Lord Forsyth of Drumlean
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Inheritance Tax: Pensions
Lord Forsyth of Drumlean Excerpts(1 day, 11 hours ago)
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Lord Livermore (Lab)
I remember the noble Lord’s Question last year. As he knows, I will not speculate on the next Budget now or comment on individual tax measures ahead of time.
Lord Forsyth of Drumlean (Con)
My Lords, does the noble Lord accept the principle that it is wrong to raise any tax of any kind on people who do not have the cash to pay it?
Lord Livermore (Lab)
As I say, given that all the normal nil-rate bands will continue to apply, an estate can pass on up to £1 million with no inheritance tax. If you are leaving £1 million, you probably have the cash to pay the tax.