Covid-19: Death Duties and Inheritance Tax Debate

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Baroness Gardner of Parkes

Main Page: Baroness Gardner of Parkes (Conservative - Life peer)

Covid-19: Death Duties and Inheritance Tax

Baroness Gardner of Parkes Excerpts
Thursday 24th June 2021

(3 years, 4 months ago)

Lords Chamber
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Baroness Penn Portrait Baroness Penn (Con)
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My Lords, it is important to distinguish between the legitimate use of reliefs and those engaging in avoidance by bending the rules to gain a tax advantage that Parliament never intended. The Government have taken action in this area. Since April 2011, inheritance tax and trusts have been brought into the disclosure of tax avoidance schemes regime. This is to ensure that any new or innovative inheritance tax avoidance schemes involving transfers into trusts must be disclosed to HMRC.

Baroness Gardner of Parkes Portrait Baroness Gardner of Parkes (Con) [V]
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My Lords, I confess to finding this question insensitive at this time, as it seems to be seeking to penalise for ever those who died from Covid and their families. Will the Minister instead consider the Australian system whereby people are taxed during their lifetime but there are no death duties?