News
Policy Report: Inheritance Tax reliefs: time for reform?
This new Policy Report looks at Inheritance Tax (IHT) reliefs and their role in driving differences in effective tax rates across estates. While IHT nominally applies at a flat rate of 40% to estates over £325,000, most estates do not pay anywhere near this thanks to the proliferation of allowances, exemptions and reliefs.
News release: A quarter of £10 million+ estates pay less than 9% Inheritance Tax
A new CenTax report finds that a quarter of estates worth over £10 million pay less than 9% Inheritance Tax, thanks to uncapped exemptions and reliefs.
One in six estates worth over £10 million currently pay an effective tax rate of less than 4%, even among estates not eligible for the (uncapped) spouse exemption, whilst another quarter pay close to the 40% headline rate of Inheritance Tax (IHT). These huge disparities are driven by the use of allowances, exemptions and reliefs, including Business Relief, Agricultural Relief.
News release: Reform Capital Gains Tax to make it fairer and more efficient – and raise £14bn
Reforming Capital Gains Tax would raise £14bn while making most Capital Gains Tax payers better off and boosting growth., finds a new report from CenTax. The report marks the first independent analysis of potential CGT revenues using the same data available to government.
News release: Boost growth by equalising Capital Gains Tax rates with Income Tax rates
A new report from CenTax argues that Capital Gains Tax rates should be equalised with Income Tax rates to support productivity and growth.
News release: UK should have a Capital Gains ‘exit tax’
The UK should have an ‘exit tax’ like Australia and Canada, argues a new report from the Centre for the Analysis of Taxation (CenTax).
The UK is an international outlier in not charging Capital Gains Tax (CGT) on people who leave the country. The authors calculate that this is costing the UK at least £500 million per year in foregone CGT, although the true figure is likely to be much higher.
News Release: Money for nothing? An assessment of tax reliefs and wealth inequality
Dr Arun Advani is one of 21 tax experts and political influencers writing for a new collection of essays, A wealth of opportunities published by independent think tank Bright Blue and independent charitable trust abrdn Financial Fairness Trust.
The publication brings together a range of experts and political leaders to offer a fresh and radical centre-right vision to help people on modest incomes build up and pass on wealth.
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The Centre for the Analysis of Taxation (CenTax) is dedicated to improving public understanding of tax policy and helping to design better a better tax system, by generating evidence that is rigorous and relevant to policymakers and the public. CenTax is led by Dr Arun Advani (Warwick) and Dr Andy Summers (LSE). CenTax is supported by core funding from the abrdn Financial Fairness Trust and Thirty Percy Foundation