Sunday, 1 October 2023

No 275: Should Inheritance Tax Be Abolished

THE link below will take you to an interesting exchange of letters on the topic of UK inheritance tax - a tax that households pay on the value of the estate left behind when a family member dies. 

There are predictions that the Conservative Party will soon announce the abolition of the tax will be one of their manifesto policies for the election next year.

Many agree - thinking the tax is unfair since everything in a person's estate has already been taxed in their lifetime - but others point out that it is only the very rich (about 3.7% of the population) who are liable for the tax anyway, and many of these people employ tax accountants to help them avoid paying the tax at all.

What do you think?

https://www.theguardian.com/money/2023/sep/28/will-ditching-inheritance-tax-make-british-society-a-fairer-place

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