Let’s put this in proportion Torsten

Scrapping inheritance tax is a very expensive pledge: it raised £5.3bn for the Treasury last year.

Inheritance tax raises less than 1% of the cash the political class confiscate each year to spunk on twattery. And 1% ain’t expensive…..

8 thoughts on “Let’s put this in proportion Torsten”

  1. I wonder what would be the effect on the rest of the economy if people were not doing everything they can to avoid the stupid imposition. Less distortion is usually better.

  2. What’s more, the article claims it would be a give away to the super rich. The super rich don’t pay inheritance tax, they’ve got everything squirreled away in trusts and the like. It’s the middle classes who are the only IH payers, and that’s mainly because they bought a house when they were affordable.

  3. The one that really grates is how life insurance counts towards your estate when you die, unless you jump through hoops and create a trust for the policy.

  4. @ Andrew M
    What really, really grates is having to fill in 140 pages of IHT forms just to show that one is not liable to pay any tax. That is even more than the forms one has to fill in if one is liable to some tax. I found having to pay for professional valuations of anything with a possible sale value annoying until I was faced with the IHT paperwork, whereafter it paled into relative insignificance.

  5. Andrew M, life cover in trust is very easily done; a simple form, free, from the insurance company will sort it.

    John77, absolutely! Have just done just such an exercise for my beloved father. Everything went to my mother, (so no IHT due, but valuations still required. Crazy.

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