Increasing the inheritance tax threshold will help wealth pass between the generations

Tuesday 14 October 2014

Commenting on the Prime Minister’s hints that Government may increase the inheritance tax threshold to £1million in advance of the next election, Saga’s Director of Communications Paul Green commented:

Increasing the inheritance tax threshold will help wealth pass between the generations

 “Saga welcomes any considered move that allows more people the chance to pass on their hard-earned wealth to families and loved ones - cascading wealth down the generations is a good thing. There are many parts of the country where just owning a relatively modest home puts you in the frame for paying inheritance tax.

“Whilst the rich can pay for their affairs to be carefully managed, enabling them to swerve the levy, it's the affluent middle class that end up being clobbered by an inheritance tax threshold that has simply failed to keep up with house prices increases.  

"This move will not only be welcomed by older homeowners who want to pass on an inheritance, but also to their children, grandchildren and loved ones who stand to directly benefit from the change".

Ends

For further information or an interview please contact Saga's head of communications Lisa Harris on 01303 774716 or 07515 496321

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