- Tue Jul 18, 2023 12:40 am
#48793
Fully explained here, Abers: https://www.gov.uk/inheritance-tax
Abernathy wrote: ↑Tue Jul 18, 2023 12:02 am Right, so. Apparently, the Tories are considering abolishing inheritance tax as a desperate bribe to try to hold onto power at the election.It certainly would have benefited a friend of mine, who was left a large house in London by a friend. Paying the IHT was, to put it mildly, a nightmare. In the end the house was gutted to the bare walls and divided into three flats, of which they sold two.
What’s the big deal on inheritance tax, then ? Isn’t it just another variety of capital gains tax? It seems to me that this policy is yet another Tory appeal to naked self-interest and greed. Seemingly, it only applies to about 3% of the population, in any case.
Desperate, desperate stuff, though it’s feeding the radio phone-ins.
Fully explained here, Abers: https://www.gov.uk/inheritance-tax