HL Deb 27 January 2005 vol 668 cc182-3WA
Lord Oakeshott of Seagrove Bay

asked Her Majesty's Government:

What is their estimate of the likely yield from levying a flat 10 per cent rate of inheritance tax on all estates with a taxable amount over £100,000, by comparison with the present arrangements. [HL926]

Lord McIntosh of Haringey

Compared to the current IHT regime, reducing the tax rate to 10 per cent and lowering the threshold to £100,000 would cost £1.4 billion in 2005–06 on a full year basis.