Summer Budget 2015 Resolution 3 — Inheritance Tax — 14 Jul 2015 at 18:50

Jeremy Corbyn MP, Islington North voted against raising the effective threshold for starting to pay inheritance tax to £1 million and against other changes to inheritance tax.

The majority of MPs voted to make changes to inheritance tax including raising the effective threshold for starting to pay inheritance tax to £1 million.

The motion supported by the majority of MPs in this vote was:

  • That provision (including provision having retrospective effect) may be made about inheritance tax.

The budget[1] raised the effective inheritance tax threshold to £1 million. According to notes published by Parliament[2] the motion:

  • Authorises the Finance Bill to provide (including provision having retrospective effect) for:
  • * the inheritance tax treatment of settled property;
  • * the introduction of a new nil-rate band when a residence is passed to direct descendants; and
  • * a freeze in the existing nil rate band for the tax years 2018-19, 2019-2020 and 2020-21.

The new nil rate band is the mechanism by which the effective inheritance tax threshold was raised to £1 million. A nil rate band is another term for the threshold at which inheritance tax becomes payable; the existing threshold at the time of the vote was £325,000.[3]

Settled property is property in a trust[4]. The budget[1] stated:

  • the government will introduce new rules to target avoidance through the use of multiple trusts. It will also simplify the calculation of trust rules.

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Debate in Parliament | Source |

Party Summary

Votes by party, red entries are votes against the majority for that party.

What is Tell? '+1 tell' means that in addition one member of that party was a teller for that division lobby.

What are Boths? An MP can vote both aye and no in the same division. The boths page explains this.

What is Turnout? This is measured against the total membership of the party at the time of the vote.

PartyMajority (Aye)Minority (No)BothTurnout
Con319 (+2 tell) 0097.3%
DUP7 0087.5%
Green0 10100.0%
Independent1 00100.0%
Lab0 211 (+2 tell)091.8%
LDem0 7087.5%
PC0 30100.0%
SDLP0 30100.0%
SNP0 55098.2%
UUP2 00100.0%
Total:329 280095.2%

Rebel Voters - sorted by party

MPs for which their vote in this division differed from the majority vote of their party. You can see all votes in this division, or every eligible MP who could have voted in this division

Sort by: Name | Constituency | Party | Vote

NameConstituencyPartyVote
no rebellions

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