I have spent a chunk of this morning discussing Inheritance Tax with a few people on Twitter. There is clearly a very strong feeling amongst certain people about this tax. Phrases like "Death Duties" and "Taxing the dead" were used at various points. There was also one person who had been forced to sell their home in order to pay IHT.
Sunday, 4 October 2009
The view I have taken on IHT is that it is actually taxing the heirs rather than the dead. I have also perceived it as a means of increasing social mobility.
However I fully accept that there are problems with it. I don't think anyone should be forced to sell their home to pay it, that is just wrong. I also know that very rich people get around it in various ways. So I find myself in a position where I agree with the principle (although the exact threshold and percentage I am less definite about) but am concerned about how it works in practise.
from what I can tell, there seems to be a fairly clear position from both Tory grassroots (against in principle) and Labour grassroots (in favour in principle). I am curious to know what other people, especially Lib Dems think about this.