Budget Analysis 2004 - Inheritance Tax Limit Increase
The inheritance tax nil-rate threshold, as announced in the pre-budget speech in November, will be increased next month from £255,000 to £263,000.
An inflationary increase of £7,000 - just 2.7%.
Our view
This stinks - the Chancellor is happily letting the property market fuel wealth and more importantly fill his coffers with tax. Property prices in double digit returns again this year for much of the country and the inheritance tax threshold again below the REAL rate of inflation and what do you get .........................?
More taxes collected from Mrs and Mrs Average - rather than what inheritance tax was supposed to be for - to tax the wealthy. Is this really a Labour Policy? Inheritance Tax is in our opinion one of the dirtiest taxes we know - you are taxed literally to death! Spend your money or take it overseas and find a place where you can die happily.