The hon. Lady will know that we still intend to bring forward the cap. It has had to be delayed, but we intend to do it during this Parliament. The Budget delivers for all the people of this country, including those who work hard, save hard and want to be able to pass on an asset to their children. In the Bill, we introduce a new £175,000 per person transferable allowance when a person’s home is passed on at death to their children or grandchildren. With the allowance, married couples and civil partners can now pass on an estate worth up to £1 million before having to pay any inheritance tax.
Finance Bill
Proceeding contribution from
Damian Hinds
(Conservative)
in the House of Commons on Tuesday, 21 July 2015.
It occurred during Debate on bills on Finance Bill.
Type
Proceeding contribution
Reference
598 c1452
Session
2015-16
Chamber / Committee
House of Commons chamber
Librarians' tools
Timestamp
2017-06-05 15:17:57 +0100
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