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DERMOT DOUGHTY considers recent proposals for changes to tax on a deceased person’s estate
KEY POINTS
- Deteriorating public finances and an ageing population bring estate taxes to the fore.
- Government proposals for a 10% tax charge on death.
- Local authority proposals to defer council tax until death.
- Possible problems with valuations.
- Will there be more insolvent estates?
Inheritance tax has taken on an increasingly high profile in the run-up to the general election.
Politicians have made promises in the good times which they are having second thoughts about when faced with a sudden deterioration in public finances and the consequences of an ageing population.
From being a relative backwater in popular discussions on taxation inheritance tax (or ‘death tax’ as the media now calls it) is now taking centre stage.
Naturally enough the debate on inheritance tax focuses on the financial winners and losers.
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