Inheritance tax.

Currently, inheritance tax stands at 40% on all the deceased's estate over £285,000. This allows people who have done no work, or anything else to deserve it, to profit purely because their parents had money.

How is it just that some people stand to gain a large windfall purely because of who they are, and who they were born to.

If inheritance tax was reformed, it would create a level playing field between people if all classes and backgrounds, making the UK a fairer, more equal society.

I propose that inheritance tax be increased to 100%, with the exception of one family house (up to a certain value, and that has been in the family for a certain number of years, as yet undecided).

As well as encouraging equality among the people of the UK, it would also allow the government to decrease otgher taxes, such as income tax, in order to encourage hard work among the population; preciesly the opposite of what inheritance tax is doing now.

Anyone agree?

Currently, inheritance tax stands at 40% on all the deceased's estate over £285,000. This allows people who have done no work, or anything else to deserve it, to profit purely because their parents had money.

How is it just that some people stand to gain a large windfall purely because of who they are, and who they were born to.

If inheritance tax was reformed, it would create a level playing field between people if all classes and backgrounds, making the UK a fairer, more equal society.

I propose that inheritance tax be increased to 100%, with the exception of one family house (up to a certain value, and that has been in the family for a certain number of years, as yet undecided).

As well as encouraging equality among the people of the UK, it would also allow the government to decrease otgher taxes, such as income tax, in order to encourage hard work among the population; preciesly the opposite of what inheritance tax is doing now.

Anyone agree?

Hammer, sickle, little red flag.... property is theft... why don't we just let the state own everything?

I think inheritance tax is wrong, because taxing it is taxing the income twice. One by the person that earnt it and then again by the person that inherited it.

The problem is we now need inheritance tax because it contributes alot. Personally i think we should keep it but make the family home non-taxable. So that people can pass on their home and everything after that (assets) becomes taxable.

I think its wrong that when a person inherits their families only house they get a massive great tax bill for it. inheritance tax was meant to help social mobility by taxing an amount of the asset rich. Not deprive "ordinary people" of their family home.

In most cases the tax bill isn't great, you need to inherit large amounts of money for it to really sting your wallet. And I already explained that it isn't income that has been taxed twice.

The problem is we now need inheritance tax because it contributes alot.

In most cases the tax bill isn't great, you need to inherit large amounts of money for it to really sting your wallet. And I already explained that it isn't income that has been taxed twice.

....buy house at 200k, due to property price inflation it rises to 300k, you get taxed on it, that money hasn't been taxed already.

I think inheritance tax is wrong, because taxing it is taxing the income twice. One by the person that earnt it and then again by the person that inherited it.

The problem is we now need inheritance tax because it contributes alot. Personally i think we should keep it but make the family home non-taxable. So that people can pass on their home and everything after that (assets) becomes taxable.

I think its wrong that when a person inherits their families only house they get a massive great tax bill for it. inheritance tax was meant to help social mobility by taxing an amount of the asset rich. Not deprive "ordinary people" of their family home.

....buy house at 200k, due to property price inflation it rises to 300k, you get taxed on it, that money hasn't been taxed already.

I think Inheritance Tax is set far too low. It is catching working and middle class people for whom it was never intended.

That would be an argument for having capital gains tax on all property, not for taxing the whole 300k on death, especailly when 2/3 has been earned, and so already taxed.