Inheritance 'stealth tax' to fund care for the elderly: Home Care Group Springhill blog... - 1 views
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Boris Dwight on 11 Feb 13http://www.telegraph.co.uk/news/politics/9860430/Inheritance-stealth-tax-to-fund-care-for-the-elderly.html The Treasury is set to freeze the amount that people can inherit free of tax instead of increasing it in line with inflation. The allowance will be frozen at £325,000 despite George Osborne, the Chancellor, just eight weeks ago saying that he would increase the amount in two years. The rate will now not go up until at least 2019, according t The Sunday Times, meaning that thousands of families will be £95,000 worse off than if the allowance had risen. The measures would see 5,000 more people paying inheritance tax and are expected to contribute about £1 billion over the next five years towards the cost of care home bills for the elderly. Under those plans pensioners with savings of up to £123,000 are to receive state support with their care costs under Government plans. http://springhillcaregroup.net/