Oral Answers to Questions

Debate between Lord Mackinlay of Richborough and Mel Stride

Tuesday 3rd July 2018 Commons Chamber

[Mel Stride]

The simple fact is that we need an HMRC that is fit for the 21st century, for the new digital ways in which we are working, and for our targeted approach on clamping down on avoidance, evasion and non-compliance, for example. That requires these sophisticated hubs that have the right skills to do that job, so I defend our reorganisation entirely.

On the portrayal of the economy that the hon. Lady has just given, we have the highest level of employment in our history, more women in work than at almost any time in our history and unemployment lower than at any time in the past 45 years. We are bearing down on the deficit and have debt falling as a percentage of GDP.

[Craig Mackinlay (South Thanet) (Con)]

13. What steps he is taking to invest in infrastructure in Kent.

Oral Answers to Questions

Debate between Lord Mackinlay of Richborough and Mel Stride

Tuesday 22nd May 2018 Commons Chamber

[Craig Mackinlay (South Thanet) (Con)]

T8. With the full phasing in of the residents’ nil-rate band for inheritance tax by 2020, a couple will potentially be able to leave £1 million free of inheritance tax to descendants. That is all very welcome, but having worked through the legislation in a real example, it seems unduly complex. Will my right hon. Friend now consider simplifying the law to make the overall IHT allowance a simple, no-nonsense £500,000 each and remove the complexity of the residents’ nil-rate band rules?

[Mel Stride]

My hon. Friend talks about complexity. The Office for Tax Simplification is looking into the way in which inheritance tax and the regime operate. Changing the way that tax reliefs operate in the way that he describes would add very significant cost. However, we do, of course, keep all taxes under review.