Budget 2015 – Deeds of Variation Warning

Taken together, all the new measures against tax avoidance and evasion will raise £3.1 billion over the forecast period.

I can also tell the House that we will conduct a review on the avoidance of inheritance tax through the use of deeds of variation. It will report by the autumn.

We will seek a wide range of views.

Mr Deputy Speaker, my RHF the Chief Secretary will tomorrow publish further details of our comprehensive plans for new criminal offences for tax evasion and new penalties for those professionals who assist them.

Let the message go out: this country’s tolerance for those who will not pay their fair share of taxes has come to an end.

So – fair warning that deeds of variation are scheduled for revision.  It’s one of those things that is constantly under threat – but now seems to be very definitely a target.

So, all estates currently in administration should endeavour to get variations completed before election day, to be on the safe side,,,

And those affluent children with elderly parents really need to encourage them to think about changing their wills, now more so than ever before.