If Inheritance Tax threshold went to £1m?


T

Tony Bryer

If the Conservatives got into power (OK why bother reading
further?) and increased the IT threshold to £1m what effects
would this have apart from the obvious ones of costing the
Treasury some serious money (£1.75bn if I've analysed the numbers
in the IPPR report correctly) and putting lots of IT avoidance
schemes on the scrapheap?

As a non-accountant ISTM that one effect would be that older
people would be even more reluctant to cash in investments that
would give rise to a CGT charge as by retaining them and leaving
them in a will CGT would be avoided. And if you could trust your
aged relative to leave you a particular investment asset then it
would make sense for you to lend them the deposit on a buy-to-let
property than the other way round. What other situations might
arise?
 
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