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Can someone explain to me why...

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By *egDaySkipper OP   Man
2 days ago

Liverpool

There are people who support inheritance tax?

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By *uzzleMan
2 days ago

Hastings

We work all our lives, pay taxes, also pay taxes on savings, pay council tax etc etc.

Inheritance tax should not be a thing. No man, court, council or government has a right to take what was once mine.

I should be free to leave it to whom I wish.

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By *ornyRebel88Man
2 days ago

North Cork

It’s like any tax, it all goes into the same pot. If it was abolished the income it generates would need to be generated elsewhere.

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By *hunky GentMan
2 days ago

Maldon and Peterborough

It's bad enough, but the worse bit (imo) is you pay it on every time a property is handed down.

.

I imagine those with loads a money/assets find ways around it.

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By *batMan
2 days ago

Alicante, Spain. (Sometimes in Wales)

Nobody likes paying tax, but nobody likes a lack of public services.

I’m not sure why farmers should get a perk? Why don’t we clap for them on a given night?

Gbat

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By *agnar73Man
2 days ago

glasgow-ish


"There are people who support inheritance tax?"

I think in terms of comparison to European countries, the most well off or richest do better in terms of avoiding tax and there’s multiple ways to offset and avoid.

I think those that can afford to pay tax should and as long as system is fair then, contributing in tax in the same way as those that are on PAYE do is fair.

The large companies that could pay more too.

The inheritance tax on farms is a loophole that large landowners and investors have got into, it’s unfortunate and unfair on actual genuine working farmers.

I don’t think clarkson is, naming it diddly squat, as that was his intention in buying that farm to pay nothing in inheritance tax, says much about him.

For most people it shouldn’t be a huge issue hopefully.

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By *batMan
2 days ago

Alicante, Spain. (Sometimes in Wales)


"There are people who support inheritance tax?"

What would you replace it with?

Gbat

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By *egDaySkipper OP   Man
2 days ago

Liverpool

I am asking why are so many supporting inheritance tax, not why they are opposed to it

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By *icolerobbieCouple
2 days ago

walsall


"There are people who support inheritance tax?

What would you replace it with?

Gbat "

Gambling tax.

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By *icecouple561Couple
Forum Mod
2 days ago

East Sussex

I can't believe there are people who support taxing my pension. But here we are...

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By *icecouple561Couple
Forum Mod
2 days ago

East Sussex


"I am asking why are so many supporting inheritance tax, not why they are opposed to it "

Aren't they supporting applying inheritance tax to everyone rather than the tax itself?

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By *agnar73Man
2 days ago

glasgow-ish


"I am asking why are so many supporting inheritance tax, not why they are opposed to it "

I’m neither supporting or opposing it, previous versions were much more stringent and the National Trusts got a lot of nice stately homes people can visit.

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By *ophieslutTV/TS
2 days ago

Central

The state needs taxes, so that you need an adjustment, if you want to remove one type of tax.

Poorer people generally pay the higher effective tax rates from their limited income, so anything that slightly rebalances that does help to lessen their burden.

We've had a long sustained period where the wealthier of us have had immense growth in our wealth. Unlike those at the lower income levels, who have seen losses. If tax is levied where there's been sustained bolstering and protection of higher wealth, then it's again reasonable, unless you want to make the majority of people even poorer. It's complex but you impose a simple, loaded proposition

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By *ad NannaWoman
2 days ago

East London

Probably people who won't ever inherit anything thinking people who do are rolling in it.

A family member died a widower and childless so his £1.5 million inheritance went to surviving family. The government took a fair chunk of it before it was distributed to our family.

I wonder what the government did with it.

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By *ad NannaWoman
2 days ago

East London


"Probably people who won't ever inherit anything thinking people who do are rolling in it.

A family member died a widower and childless so his £1.5 million inheritance went to surviving family. The government took a fair chunk of it before it was distributed to our family.

I wonder what the government did with it."

Free money. I did nothing for my £9000.

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By *avid 50Man
2 days ago

kendal

my view as a farmer is the big farms owned by companies and investors will never have to pay inheritance tax they have advisers to ensure that nothing is ever to pay

it is the average size farms of 200 acres plus that are at risk, with land values at £10,000 an acre and a farmhouse in buildings you are soon over the 3 million ceiling even though the Farm is only big enough to generate the capital for one farmer and his son, Asset rich but financially poor. A farmer on such a farm Will rarely take a holiday and never take a wage and his lifetime ambition is to hand his farm onto his son,

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By *egDaySkipper OP   Man
2 days ago

Liverpool

[Removed by poster at 19/11/24 23:49:36]

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By *lynJMan
2 days ago

Morden


"Probably people who won't ever inherit anything thinking people who do are rolling in it.

