Budget 2010: What will it mean for YOUR family? Daily Mail
James Ferguson from accountants Deloitte says: ‘Changing the capital gains tax rate would make a lot of headlines, but they’ve already gone through a very painful process in bringing in the 18 per cent rate.’
Accountants KPMG speculate that Mr Darling may go further and introduce a 50 per cent inheritance tax rate on estates worth more than £1 million.
But on the bright side, a fairly painless pre-election giveaway would be to increase the inheritance tax allowance. At present, this is £325,000 per person. Above that, inheritance is taxed at 40 per cent.
A planned increase to £350,000 was previously put on ice. Putting the limit back up will only lose the Treasury an estimated £100 million, but would be popular and is more likely than any increase in the tax rate to 50 per cent.
Pensions tax relief is already being restricted for high earners and there are concerns it could go further.
Those earning just over
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