The inheritance tax is a tax on money and possessions you pass on when you die. A certain amount can be passed on tax-free, which is called the "tax-free allowance" or "nil rate band". The current tax-free allowance is £325,000 which has not changed since 2011 and is fixed at that rate until at least 2017. The inheritance tax is an emotionally charged issue as it comes up during a time of loss and mourning.
@9BFD47Z1yr1Y
Yes, but replace it with a Lifetime Receipts Tax (LRT)
@96HZKQ22yrs2Y
Yes, and replace it with a Lifetime Receipts Tax (LRT)
@8DSMZK2Liberal Democrat4yrs4Y
Only keep it for the very rich
@9LP4YWZ4 days4D
Absolutely, we pay tax all our working career then pay tax on our pension withdrawals as well as taxed when we purchase goods fuel etc therefore any wealth or inheritance should be passed on freely as a bonus to our own
@9LJT4MR1wk1W
Yes, it's double taxation, but only after the tax system is reformed to remove loopholes so you can guarantee tax has been correctly and fairly paid in the first place.
@99MWVGJ1yr1Y
Yes, and replace it with a lifetime receipts tax
@99M4MJS1yr1Y
Yes, all tax should be abolished.
@99D64CK1yr1Y
No but allow money given to national charities to be excluded
@99CR7FB1yr1Y
No, but it should be decreased.
@99C8FJ21yr1Y
Free allowance and not income support as well is so the worth of tax Dexter with more decrease no longer enquiries
@9996KRC1yr1Y
Yes, treat the money received as taxable income instead.
@98M8BPF1yr1Y
inheritance tax should be increase who receive over 60 000 for those who receive below 60 000 should shouldn't be taxed
Higher the thresh hold. Make it 2 million
@98JDT9M1yr1Y
For secon/third homes etc and/or raising cap
@98FGTYT1yr1Y
No, gradually abolish inheritance.
@9686WY62yrs2Y
Yes, and it should be increased
@964HRWR2yrs2Y
No - increase it to 100%
@962538C2yrs2Y
Yes, except for the highest bracket, which should be increased
@95W27KV2yrs2Y
Increase the rate of inheritance tax so that the individual is wealthy on their own merits not their ancestors.
@957JXKZ2yrs2Y
No, but lower the tax rates at all levels
@955SD9G2yrs2Y
Yes, remove this double taxation and instead reform the rest of the tax system to remove loopholes and tax the rich
@9JYMMMQ2mos2MO
The tax free allowance should be increased, and the tax should be applied to the received inheritance per inheritor, not to the estate as a whole.
@9J3L3H2Conservative 3mos3MO
Yes, but only if it is more than two years after the end of the current cost of living crisis (inflation brought below 2% and the economy growing by 5%)
@9G576MJ6mos6MO
No it is a tax that is good for the economy. This is because if someone inherits a large sum of money they will be less incentivized to work but if that money is taxed they will be more incentivized to contribute to the economy
@9DFDVVN8mos8MO
No, and it should be 100%
@9D5BVFH9mos9MO
Yes, the person you inherit off has payed tax on that money already. They have worked hard, paid their tax and left their wealth to the beneficiaries of their choice. The beneficiary should not have to pay tax again
@9D355DL9mos9MO
Yes, and replace it with a Lifetime Receipts Tax (LRT) on assets valued at £2 million or more
@9D2BQVQ9mos9MO
Yes, and replace it with a Lifetime Receipts Tax (LFT)
@9CJHNNWLiberal Democrat10mos10MO
No, raise the threshold to £1 million and then raise the rate to 75% above the threshold
@9CJDV7Z10mos10MO
Allowances and exemptions should be massively higher
@9CHKRKR10mos10MO
No - increase the tax free allowance and increase the rate above that threshold
@9C9982Q11mos11MO
100% inheritance tax so that money is released back into the economy for every generation instead of hoarded wealth.
Disallow inheritance above a small amount. Inherited wealth is very bad for society.
@9BNKKW612mos12MO
No, but lower it to a reasonable amount
@9BH99991yr1Y
Absolutely not!! Nobody should be become rich without contributing to society. Inheritance tax should be steeply graduated once it goes above a certain level
@9BCZ3R71yr1Y
Establish inheritance tax at 100% and redistribute all assets equally.
Why when you inherit should you pay tax on the money someone already paid tax on so they could leave something of benefit to family and friends for their future.
@99QYDG81yr1Y
Should be lowered to 30%
@99PB67M1yr1Y
No, but the inheritance tax should not be applied to savings or trusts that were taxed upon the depositing of the funds they contain.
@9866KWG1yr1Y
Abolish the government, currency and market economy
@98627JW1yr1Y
No, the tax-free allowance should be lowered as it is currently far too high.
Lower the inheritance tax rate
Make it progressive again. Instead of a flat 40% what about 30% for the first £1,000,000 and then 50% for above this figure? Do not make it based upon recipient's wealth as this would increase tax avoidance.
@94GSXM42yrs2Y
Yes, and reform to a flat tax
@93W32T62yrs2Y
No but reduce the amount taken
@92PJ98M2yrs2Y
Only have inheritance tax over a certain amount
@8XXDHD22yrs2Y
Lower the tax-free allowance to one years worth of minimum wage income.
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