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.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
