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posted by Stamp-Invest @ 12:15 AM
1 comments
1 Comments:
Inheritance tax is in my opinion an unfair tax as it is levied on the estate of someone who has died.
There is no measure of the wealth of the person receiving the inheritance. A pension living on the poverty line who received 10% of an estate valued at £100,000 would receive exactly the same amount of money as a millionaire who received the same 10% from the estate, surely this cannot be fair?
I run a will writing company and as such see many people who are trying to reduce the burden of inheritance tax. All they want to do is pass on to their families the money they have spent a lifetime building up, surely this can not be wrong?
It is possible to do mitigate the effects of inheritance tax, with the use of an inheritance tax will. Using other means like additional life insurance the whole value of an estate can be protected but many people do not realise this and instead see 40% of the value of their estate going straight to the Inland Revenue.
In my view IHT should be scrapped and some form of means tested taxed introduced so that the recipient of the bequest pays a proportion of tax depending on their income.
Until such time as the law is change companies like mine will do all we can to help people mitigate their final tax bill.
WWW.boon-solutions.com
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