Little help for pensioners likely in Budget

Little help for pensioners likely in Budget

Chancellor unlikely to change inheritance tax thresholds

As the Budget date draws nearer, pensioners should not expect much help from
the chancellor, Ernst & Young has warned.

Despite more and more taxpayers falling into the inheritance tax net,
including many pensioners, the firm said Gordon Brown was still expected to set
out the inheritance tax rules where retirement benefits are passed to
descendants.

Added to this, the thresholds for inheritance tax are already set for 2006/07
and 2007/08 so there is unlikely to be any significant changes in this respect,
E&Y said.

Rather, it is likely the chancellor will continue to close perceived
loopholes in the inheritance tax legislation.

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