lock plus’ tax cut for pensioners”

If the State Pension does keep rising with the Triple-Locked highest measure of inflation, and the income tax allowance remains frozen, it might indeed not be long before the pension is more than the allowance and so becomes taxable. For those with other pensions, it would mean a change of tax code, and more tax taken from one or more of those others. But many, and there are many, whose

“Business Relief in IHT planning set to become ‘even more important'”

“Business Relief in IHT planning set to become ‘even more important'”

For most who might leave an Inheritance Tax bill to pay when they depart, there aren’t that many ways to get around it. For most leaving their money to kids with house making up most of the value, it boils down to giving away the assets you don’t live in and hanging on for seven years, giving some to charity or taking it on the chin and setting up life insurance to provide the funds.