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.
- 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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