HC Deb 19 July 1995 vol 263 c1248W
Mr. Denzil Davies

To ask the Chancellor of the Exchequer what would be the total cost in a full year of increasing the nil band of inheritance tax to £250,000, reducing the 40 per cent. band to 25 per cent. and exempting from tax all lifetime gifts except those made within three years of death. [34208]

Mr. Jack

The full year cost in 1996–97, measured against an indexed base, of increasing the inheritance tax threshold to £250,000, reducing the rate of tax from 40 per cent. to 25 per cent., and exempting from tax all lifetime gifts made more than three years before death is estimated to be just over £1 billion.