meek Rich tory supporters shall INHERIT the Earth
First the science bit, courtesy of HMRC …
Inheritance Tax is paid if a person’s estate (their property, money and possessions) is worth more than £325,000 when they die. This is called the ‘Inheritance Tax threshold’.
Let’s turn now to average house prices in the UK:
According to data from the Land Registry, the average UK house price is £182,252
If the Conservatives win the general election, then from April 2017 parents would each be offered a further £175,000 “family home allowance” to enable them to pass property on to children tax-free after their death.
This could be added to the existing £325,000 inheritance tax threshold, bringing the total transferable tax-free allowance from both parents in a married couple or civil partnership to £1m.
The full amount would be transferable even if one spouse had died before the policy came into effect, the Conservatives say, and so would benefit existing widows and widowers.
For properties worth more than £2m, the new allowance would be gradually reduced so that those with homes worth more than £2.35m would not benefit at all.
So the £8 billion spending pledge for the NHS certainly won’t be coming from Inheritance Tax then.
The IFS say that this tax cut will “disproportionately benefit the wealthy”
and, will push up house prices.
It seems that the tories would rather get their money from the poor, vulnerable and disabled; because in the words of that other prize tory pr*ck
“Poor people should be prepared to take more risks because they have the least to lose”