Monday 8 June 2015

Inheritance Tax – Immoral and Unjust UK TAX

In the last five years, the UK treasury has very kindly relieved grieving UK families of an extra £1 Billion in Death duties (Inheritance Tax)
Chancellor George Osbourne keeps moving the IHT goal posts. As part of his party manifesto in 2007 he promised to increase the threshold to £1 Million.
However, since coming to power he has never increased the threshold and went one stage further by freezing the threshold when he ended the traditional annual Increase.

Britain has one of the highest death duties in the Western world and boosted the UK Treasury’s coffers by billions.
In 2009, Inheritance Tax was worth £2.4 billion a year to the UK treasury and now it is worth £3.4 billion, an increase of £1 billion, according to HM Revenue and Customs recent figures.