New Iht Relief On Homes

[dancecaller]

I've read the Guardian article based on treasury leaks http://www.theguardian.com/money/2015/mar/16/tories-1m-inheritance-tax-giveaway-sensitive-papers-wealthier-households

I think it said the change would come into effect in April '16.
Will it be in law before the election? And will it still happen if the Tories lose.

[ToraToraTora]

No, and probably. An incomming government generally honours things put in motion by the preceeding governement unless it is totally against their own ideals. So If Labour end up governing I'd be very surprised if they stopped this.

[themas]

This is just a proposal which may go into the Conservative manifesto. It will certainly not go ahead if anyone other than Conservatives win the election.

[dancecaller]

Hmmm.
Lack of unanimity there then. Leaves me still wondering.
Thanks though.

All the Spring and Autumn budgets are getting so confusing that I don't know what changes are happening when.

[Peter Pedant]

// I think it said the change would come into effect in April '16.
Will it be in law before the election?//

unanimity - you know the answer - April 16 - I noticed that and thought oh yeah good one

will it be in law before the election - the one in May 15 - well what do you think ? one is a year before the other

However - there is a mechanism to do this - budget speeches where beer or petrol goes up - when the speech finishes then there is a resolution that puts up the prices immediately before the Finance Bill is enacted

so you go out of your house after the budget and the prices are already up in the petrol stations

[ yeah and so they did that for IHT - I can really believe that ]

[themas]

The article is typical Guardian rubbish! This is not something which will definitely come in next year, even if (as seems most unlikely) the Conservatives win an outright majority. It is a proposal which will presumably appear in their election manifesto but it is pretty well unthinkable that the manifesto will specify a fixed date for it. That is a decision which the next Government will make - if it is a Conservative one.