Coming soon from pro-business Tory party Coming soon from pro-business Tory party
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    Default Coming soon from pro-business Tory party

    Is this inheritance tax break under threat after Philip Hammond's NI fiasco?

    "One of investors’ favourite ways to avoid inheritance tax could be scrapped – as a perverse side effect of the Chancellor’s about-turn on National Insurance.

    Philip Hammond needs to raise taxes somehow to replace the abandoned increase in NI. He may decide that the self-employed should still be the victims and simply find a new way to tax them that does not break a Tory manifesto commitment.

    One tax break that is currently enjoyed by many entrepreneurs is called business property relief. The perk is designed to prevent the founders of family businesses facing an inheritance tax bill when they die.

    But it also can also be enjoyed by outside investors in start-up businesses, who include holders of Aim-listed shares. Investors who put money into many (not all) Aim companies will avoid inheritance tax on the shares if they own them for two years or more."

    Is this inheritance tax break under threat after Philip Hammond's NI fiasco?

    That would certainly be a killer - it's not fecking "enjoyed by many entrepreneurs" because they would be fooking dead all of a sudden with illiquid shares that their grieving family won't have to sell at cut price in order to pay "inheritance".

    Tory Scum just want to push people to sell companies - anybody old with shares in Ltds will be pushed to sell and pay 20% as otherwise it could be 40%. Oh and by the way - in Hammond's budget CGT is projected to increase sharply over next few years, I wonder why!

    It should be the other way around - low tax on dividends to encourage people own and run business, and high tax on disposal.
    Last edited by AtW; 20th March 2017 at 18:12.

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