Jeremy Corbyn plots tax on parents' gifts to children: £9bn raid would target Britons who got help to buy a house so that a hard-left government could 'better share out unearned windfalls' Jeremy Corbyn wants to impose lifetime gift limits on children of £125,000 Gifts or inheritance above this limit would be taxed as normal income tax rates Mr Corbyn's plan would tot up the total value of gifts received over a life time Under current inheritance tax rules, children do not pay tax on the first £475k
By Darren Boyle for MailOnline
Published: 01:51 BST, 16 June 2019 | Updated: 02:48 BST, 16 June 2019
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Labour leader Jeremy Corbyn is planning a tax raid on 'unearned income' by targeting parents who help their children onto the housing ladder.
He wants to scrap inheritance tax and instead introduce a policy of 'lifetime gifts' which would cover cash or homes given to children over the course of their lives.
The radical policy is contained in a document Land for the Many which has been written by environmental campaigner George Monbiot.
