The Remittance Man has produced a simple graphic to illustrate this.
That said, I'd be perfectly happy to scrap IHT and SDLT in their entirety and make up the shortfall with a few extra Council Tax bands, no reason why we shouldn't go all the way to Band Z for £1 million-plus homes.
If we're cutting taxes, then the priorities have to be 1) Double the personal allowance, 2) Scrap higher rate tax, 3) Phase out Employer's National Insurance, and 4) Reduce and simplify VAT.
That said, I'd be perfectly happy to scrap IHT and SDLT in their entirety and make up the shortfall with a few extra Council Tax bands, no reason why we shouldn't go all the way to Band Z for £1 million-plus homes.
If we're cutting taxes, then the priorities have to be 1) Double the personal allowance, 2) Scrap higher rate tax, 3) Phase out Employer's National Insurance, and 4) Reduce and simplify VAT.
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