TaxPersonal TaxFierce opposition to IHT revealed

Fierce opposition to IHT revealed

Readers rail at inheritance tax, which Redwood group proposed dropping, in online poll

John Redwood

Former cabinet minister John Redwood

The profession has voiced its strong distaste for inheritance tax, with well
over half of the respondents to an Accountancy Age online poll arguing
that IHT hits earnings that have already been taxed.

The poll attracted 376 responses and 53% of those polled said that the money
hit by IHT had been taxed already, with a further 77 respondents saying that
only the very rich should have to pay some sort of IHT.

Of those polled 50 voiced their support for IHT, saying that it was time to
tackle unequal opportunities. The other 46 respondents said it was hard enough
to buy a house already.

The poll follows calls from former cabinet minister John Redwood to scrap IHT
altogether. Redwood made the call as the head of a Tory think tank tasked with
looking into the way tax and IHT was currently run.

Further information:

Tory think tank urges IHT abolition

Accountancy
Age correspondents discuss the poll results

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