David Cameron inherits

Posted 04/01/2011

David Cameron has inherited £300,000 from his father’s Will, meaning he is not eligible to pay inheritance tax.

Retired stockbroker Ian Cameron left an estate of around £2.7 million when he died last year from a stroke.

His eldest son Alex is a trustee but received nothing, while his daughters Tania and Claire benefited from a trust fund set up in their name.

The rest of the estate will go to Mr Cameron’s widow Mary, who will also avoid inheritance tax because assets can be passed between spouses after a death without incurring the levy.

Had the prime minister inherited more than £325,000 from his late father, he would have been taxed at 40 per cent on anything above the sum based on new thresholds introduced during 2010.

The Telegraph’s financial expert Beverley Lavin recently recommended that British people should implement wealth management so that their relatives do not have to lose out on large parts of their inheritance due to the government’s tax system.