A Conservative Government would raise the threshold for inheritance tax to £1m, according to Shadow Chancellor, George Osborne.
In a speech to the Conservative Party conference in Blackpool, Osborne says he would make cuts to inheritance tax and stop first time buyers paying stamp duty, paid for by charging a levy on those with offshore tax status. The Conservatives estimate increasing the inheritance tax threshold would cost around £3.1bn, while changes to stamp duty would cost about £400m. Osborne says a £25,000 levy on non-domiciled tax payers would pay for these cuts. Osborne says cutting stamp duty on first time buyer purchases of less than £250,000 will help 9 out of 10 first time buyers, while inheritance ...
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