Tories To Axe 55% ‘Death Tax’ In Pre-Election Bid To Woo UK Voters – 29 September 2014

RT logoChancellor of the Exchequer George Osborne is expected to announce plans to scrap a 55 percent tax on inherited pension savings at the Conservatives’ conference in Birmingham, as part of a broader Tory pitch to win the next general election.

During his speech to delegates at the conference, which began on Sunday and is due to come to a close on Wednesday, Osborne is expected to unveil a £150 million pre-electoral tax break that could reap benefits for hundreds of thousands of Britons. Following its implementation in 2015, the policy shift will abolish a 55 percent tax on pensions passed on to deceased UK citizens’ family members.

The tax cut is set to be confirmed in Osborne’s autumn statement scheduled later this year, and will come into effect in April 2015.

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