Conservatives eye post-death taxes to fund social care
The Conservatives are considering a range of possible tax-raising measures to pay for social care, according to reports, including changes to IHT or a charge on wealth at the point of the state pension age. Theresa May refused to rule out a new “death tax” to fund rising social care costs while on the campaign trail and said voters would have to "wait for the manifesto". Stuart Adam, from the Institute for Fiscal Studies, said that the government would have a range of options to choose from, “ranging from small tweaks to the system to a radical overhaul”. He added that the government could also consider abolishing the forgiveness of capital gains tax at death, for which there was "no rational basis".
Source: Financial Times (13/05/2017)