Some Christmas cheer from the chancellor.
Well, it looked like a Budget and sounded like a Budget – and we even have a draft Finance Bill next week – so I guess it was a Budget. George made it sound so good that you could almost believe everything is OK – and the dark looks from Vince Cable made it even more plausible. It is a pity we only have this theatre twice a year. The chancellor obviously wanted to be helpful but it shows how desperate he must be when he makes a big deal about increasing the inheritance tax nil rate band from £325,000 to £329,000 – from 2015. My heart rather sank at this point.
*This article was first published in Tax Journal on 7 December 2012