Throughout the General Election, Primondell will do updates on the taxation policies of the major parties.
We are still in the stage before the manifestos are published so although there have been a considerable number of spending pledges already, confirmed tax policies have been thin on the ground.
Confirmed policies so far include Liberal Democrats increase in the Corporation Tax rate to 20%, cancelling the planned reduction to 17%. Increased Capital Gains Tax and Inheritance Taxes – scope undefined as yet.
Labour increased Corporation Tax to 26%, increases in Capital Gains Tax and an overhaul of Inheritance Tax which could see the return of a form of Capital Transfer Tax which will extend to all gifts even where the participant lives for more than 7 years after the gift is made.
Conservatives continue with the reduction of Corporation Tax to 17% in April 2020.
We should see considerable details once the manifestos are published.
What is abundantly clear is that the 2019 General Election will see a greater divergence between tax policies than has been the case since the 1992 election.