BOMAD-tastic. Wow! I'll abolish a tax that raises £6bn a year when this govt has gone from taking 5bn to 15bn in SDLT, £70bn more in each of income and NI, and doubled the take in VAT to £150bn in its tenure. fook off Tories. You refused to borrow at 1% and instead put all the burden on the middle class to get us through a global financial crisis. Nobody with a brain pays inheritance tax. They should have an expenditure tax in this country, as well as hypothecated health and pension taxes, and force any politician that wants money to raise the headline rate. 0 Vote up! I don't need a complete abolition but at least raise the allowance to a standard matching inflation. 0 Vote up! actually lots of people with a brain pay inheritance tax. or their estate does 1 Vote up! Levelling up... 0 Vote up! She didnt say she would abolish iht she said she’d look at it. And ofc nothing has yet changed since the tax review on it under May. It needs simplification, perhaps reduce it and do away with the loopholes. 0 Vote up! ‘Levelling up...‘ indeed 0 Vote up! Don't be facetious diceman. This isn't a policy aimed at the Duke of Westminster. 3.6% of deaths were liable to IHT, or under 25,000 and plenty of those would have been greedy or caught out by illness. 56% of the population, 31m, pay income tax. Also note that £4bn was dodged through Tories taking primary residences out of IHT up to £1m on top of no CGT. So rich boomers got to pay no CGT, no money towards elderly care and finally got to transfer the asset tax free to their kids - level up to the max as Buzz says! 0 Vote up! "She didnt say she would abolish iht she said she’d look at it." I've no idea what "looking at it" means, but one radical option (which the Telegraph analysed today) is total abolition. 0 Vote up! Personally, I'd scrap all the exemptions, but maybe raise the NRB a little - in line with inflation, say. 0 Vote up! She has said she will look at loads of stuff, she is clueless 0 Vote up! I'd rather have inflation applied to all the various thresholds rather than a pissy 1p drop in the headline rate or whatever. 0 Vote up! she’s fantastically johnsonian mark ii “i’m going 2 sack loads of civil servants!!” “i’m going 2 review all taxes!” without civil servants, who’s going 2 do the review? “some1! maybe me! and it’s going 2 b amazing! the bestest review” **review conducted at enormous expense 2 the public purse by outsourcing 2 a company set up l7er this year by a tozza grandee** 0 Vote up! The Irish system is fairer. 0 Vote up! What's the deal there, Octopus? 0 Vote up! Oracle m3 you forgot ***No actual changes implemented *** 0 Vote up! in the US the federal estate tax threshold is @ US$ 12 million, but is actually coming down over the next few years to closer to $5 million 0 Vote up! The OP, as ever, fails to understand the English language. She is “considering it (for the purposes of an election)” and that consideration will conclude no change is required after that election. 0 Vote up! https://www.moneyguideireland.com/inheritance-tax-in-ireland.html The beneficiary pays the tax so if you share the wealth they pay less CAT! 0 Vote up! I think you mean that in Ireland the thresholds apply to the beneficiaries rather than the value of the estate. If example 3 in your linked article were in England and the house represented the full value of the estate, there’s be no inheritance tax, so it’s swings and roundabouts about fairness! 0 Vote up! Right, Dux, so the Telegraph is considering abolishing IHT. Not Liz Truss. 0 Vote up! can we not let facts get in the way of laughing at al-trusseda and the tozzaban? 0 Vote up! No, she said she is "considering all options" whatever that means. 0 Vote up! Of course she is. 0 Vote up! Refresh Back to board Join the discussion Login Register 0 Vote up!