A family member died a widower and childless so his £1.5 million inheritance went to surviving family. The government took a fair chunk of it before it was distributed to our family.

I wonder what the government did with it.

Free money. I did nothing for my £9000."
the government will have taken 40% of £1.15m (there's a £350,000 tax free allowance)

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By *ornucopiaMan
1 day ago

Bexley


"Probably people who won't ever inherit anything thinking people who do are rolling in it.

A family member died a widower and childless so his £1.5 million inheritance went to surviving family. The government took a fair chunk of it before it was distributed to our family.

I wonder what the government did with it."
I know someone who has made his will entirely to the government.

I wonder what they will spend that on. Hopefully something contentious!

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By *arakiss12TV/TS
1 day ago

Bedford

It's a rip off because the money invested into a family estate and savings have already been taxed so inheritance tax is taxing it again.

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By *batMan
1 day ago

Alicante, Spain. (Sometimes in Wales)


"I am asking why are so many supporting inheritance tax, not why they are opposed to it "

Yeah, I get that. What I’m asking you is, hypothetically what would you replace it with?

Gbat

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By *arry and MegsCouple
1 day ago

letterkenny


"

I think in terms of comparison to European countries, the most well off or richest do better in terms of avoiding tax and there’s multiple ways to offset and avoid.

"

Really ? Perhaps you could give us a few examples ?

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By *itygamesMan
1 day ago

UK


"

I think in terms of comparison to European countries, the most well off or richest do better in terms of avoiding tax and there’s multiple ways to offset and avoid.

Really ? Perhaps you could give us a few examples ?"

Thats why the big burger chains and gambling sites and wealthy bank abroad....its clever accounting, not illegal

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By *rDiscretionXXXMan
1 day ago

Gilfach

There's a certain sort of left-leaning person that believes that the world is made up of workers, and idle rich. Workers are the lifeblood of the country, and the idle rich are parasites leeching off the workers.

Their thinking is that workers should be allowed to build up savings, and absolutely should be able to pass those hard won earnings to their children. But no one should be allowed to become idle rich just by inheriting money from their parents, so rich men's estates must be taxed to ensure that does not happen.

The problem is that the population as a whole is getting richer, and house prices are rising, and now we are at the point where an average worker can end up with an estate worth over a million pounds, just by buying a cheap house that increases in value through no fault of their own. So now we're taxing good honest workers who have had a bit of luck, and punishing their descendants for 'having rich parents'.

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By *itygamesMan
1 day ago

UK

i did hear once supermarkets are the ones effectivelyy making farmers poor for all there hard work by driving prices down, offering less than a penny for a pint of milk ...3p for a punnet of strawberries etc etc .

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By *rHotNottsMan
1 day ago

Dubai & Nottingham


"There are people who support inheritance tax?"

I support heavy inheritance tax on large estates and unearned wealth and privelage.

If the money and assets go back into the public pot when you die , there is more resources and opportunities to be shared fairly for future generations leading to a much fairer society for all.

Some argue it also leads to more innovation and creativity - people with inherited wealth are less likely to take risks and innovate and many innovators don’t have the support of government - we heavily tax small business whilst allowing the rich to preserve wealth across generations.

Currently in the UK most of the wealth, land and large business assets is simply passed down generation to generation , dating right back to 1066 when it was gifted along with fancy titles to Norman invaders. Much of this is done via trusts to avoid paying any tax.

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By *idnight RamblerMan
1 day ago

Pershore

It's an unfair and odious tax that brings double taxation. Effectively the government take 64p out of every £1 earned. It's no better than legitimised robbery.

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By *rHotNottsMan
1 day ago

Dubai & Nottingham


"It's no better than legitimised robbery."

Which is exactly how 160,000 families came to own two-thirds of Great Britain

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By *idnight RamblerMan
1 day ago

Pershore


"It's no better than legitimised robbery.

Which is exactly how 160,000 families came to own two-thirds of Great Britain "

So you think we should go back to medieval times and everybody has an allotment for food? But who'd build the cars, fly the planes ......??

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By *hrill CollinsMan
1 day ago

The Outer Rim

just do awat with tax altogether .... then there's no need for government or any other institution .... solved

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By *ostindreamsMan
23 hours ago

London

People mostly support taxes which won't affect them and oppose taxes which affect them.

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