Inheritance tax is only paid by five per cent of estates - abolishing it would be just another Tory attempt to protect privilege, writes FisherAndrew79
There is too a rather spurious argument that inheritance tax is unfair because it is “double taxation”. The argument put forward by opponents of the tax say thatThis misses, or rather deliberately obscures, the point that inheritance is the act of an asset being transferred, and it is the recipient who pays the tax. The inheritor is receiving unearned wealth and income, and therefore pays tax on it.
The “double taxation” point, if followed through logically, would also mean the abolition of VAT, alcohol and tobacco duty, council tax and virtually every other tax that we pay with our money post-income tax.
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