Chatter about IHT changes/abolishment

Malthusian

Qyburn said:

It's 4% of estates (actually the figure I saw was 3.73%), 27,000 a year. Saying 4% of taxpayers makes it sound like people pay every year, not just once if at all. I don't know if the estates of minors would be counted, or even if minors have estates at all.

Minors do have estates. As minors cannot make Wills they pass by intestacy law.
Fewer than 1% of deaths in the UK are minors. I imagine they are counted in the "4% of estates pay IHT" figure, but it's insignificant. 

Albermarle

Plus I presume some of the 4% only pay a small amount of IHT.

talexuser

No mention of IHT, I think the Telegraph campaign was eventually seen as an open goal for the opposition.

Hoenir

A rumour that started on social media and ultimately died on social media. A totally unproductive use of time. Such is the way of the world these days hardly surprising. Best to stick to facts rather than speculation.  

coastline

Hoenir said:

A rumour that started on social media and ultimately died on social media. A totally unproductive use of time. Such is the way of the world these days hardly surprising. Best to stick to facts rather than speculation.  

Where is the evidence to suggest IHT changes were started on social media.? There's been a campaign for a while and at least one well known newspaper carried the story weekly. I believe there were over 70 MP's in favour of changes and millions of people especially in the SE of England. It mightn't have been a priority but the allowance has been frozen for 16 years. If it were anything else there'd be an uproar. Still time I suppose in the spring budget and a little bit on the personal tax allowance in addition.
Social media has it's problems and so do the newspapers so you've got to decide for yourself. The likes of twitter are used by the BOE and FED and have become a valuable source of information with links to the main websites. Then you have investment banks and other financial houses constantly updating on the markets and the macro situation. I doubt you'll find such detail in any newspaper ? It's been an eye opener to me in recent years and vastly improved my knowledge. A vote for social media here .

Albermarle

Where is the evidence to suggest IHT changes were started on social media.? There's been a campaign for a while and at least one well known newspaper carried the story weekly. I

In fact three newspapers had a bee in their bonnet about it . Daily Telegraph, Mail and Express.

Bostonerimus1

talexuser said:

No mention of IHT, I think the Telegraph campaign was eventually seen as an open goal for the opposition.

I think any reduction in IHT would have given yet another way for Labour to attack the Tories. Personally, I think lowering IHT or increasing the thresholds dramatically would just increase inequity which I see as a major problem in the UK and a cause for the UK's long term economic woes. There's an argument for adjustments in inheritance tax as home values or average estate values increase, but I'd like to see the wage tax burden decreased and wealth tax burdens increased and loop holes for corporations like Google closed.