Inheritance tax ...

[StephenStephen]

So what. Jealous?

You mean envious, not jealous...

There are, I believe, a growing number of very rich people starting to voice their concerns about the need to tax the wealthy more...

...which makes it clear that it is possible to seek more equitable taxes without being motivated by envy ...

 

[Murdochcat]

The IHT tax take is broadly the same as EVERYBODY paying 1% more income tax.

So would you do away with IHT and let the richer in society off the tax AND all of us cover the bill instead?

 

[charliegolf]

So what. Jealous?

Not in the slightest. Work hard or don't. Earn and stockpile loads or don't. Just pay your taxes when due. Not hard.

 

[blup]

The IHT tax take is broadly the same as EVERYBODY paying 1% more income tax.

So would you do away with IHT and let the richer in society off the tax AND all of us cover the bill instead?

Because people have already paid tax on what they own, sometimes several times over.

 

[JonathanM]

Because people have already paid tax on what they own, sometimes several times over.

What's one more time, then

 

[Murdochcat]

Because people have already paid tax on what they own, sometimes several times over.

I can assure you that the misses and I have not paid any tax on the appreciating asset called our home

 

[JohnD]

Because people have already paid tax on what they own, sometimes several times over.

If you inherit a million pounds, how much tax have you already paid on ìt?

 

[blup]

If you inherit a million pounds, how much tax have you already paid on ìt?

Income tax, vat, maybe cgt, national insurance.

 

[carmanmemoranda]

Income tax, vat, maybe cgt, national insurance.

Have you though ?

 

[diy_fun_uk]

You mean envious, not jealous...

There are, I believe, a growing number of very rich people starting to voice their concerns about the need to tax the wealthy more...

...which makes it clear that it is possible to seek more equitable taxes without being motivated by envy ...

No, thanks for the English lesson however I mean jealous

feeling or showing an envious resentment of someone or their achievements, possessions, or perceived advantages.

 

[blup]

Have you though ?

Council tax, income tax on mortgage payments, stamp duty to acquire it, cgt (well most people). My point is £325k is a low threshold at which to start paying inheritance tax when it could help the next generation get on the housing ladder.

 

[blup]

I can assure you that the misses and I have not paid any tax on the appreciating asset called our home

Noted

 

[berty3000]

You obviously mean people on benefits!

How else would people who you believe do "nothing to earn for themselves" manage to survive?

Like you?

 

[Brigadier]

..... it could help the next generation get on the housing ladder

The issue then isn't IHT, but that a sizeable leg-up is required for many people to even get a sniff of owning their own home.

 

[JohnD]

Income tax, vat, maybe cgt, national insurance.

No, you haven't.