| Inheritance tax 11:56 - Sep 24 with 3912 views | DJR |
I mentioned a hint of this on another thread, but the Sunday Times today is firming up the fact that the Tories look like they are going to pull something out of the hat on inheritance tax before the election to huge public approval.
But as I said on that thread, and as the the following from the paper indicates, the vast majority will never come anyway near to paying the tax. But it just goes to indicate another area where the Tories use public ignorance to their advantage.
"... government advisers are clear that there are political gains to be made this side of an election. “This is the most hated tax in Britain, according to the polls,” the source said. “It’s the most hated tax at every income. A lot of people don’t know they won’t pay it. People also feel it is just wrong to tax people on income that has already been taxed – and at a time when they are grieving.”
The most recent Treasury figures show that only 3.76 per cent of UK deaths result in an inheritance tax charge. However, YouGov polling for The Times suggests that almost a third (31 per cent) of people think their assets will be enough to attract inheritance tax when they die, and 15 per cent expect to receive an inheritance large enough to attract the tax. Only 5 per cent know the threshold for inheritance tax was usually £1 million."
[Post edited 24 Sep 2023 11:57]
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| Inheritance tax on 06:52 - Sep 25 with 607 views | DJR |
| Inheritance tax on 20:43 - Sep 24 by mutters |
Not that I am trying to defend the royal family not paying their fair share of tax the vast majority of her wealth is owned by the crown, which is not actually assessable for IHT as I understand it. The 430 million quoted should be however, like a lot of people various trusts etc can be used to mitigate these taxes. Lots of ways to evade sorry I meant avoid tax 😜 |
Yes, it's part of the anachronistic concept of Crown immunity that, amongst other things, means the monarch is personally immune from criminal or civil proceedings, and members of the Royal Household don't have the rights that other workers do. | | | |
| Inheritance tax on 14:32 - Sep 26 with 512 views | jayessess |
I've always been a bit bemused by the fury around Inheritance Tax. Always struck me that if the state does need to take money off me, when I'm dead and don't need it anymore really is the ideal time from my perspective. |  |
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| Inheritance tax on 15:27 - Sep 26 with 475 views | DJR |
| Inheritance tax on 14:32 - Sep 26 by jayessess |
I've always been a bit bemused by the fury around Inheritance Tax. Always struck me that if the state does need to take money off me, when I'm dead and don't need it anymore really is the ideal time from my perspective. |
Absolutely. And given that I think we should be taxing wealth much more, it seems bizarre to be removing what I think is the only tax which attempts to capture a small fraction of it.
Also interesting to hear a couple of people on the Jeremy Vine show moaning about having to pay inheritance tax on very sizeable inheritances.
One was in the process of inheriting 13 rental properties, and was complaining about having to sell one or two to pay the inheritance tax.
Would that all those struggling with the cost of living only had such a problem to worry about. [Post edited 26 Sep 2023 15:40]
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| Inheritance tax on 15:33 - Sep 26 with 446 views | Blueschev |
| Inheritance tax on 15:27 - Sep 26 by DJR |
Absolutely. And given that I think we should be taxing wealth much more, it seems bizarre to be removing what I think is the only tax which attempts to capture a small fraction of it.
Also interesting to hear a couple of people on the Jeremy Vine show moaning about having to pay inheritance tax on very sizeable inheritances.
One was in the process of inheriting 13 rental properties, and was complaining about having to sell one or two to pay the inheritance tax.
Would that all those struggling with the cost of living only had such a problem to worry about. [Post edited 26 Sep 2023 15:40]
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It's absolutely abhorrent that anybody inherits 13 properties. I'd raise inheritance tax to 100%, that'd separate the workers from the shirkers. |  | | |
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