Passing on: options for reforming inheritance taxation

Document type
Corlett, Adam
Resolution Foundation
Date of publication
2 May 2018
Older Adults, Children and Young People, Poverty Alleviation Welfare Benefits and Financial Inclusion
Social welfare
Material type

Download (780KB )

This report sets out policy approaches for reforming or replacing inheritance tax.

Policy recommendations:

  • Abolish Inheritance Tax and replace it with a Lifetime Receipts Tax, paid by the beneficiary.
  • Give each person a Lifetime Receipts Tax Allowance of £125,000.
  • Beyond the Lifetime Receipts Tax Allowance, apply a progressive rate schedule with a basic rate of 20 per cent and a higher rate of 30 per cent above £500,000.

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