Iain Duncan Smith has accused Ed Miliband of using a loophole to avoid paying inheritance tax on his mother’s home. He made the claim after it emerged the Labour leader and his family used a ‘deed of variation’ to divide up ownership of the family home in North London. A Labour spokesman responded: “Iain Duncan Smith brings politics into disrepute by repeating what is a straightforward lie. Ed Miliband has made sure all taxes due have been paid.”
“All taxes due have been paid.” We’re sure we’ve heard that phrase before somewhere. Where was it now? Oh yes: isn’t that what Starbucks, Amazon, Google et al vociferously protested when the villagers came knocking at midnight with blazing torches and pitchforks? Could someone please explain why when an international company pays exactly what the law demands, that is a hanging offence; but when the leader of the opposition (or any other politician, come to that) pays exactly what the law demands any suggestion that avoidance is involved is a “straightforward lie”?