The inheritance and income tax promises from party manifestos are little more than tinkering. They are only likely to complicate tax matters further.
'…in this world nothing can be said to be certain, except death and taxes.' So remarked Benjamin Franklin in 1789, in a letter about the newly created US Constitution. Not quite Benjamin. Courtesy of our political leaders, there is another certainty in life; promising voters tax changes around election time.
So what are the politicians proposing this time round for income and inheritance tax (IHT) and, does it help to simplify voters' lives and ensure consistent and fair taxation between voters or, is it all just a political expediency to try to get elected? Read more.
Article first published in Private Client Advisor on 17th April 2015.