Inheritance tax ...

[blup]

Not sure I agree with you. There is a huge amount of people that don't have £1000 to their name so how many do you think have over £325K in cash and investments? Not many for sure.

Just look at house prices in the south east and other hot spots,. Plenty of property well over £325k, and in many cases over a million. People who worked hard to own their home should be able to pass it on to their kids.

And remember only about 5% of estates pay any IHT.

People are getting wealthier, that number will shoot up. Income tax is a fairer way of sharing the burden

When death duties were a "thing" countless country homes fell in to ruin until they got passed to the National Trust - some get sold on and typically to foreign investors who rarely live here.

A lot more could have been done to save those homes for the nation. But post war income tax was in the 90 per cent plus range, basic rate the 30 per cent plus. That funded public infrastructure like hospitals and social housing. Low tax means low investment.

In the case of the Royals - they can't sell anything and if you look at the Ducky of Cornwall - its sole purpose is to provide for the Heir to the throne AND also it employs a vast number of people and they pay tax and NI etc etc

I'm not knocking the royals, King C pays voluntary income tax.

 

[blup]

You are being disingenuous. Most Joe Bloggs are families with a home and benefit from the £1 million allowance.

I don't oppose the principal of redistribution of wealth through tax, although historically many tax hikes and new forms of tax have been to fund wars. But a single home family should be able to pass that on to their kids

 

[noseall]

People who worked hard to own their home

...are now sitting on a goldmine.