text_body: --- DIVISION TITLE ---
  
  Summer Budget 2015 Resolution 3 - Inheritance Tax
  
  --- MOTION EFFECT ---
  
  @ MP voted aye to make changes to inheritance tax including raising the effective threshold for starting to pay inheritance tax to Â£1 million.
  @ MP voted no against raising the effective threshold for starting to pay inheritance tax to Â£1 million and against other changes to inheritance tax.
  
  The majority of MPs voted to make changes to inheritance tax including raising the effective threshold for starting to pay inheritance tax to Â£1 million.
  
  
  The motion supported by the majority of MPs in this vote was:
  
  :That provision (including provision having retrospective effect) may be made about inheritance tax.
  
  The budget[1] raised the effective inheritance tax threshold to Â£1 million. According to notes published by Parliament[2] the motion:
  
  :Authorises the Finance Bill to provide (including provision having retrospective effect) for:
  : * the inheritance tax treatment of settled property;
  : * the introduction of a new nil-rate band when a residence is passed to direct descendants; and
  : * a freeze in the existing nil rate band for the tax years 2018-19, 2019-2020 and 2020-21.
  
  The new nil rate band is the mechanism by which the effective inheritance tax threshold was raised to Â£1 million. A nil rate band is another term for the threshold at which inheritance tax becomes payable; the existing threshold at the time of the vote was Â£325,000.[3] 
  
  Settled property is property in a trust[4]. The budget[1] stated:
  
  :the government will introduce new rules to target avoidance through the use of multiple trusts. It will also simplify the calculation of trust rules.
  
  ===
  
  * [1] [https://www.gov.uk/government/publications/summer-budget-2015 Summer budget 2015 documents]
  * [2] [https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/443537/Summer_Finance_Bill_2015_-_Notes_on_Resolutions.pdf Notes on the Summer Finance Bill 2015 resolutions]
  * [3] [https://www.gov.uk/inheritance-tax/overview Government webpage on Inheritance Tax]
  * [4] [https://www.gov.uk/trusts-and-inheritance-tax Government webpage on Trusts and Inheritance Tax]
  
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  