[Sephiroth]

Originally Posted by jfman

The state double dips at every turn. You pay tax on your income and then on almost everything you spend. Even more tax if it involves petrol, alcohol, flying anywhere or anything remotely enjoyable.

The idea that children inheriting many multiples of the average salary is the line that can’t or shouldn’t be crossed when if they’d earned it themselves it’d be taxed is a red herring.

There’s no real indication that inheritance tax prevents parents achieving that goal. Although I do understand why any rational individual wants to avoid any tax.

Not a red herring at all. If the government instead lowers income tax or VAT or some other direct taxation, and you accumulate more wealth as a result, IHT takes that back at the 40% tax rate subject to the allowances.

IHT should be scrapped and the government should fund its business through direct taxation such as inccome tax, VAT, duties.