Duncan Simpson, Research Director of the TaxPayers' Alliance, said:
"If the inheritance tax threshold was increased from £325,000 to £1 million, almost 25,000 fewer families would have to pay the hated death tax across this year and next.
"The government would still be raking in £7 billion in 2019-20 and 2020-21, but only the very wealthiest in the country would pay. Coughing up for a huge inheritance tax bill is a horrible thing for a grieving family to deal with, but lower and simpler taxes free people from that burden and let them to do more with their hard-earned cash.
"Brexit will likely be the focus of the election, but ditching the death tax should be the top priority of all parties to help hard-working families."
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Political Director, TaxPayers' Alliance
24-hour media hotline: 07795 084 113 (no texts)
- The original research paper can be found here.
- Founded in 2004 by Matthew Elliott and Andrew Allum, and now with 80,000 supporters, the TaxPayers’ Alliance (TPA) fights to reform taxes, reduce spending and protect taxpayers. Find out more about the TaxPayers' Alliance at www.taxpayersalliance.com.
- TaxPayers' Alliance's advisory council.