Inheritance Tax

Labours plans to adjust the Inheritance Tax threshold will hit nearly 3/4 of every household in Rother Valley.

The current Inheritance tax (IHT) threshold is £325,000 per person. It doubles to £650,000 for a married couple - as long as the first person to die leaves their entire estate to their partner. Anything over this limit is subject to a 40% tax bill.

Labour are investigating a Lifetime ‘Gift Tax’ with a threshold of £125,000. A click on the article opposite will outline the plan in detail.

This all assumes of course that the estate hasn’t already been raided to pay for a homeowners care costs.

PLEDGE: I will oppose any plan to reduce the Inheritance Tax Threshold that will impact on Rother Valley constituents.