social care

Does The Left Want To Raise Inheritance Tax by 100 Percent?

There is always, it seems, something in the news about the dreaded (in some cases for very good reason, in some cases simply because it is misunderstood) inheritance tax, and recently this has been no different. The most recent discussion – one that has been branded ‘immoral’ by many, comes from the Left, and suggests that inheritance tax rates should be doubled.

John O’Connell, chief executive of the TaxPayers’ Alliance, has called IHT ‘unfair and immoral’ in the past, and this new idea is, he says, a ‘crackpot policy’. He wants everyone to simply ignore it, but due to the outrage it has stirred up this may even be impossible now.

Left Want 100 Percent IHT Rise 300x199 Does The Left Want To Raise Inheritance Tax by 100 Percent?

The reason behind Labour’s suggestion that inheritance tax is increased so dramatically is that it would be used to fund social care, something which, everyone would have to agree, is severely underfunded. This doubling of inheritance tax would mean that almost all social care could be free at the point of access, much like the NHS. However, increasing inheritance tax, which already sits at 40 percent of anything on an estate over £325,000, seems a rather clumsy and unfair way to do it to many people.

What do you think? Should people benefit simply because a relative happened to have a house that was worth a fair amount of money? Or should that wealth be evenly distributed through the social care system to enable everyone access to the care they need when they need it?

Should someone’s will override the need of those who are living? Or should the wishes of the recently deceased always be taken into account? 

Contact us

x

Call us for a quote, instant help or impartial advice on freephone
0800 612 6105 0800 calls are free - 0333 are local rate - Just click to Call



Or complete the form below
Name
Email
Tel
Message