Would it be too cynical (unlike me, I know) to say that we’ve heard all this before? Maggie (kids etc.) pledged to abolish Capital Transfer Tax; which she did, replacing it with Inheritance Tax. Osborne pledged to raise the threshold to £1m; which he did for married couples with big houses passing them on to their kids, sort of. Saj is making no pledges, just saying it’s ‘on his mind’. Could go out of his mind just as easily when faced with the bills for all the other stuff he is pledging. I’d say.
“HMRC scraps plans to tax pensions after death”
A couple of other Statement Highlights (in my world, anyway). A welcome ‘nothing happened’ on the treatment of pensions on death. They were never going to be liable to IHT (too complicated with trusts and trust law) but there was talk of making them income-taxable on the recipients at whatever age you die.
