Posts Tagged ‘Inheritance Tax’

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Spain’s centre-right party Ciudadanos (C’s) has announced proposals for a zero rate of inheritance tax.

British people should have to pay tax on every gift they are given, the Lib Dems said today. The radical policy – which risks being dubbed a “tax on Christmas presents” – is intended to narrow the gap between rich and poor and raise billions in new tax revenue.

The government collected £1.9bn in inheritance tax receipts in the first four months of the tax year, as thousands are believed to be missing out on tax breaks because of the complexity involved.

When the state of New York this fall accepts title to 346 acres donated by David Rockefeller’s estate, the pastures along Route 448 in Pocantico Hills, where his prized cattle herd once grazed, will vanish from the tax rolls.

Inheritance tax receipts hit a record high of £5.2bn last year, according to new statistics published by HM Revenue & Customs ahead of a government-ordered review of the inheritance tax system.

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