Oh Dear: '1.5m more' face inheritance tax

[Lucifer Box]

Rising house prices are to leave 1.5 million more people liable to pay inheritance tax, research suggests.

It means the number of people paying the tax would soar by 70% from around 2m in 2002 to 3.5m in 2009.

Financial advisors Grant Thornton and economists Lombard Street Research say the inheritance tax threshold had not kept pace with Britons' growing wealth.

The current threshold for the tax is £275,000, although this will rise to £300,000 in 2007.

The report suggests that instead of a single flat rate, there could be several bands with different tax rates.

Full Article: '1.5m more' face inheritance tax

Still, it's only fair, eh? After all, the money has already been taxed (at least) once so another time does no harm. Just think how many teachers and nurses all that extra money wisely invested in public services will provide. Plus, of course, the excellent comical suggestion that the answer is to make the system more complicated.

[wendigo100]

Still, it's only fair, eh? After all, the money has already been taxed (at least) once so another time does no harm. Just think how many teachers and nurses all that extra money wisely invested in public services will provide. Plus, of course, the excellent comical suggestion that the answer is to make the system more complicated.

I can't believe how ignorant I was about taxation until IR35 came along. The one good think about it was that it that really opened my eyes.

[threaded]

That, IR35, was also a good thing for me in an eye opening way. I realised that for someone like me Denmark actually has a much lower taxation rate than the UK. After the lie of lower taxes in the UK was exploded in my mind lots of others fell as well.

[stackpole]

That, IR35, was also a good thing for me in an eye opening way.

Me too, but most voters out there remain ignorant and continue electing the people responsible.

It made me determined to pay no more tax than I have to by law, and sod the rest. They want to pay higher taxes? Let them.

As long as it isn't my money being spent on mass immigration, Iraq, and all the other Labour waste.

[Lucifer Box]

I think it should almost be a requirement that all citizens spend a year running a Ltd company. That way at least they wouldn't be ignorant of how much tax they really pay.

[threaded]

I often think that many car drivers should spend a few weeks driving a motorbike or bicycle.

Mainly because so many of them would be topped it'd reduce congestion on the roads.

[stackpole]

I think every man should have a picture of Cherie Blair on his desk.

It would make him appreciate his wife.

[Sysman]

I think every man should have a picture of Cherie Blair on his desk.

It would make him appreciate his wife.

It might solve the pension underfunding problem too.

Cue sounds of folks screaming as they plummet from high rise offices...