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.
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@9LJT4MR12mos12MO
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.
@9JYMMMQ1yr1Y
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 1yr1Y
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%)
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.
@9PPPYQY9mos9MO
There should be a 100% inheritance tax, why should the rich be allowed to hoard generational wealth while the rest of us suffer an ever widening wealth gap.
@8SFC6MV4yrs4Y
No, but Aristocrats should be exempt
@8RTT9FY4yrs4Y
Yes, and increase the tax-free allowance.
@8Q5DX2K4yrs4Y
Yes, the money and possessions are ownership, savings and hard earn't to be passed down to next of kin. The government should have no right to try and claim any of that in tax or otherwise.
@8GDC8KX4yrs4Y
Its the most important tax to preserve capitalism from a return of feudalism. It should be enforced zealously
@9BNKKW62yrs2Y
No, but lower it to a reasonable amount
@9996KRC2yrs2Y
Yes, treat the money received as taxable income instead.
@92PQZZR3yrs3Y
No but make it apply to the wealth as well, close loop holes
@8WF3V9G3yrs3Y
Yes, but raise the tax-free allowance considerably
@8VJG2PJ4yrs4Y
No, but your main residence should be exempt.
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