Skip to main content

Inheritance Tax

Volume 130: debated on Wednesday 30 March 1988

The text on this page has been created from Hansard archive content, it may contain typographical errors.

To ask the Chancellor of the Exchequer if he will estimate the revenue effect in 1989–90 of reducing the top rate of inheritance tax to 40 per cent.; and if he will give the most recent available figures for the annual number of taxpayers paying inheritance tax at a rate above 40 per cent. and the average value of their estate.

The cost in 1989–90 is estimated at £150 million. It is estimated that for 1987–88 a total of 5,200 taxpayers will have paid IHT at rates above 40 per cent. The average value of their estates is estimated at £475,000.