Should Inheritance Tax Be Abolished Ahead of the Election?
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I’ve just read this - No10 plans to end inheritance tax in spring ahead of election PM hopes spring giveaway will increase chances as Labour prepares for early vote.
With the price of homes being at an all time high I think this is a great idea, do you?
I don't think they should be taxed on it anyway as the person before had paid all the tax before they even passed
I suppose I don't agree with it but as it only affects the top 4% I couldn't care less really. They make their millions from us so only fair they should give more.
I think that it needs to be adjusted because high house prices are dragging alot of working class home owners into that bracket; but they need to start closing the loopholes that allow the wealthy to avoid paying it.
as with nearly all of this governments policies this will only benefit the really rich - people like Rees Mogg and Sunak will save a lot of money. 96% of the country will see no difference. If they wanted to make fair tax cuts that benefit people at the lower end they could raise the tax fresh hold at the bottom of the scale like they used to.
didbygraham I beg to differ as if they do plan to change this tax all our hard working neighbours will benefit.
As ever its another tax cut that has to be funded by taking money elsewhere or just borrowing even more. It's a moronic policy when we are in a debt crisis with every single person in this country having about £150k of government debt and pension shortfalls on their head. The number one priority for any competent politician should be returning the country to a trading surplus and to start paying off our huge debts this is just a policy created by moronic politicians for moronic voters.
In theory it sounds great as many people have been paying this tax because of high house prices and yet.... when you consider who benefits the most from it you realise that they are giving themselves (the rich) a great boost as they are the ones who actually pay the most inheritance tax! I am surprised that this point doesn't seem to have been covered much in the press, or at least in the reports that I have read. I think they should have just changed the limit of those who pay it which would have made it fairer.
tumblespots I only saw a headline on an online newsfeed and nothing has been officially announced yet.
To be honest the tories will go with what they think their rich mates want and that's to save on taxes. They aren't interested in looking after the poor
Just a way of making the rich richer, typical Tory policy, we all know they do nothing for the average person
I think inheritance tax should depend on who is actually inheriting. Work on their tax code - so if you are on the standard tax code you should not have to pay inheritance tax - that money has already been taxed at least once as the house purchase will have come from earnings.
I do think that people who have these £100k incomes and several properties should pay inheritance tax.
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