TAX EXPERTS yesterday welcomed David Cameron’s ambition to lift more people out of inheritance tax if he wins the next election.
The Prime Minister said he intended to “go further” with the inheritance tax threshold, set at £325,000 since 2009, to make sure most homeowners escape the levy.
“Inheritance tax should only really be paid by the rich. It should not be paid by people who have worked hard and saved and who have bought a family house,” he told a Saga event in Peacehaven yesterday.If people with an estate of up to £325K and more are not rich, how does the PM define poor? And it is not the people "who have worked hard and saved and bought a family house" who pay the tax; rather it is their heirs.
Besides, he made a similar promise before the last general election but abandoned it when it came to the crunch.