Property News · December 30, 2017

We need more inheritance tax, not less | Patrick Collinson


Few things are liable to cause more anger than proposing a hike in IHT. Yet that’s just what the country needsThere is nothing more natural, we’re told, than a parent’s desire to leave money to their kids to ensure their security. And there’s nothing that provokes more fury among the middle classes than the prospect of an average home, particularly in the south of England, being grabbed off them at death by the evil taxman. Except that it’s a complete load of codswallop.A report on Saturday from the Resolution Foundation lifts the lid on what’s really happening with inheritances. Firstly, let’s call a halt to the nonsense that the money goes to kids, or to young adults needing a hand up the property ladder. The average age at which someone receives an inheritance is 61. These people are certainly not “kids” – indeed, many of the recipients of unearned inheritances (largely created by property inflation, not personal endeavour) will be grandparents themselves. Continue reading…

Source : theguardian.com
Read more…We need more inheritance tax, not less | Patrick Collinson

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