Cultured Views

In my opinion one of the most unnecessary and repugnant taxes ever devised is inhertiance tax. Death duties. And it is a tax that is still applied to the population in the UK. Unfairly, this tax affects ordinary people who have worked and saved all their lives so that they can leave a legacy to their children – their home.

The British Govt does not see this as unfair though and everyday helps itself to a share of someones estate. In what way is it justified to say to a family…’OK, both your parents have now died so, before you sell their home, we will take our slice of their hardearned money thankyou very much’. It is a tax that clearly demonstrates a Labour Govt philosophy that no-one should inherit anything.

So many people have homes that were purchased decades ago for hundreds of pounds. Today of course those homes are worth hundreds of thousands, in some cases over the million pound mark, due to incresing property values. Because of the boom in property over the last ten -twenty years, these people are deemed ‘wealthy’ and so their home/asset falls into the category for inheritance tax. Many of these people may never have had much in the way of cash in the bank but through no fault of their own the value of their home makes it available for the Govt to help themselves to a huge portion of it on their death.

Fortunately people are becoming more informed these days about ways of avoiding this heinous tax, but it is one that should be abolished altogether just as it has been abolished in countries like Australia. Your home is just that and the Govt should keep it’s greedy hands to itself.

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