ED MILIBAND and the Labour party are once again pretending to be the working class heroes. This time it’s about the tax avoidance issue, so when will Mr Miliband pay the full inheritance tax that he owed after the death of his parents and the dividing of their estates?
They used a scheme called “deed of variation” after their mother died. Leading accountants believe that such schemes always reduced inheritance tax bills. Labour promised to close this scheme and identified it as an abuse, but it remains a legal tax-saving device.
Non-dom numbers exploded during Tony Blair’s New Labour premiership. They doubled from 67,600 to 137,000 between 1997 and 2007 as his colleague Peter Mandelson pronounced that the government was “intensely relaxed about people becoming filthy rich”, so long as they paid their taxes,. W with both Labour and Tory parties receiving donations from wealthy men who took part in the HSBC/ Swiss scheme.
Andrew Nutt, Heolddu Road, Bargoed
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