Anthony J Sargeant commented on a naive question posed by somebody on Quora website – “Was inheritance tax avoided on the estate of David Cameron’s late father?”
Of course the Cameron family would have had, and will still have, an elaborate accountacy strategy to avoid inheritance tax. The estate of David Cameron’s father for example was valued at £2.74 million pounds on his death. That may sound a lot to ordinary “hardworking families” (to use one of ‘Dave’s’ favourite expressions) but it is peanuts to the likes of the Cameron family. It is the cost of one rather modest central London town house. never mind country homes, off-shore investments and all the rest.Clearly much of the wealth has been sequestered away in family trusts and other vehicles to avoid inheritance tax. Such strategies to avoid tax are legal but only really available to the super-rich like Dave and his equally or perhaps even richer wife Samantha. Ordinary “hard working families” have little choice but to pay inheritance tax if the estate is valued at more than £325,000 at present (though the proposal to allow modest family homes to be excluded from the calculation of liability would increase this threshold somewhat).