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User Name Thread Name Subject Posted
DMcG BS: Brexit & other UK political topics (2841* d) RE: BS: Brexit & other UK political topics 07 Sep 21

I agree with you, Steve, that we should really be looking at inheritance taxes for this. (It would also, incidentally, allow the Tories to keep their commitment not to raise VAT, NI or income tax.)

But the effect would not be limited to those with high values estates. Broadly, anyone who currently pays someone as an accountant will find ways to avoid most of the inheritance taxes, probably. These are, though, well aware of the impact of the 'death duties' that ended a lot of old estates and why so many are in the hands of the National Trust instead. The wealthy do not want to see a repeat of that.

Many of us, though, bought a house a decade or more ago and have seen its price double, treble or more in that period. That is unearned income just like that of the super-wealthy. There will be a lot of people upset - i.e. not as likely to vote for you - if the value of their estate is hit too hard. That may be the most just way of paying for things. I think it probably is. But it will cost politicians dear, and so they will avoid it.

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