Quote:
Originally Posted by OLD BOY
Your ‘ordinary people’ do not have such tax assets and are therefore ‘All right, Jack’.
The point you are missing is that these assets have already been taxed, so why tax them again? It’s ludicrous.
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The point you're missing OB, is that most of the wealth has come from massive rises in property values.
I'll be honest here. IHT is something I'm affected by, (currently going through probate for my mother). Yes my parents paid tax, but they bought their property for £6k, its now £600k. That's just luck.
I'd rather a chunk of tax was taken from my inheritance, so that if I ever need the services of the NHS ( we all will at some point), it's there for me. It certainly was for my parents in their final years, they got their money's worth there. Also I'd like UK plc to remain solvent as that's in my interest too.