harristaxOct 1, 2023
Dan Neidle

Lots of people saying Rishi Sunak's family would get a £300m benefit from the abolition of inheritance tax. They're wrong. The Sunaks are already mostly exempt, thanks to an obscure 1950s loophole. More here:

https://www.taxpolicy.org.uk/2023/09/28/obscure_loophole/

An obscure loophole means Rishi Sunak's family probably wouldn't benefit from the abolition of inheritance tax. They're already exempt.

Until we get clear answers, it's reasonable to assume the Sunaks are using an offshore trust to avoid £100m+ of tax.

Tax Policy Associates Ltd
Sep 28, 2023 at 1:07pmMetatext
Show threadBaron VonskinnbackSep 28, 2023
@danneidle just another Tory in power feathering his own nest and changing laws for his own financial betterment, is there anything more Tory than that...
Show threadharristaxSep 30, 2023
@danneidle The French Estate Duty Treaty of 1964 also has some interesting technical quirks, but the French still have succession duty, which means that the attempt by UK to look through certain property rich offshore companies simply doesn’t work. The French « domicilié » still pays succession duty in France so no double taxation with no need for credit.