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Cancelling the Increase in death duties

There was a proposal to increase death duties from £155 to £215 and in some cases on larger estates the death duties could have been up to £20,000 has been dropped. Whether this means cancelled or merely postponed has not been said. The reason for the decision is that there is not enough time to get the legislation through parliament before the government is dissolved ahead of the general election on June 8th. below is what the BBC reported on the subject.

I feel that the proposal is probably delayed and not cancelled altogether and generally I think the proposed increase in the basic death duty will not be seen as a major issue. There may be some who disagree with the proposed variable amounts rising to £20,000 on the larger estates because it could lead to the sale of the inherited assets because the cash is not available to pay the death duties.

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