Inheritance tax should be scrapped and replaced by a system that is fairer and harder to avoid, an economic think tank has said.
Death duty is a “failed” and “unfixable” tax which does not keep up with modern society, according to the Resolution Foundation.
Adam Corlett, Senior Economic Analyst at the think tank, said inheritance tax “manages the uniquely bad twin feat of being both wildly unpopular and raising very little revenue.”
The taxman collected £5.2m from inheritance tax in 2017-2018, a 53% rise in four years, figures from HM Revenue & Customs show
m is just so close to b on the keyboard, isn’t it?