Do Labour plan a £20,000 death tax?
Sun Feb 14, 2010 8:17 am
Row erupts as Labour accused of 'secret £20,000 death tax plan'
Peter Mandelson, Secretary of State, has accused the Conservatives of trying to ruin efforts to come to an agreement for long-time care solutions
A £20,000 ‘death tax’ to help pay for long-term care for the elderly is secretly being planned by ministers, according to the Tories.
The fee would be levied on every estate – in addition to inheritance tax – meaning families with larger homes would be hardest hit.
However, it could be applied at the point of retirement.
Read more: http://www.dailymail.co.uk/news/article ... -deal.html
Peter Mandelson, Secretary of State, has accused the Conservatives of trying to ruin efforts to come to an agreement for long-time care solutions
A £20,000 ‘death tax’ to help pay for long-term care for the elderly is secretly being planned by ministers, according to the Tories.
The fee would be levied on every estate – in addition to inheritance tax – meaning families with larger homes would be hardest hit.
However, it could be applied at the point of retirement.
Read more: http://www.dailymail.co.uk/news/article ... -deal.html
Re: Do Labour plan a £20,000 death tax?
Sun Feb 14, 2010 3:57 pm
Surely if the same amount was levied on every estate then those with the smallest homes would be hit the hardest? 
£20,000 is 20% of £100,000 but only 10% of £200,000
£20,000 is 20% of £100,000 but only 10% of £200,000
The story evolves
Sun Feb 14, 2010 5:15 pm
Labour accused of planning 'secret 10% death tax' in new row over elderly care
The Tories have stepped up their onslaught on Labour over social care, claiming that the Government was secretly planning to charge a £50,000 inheritance tax levy on people with estates of £500,000.
The claim was made after it emerged that pollsters Ipsos Mori, who carry out research for the Health Department, conducted a survey in which people were asked if they would pay a ten per cent levy of their estate when they died to cover the cost of care for the elderly.
The poll included an example of a person with an estate of £500,000, of which £50,000 went to the taxman.
Shadow Chief Secretary Philip Hammond said: ‘The more we see of Labour’s death tax plans, the more shocking they will appear to people.
Read more: http://www.dailymail.co.uk/news/article ... nsley.html
The Tories have stepped up their onslaught on Labour over social care, claiming that the Government was secretly planning to charge a £50,000 inheritance tax levy on people with estates of £500,000.
The claim was made after it emerged that pollsters Ipsos Mori, who carry out research for the Health Department, conducted a survey in which people were asked if they would pay a ten per cent levy of their estate when they died to cover the cost of care for the elderly.
The poll included an example of a person with an estate of £500,000, of which £50,000 went to the taxman.
Shadow Chief Secretary Philip Hammond said: ‘The more we see of Labour’s death tax plans, the more shocking they will appear to people.
Read more: http://www.dailymail.co.uk/news/article ... nsley.html