Sunday, August 27, 2006

Tories to give Tax cuts?

George Osborne said today that the The Tories will look at cutting stamp duty on shares if they get elected in the next election. What does that me to you and me? Not a lot directly but indirectly it could have a massive effect on our pensions. Most pension companies trade in stocks and shares and the 0.5% duty applied to these share trades impact on the value of your pension fund. They have not however committed to abolishing Inheritance Tax. Why not?. Osborne has agreed with with Stephen Byers that inheritance Tax is unfair but cannot commit to scapping it. Why not? Perhaps its because they have looked at the figures and come to the conclusion that it brings in too much money to just scrap it. If they want to reduce tax on middle England then this is where they should start. Read the full story from the telegraph here

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