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The Brexit Party Manifesto 2019

06 December 2019

The Brexit Party's Manifesto includes only two pledges in relation to tax.

Abolish Inheritance Tax

The Brexit Party would abolish Inheritance Tax, which it refers to as a 'grief tax' that it claims raises less than 1% of total tax revenue. There is no suggestion in the Manifesto of whether Inheritance Tax would be replaced with any other type of tax.  

Several commentators have noted that this is a very expensive pledge, as Inheritance Tax raised £5.3 billion for the Revenue last year.   

Corporation Tax

The Brexit Party pledges to exempt from Corporation Tax those 1 million companies with profits before tax of under £5,000, which they insist will free up small businesses to create new jobs.

Summary

Unsurprisingly the Brexit Party's brief Manifesto is rather slim on it's stance on tax and how it would implement the proposal to abolish Inheritance Tax.  

This article is an impartial review of the manifesto for the upcoming election and does not reflect the views of Wrigleys and its staff.

Click here to read the summary of the tax aspects of The Conservative Party manifesto, The Labour Party Manifesto, The Liberal Democrat Party manifesto ot The Green Party Manifesto.

If you would like to discuss any aspect of this article further, please contact Aurea Kevill or any other member of the Agricultural Property or Private Client teams on 0113 244 6100.

You can also keep up to date by following Wrigleys on Twitter here.

The information in this article is necessarily of a general nature. Specific advice should be sought for specific situations. If you have any queries or need any legal advice please feel free to contact Wrigleys Solicitors

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