Well, yes, this would happen

Labour’s mansion tax could leave pensioners facing death taxes worth almost half the value of their property, an analysis by Treasury aides has found.

If you roll up your tax bill to include it in your taxable estate then yes, your estate will face a larger tax bill than if you had not rolled up your tax bill into your estate. This all sounds reasonably logical and isn’t quite a “gotcha” reason for the tax not to exist.

This still leaves open the question of whether it’s a good tax or not (it isn’t, it’s shite) but that is another matter.

6 comments on “Well, yes, this would happen

  1. There is no such thing as a good tax. Some might argue that a good tax is one that does not affect them, but I just think that all tax is bad, but some taxes are less badder than others.

  2. If the distributors of tax raised spent sagaciously, fell on their swords when waste of citizens’ cash was discovered and swore an enforceable oath of allegiance to the ordinary person rather than their fellow taxeaters, then I wouldn’t be so pissed off.

  3. It may be a bad tax, but I am enjoying the arguments against it. That article goes on to say;

    “An analysis by a Treasury aide found that a family home bought in London 30 years ago for £220,000 is now worth £2 million.”

    A house that cost £220,000 30 years ago is a mansion.

  4. “An analysis by a Treasury aide found that a family home bought in London 30 years ago for £220,000 is now worth £2 million.”
    I’d be fascinated to know where he got his figures.
    Almost exactly 30 years ago I successfully bid on a three storey Edwardian terrace in fashionable Hampstead. Cost £77,800. We flatted it but as a family home it’d have to make well north of a million, now. About the same time, an acquaintance picked up an adjoining pair of mid C19th houses in St Johns Wood, fronting on the canal. I think they converted to a dozen flats. That project was around the £200K+ mark, going in.

  5. ““An analysis by a Treasury aide found that…”

    I think I may have discovered why UK’s £1.4t in schtuk.

  6. BI(n)S,
    I wonder where you’d have found something for £220,000 30 years ago. Was Kenwood House up for sale?

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