In The Sunday Times, it is
reported that the chancellor stands to make three times as
much in inheritance tax on the savings schemes as he ever
gave in tax breaks.
A new study calculates that the chancellor
stands to pocket a £15 billion
inheritance-tax (IHT) windfall from Pep and ISA savers when they die - nearly
three times the amount of other taxes that investors have saved during their
lifetime.
The average IHT bill for someone who has
taken full advantage of Pep and ISA allowances since 1987
could be £116,000. But
they would have saved only £42,000
in income and capital-gains tax (CGT).
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