Tuesday, March 25, 2014
PM David Cameron recently revived his pledge to slash the inheritance tax.
Speaking to a group of pensioners, Cameron said, “"I believe in people being able to pass money down through the generations and pass things on to their children. Inheritance tax should only be paid for by the rich... It's something we will have to address in our manifesto.”
There’s currently a 40% inheritance tax on estates over £325,000. This doesn’t effect families in most regions, but Londoners get clobbered due to their higher property values.
See Joe Murphy, David Cameron Revives Pledge to Slash Inheritance Tax, London Evening Standard, March 24, 2014.
Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.