Scrap Inheritance Tax (IHT) Petition

tom188

So would you prefer if we put up income tax and taxed drivers more, so could scrap IHT?
Surely that would have a much bigger effect on "Mr Average".

And you cannot compare one part of a countrys tax system with another without looking at the whole picture.

azthe

tom188 wrote:

So would you prefer if we put up income tax and taxed drivers more, so could scrap IHT?
Surely that would have a much bigger effect on "Mr Average".

And you cannot compare one part of a countrys tax system with another without looking at the whole picture.

Ideally a gradual phasing out of IHT supported by revenues from improved efficiencies in social welfare system and other state funded enterprises, taxing large industrial polluters and promoting and developing schemes along the lines of developing Carbon emissions trading.

I didn't mention Income tax, car drivers or VAT. (Taxes which should only be paid once incidentally)

As an aside I mentioned that the annual cost of the war in Iraq is 19Bn

19 Billion ( a war cost not incurred by Canada, Sweden or NZ) minus 4 Billion (IHT revenue) gives a credit of 15 Billion alone.

RayWolfe

azthe wrote:

Some responses to the issues raised:

And every one political ... nothing to do with the aims of this site!

azthe

RayWolfe wrote:

And every one political ... nothing to do with the aims of this site!

I think you will find saving tax is an aim of this site. There is even a thread called 'Cutting Tax' Look ^^

tom188

Cutting tax involves getting the best deal from the existing system and making sure you do things effectively.

Lobbying the government for changes to the tax system is not something this forum is for. Neither is making points of the misuse of government money.

azthe

tom188 wrote:

Cutting tax involves getting the best deal from the existing system and making sure you do things effectively.

Lobbying the government for changes to the tax system is not something this forum is for. Neither is making points of the misuse of government money.

Thanks Tom, points noted, I'm glad we agree

[Deleted User]

RayWolfe wrote:

it was not invented by Mr Brown and has been treated by him in just the same way as other chancellors have done.
So if this were a political forum we could usefully discuss this further, meanwhile we must just agree to disagree.

It may not have been invented by Mr. Brown, but at least his predecessors have kept it inline with house prices. This used to be a tax for the wealthy; we now have a situation where ordinary families are being hit by IHT. Pure greed by this government who had many opportunities in every budget to increase the IHT threshold.

RayWolfe

Did they? I think you will find that it was in line with inflation ... which was, more or less, the rate that houses used to rise in value.
My investments have done rather well over the past three years (better than my house price rise), do you think I could get the IHT threshold to rise because of that?

[Deleted User]

RayWolfe wrote:

Did they? I think you will find that it was in line with inflation ... which was, more or less, the rate that houses used to rise in value.
My investments have done rather well over the past three years (better than my house price rise), do you think I could get the IHT threshold to rise because of that?

No - I do not expect that. But if you have already paid tax at 40% on your investment growth, are you happy about paying a further 40% on your savings; assuming of course your investments are above the iHT threshold. And if they're not, but your property has gone up beyond the rate of inflation, are you happy about paying 40% tax simply because the greed of this government has held back the threshold. Somehow, I do not think so!!! I am not against IHT, but I am against the unfairness of it and the way it is being used to fatten up the government's pockets. And then to add insult to injury, what benefits are we seeing from this governements with all this extra tax ? But that perhaps is a different debate!!

RayWolfe

I won't pay IHT!
My beneficiaries who will be getting money they haven't earned, will.

(Incidentally, are you still asserting that other governments did it differenty?)
Governments don't fatten their pockets, they spend on good thing and often bad things (a totaly subjective assessment) and need taxes to fund that.
I assume you also know the Income Tax, when introduced, was only paid by the super rich? Things change. If you think government is spending on the wrong things vote them out.

... BUT THIS HAS NOTHING TO DO WITH A MONEY SAVING SITE!