In this world nothing can be said to be certain, except death and taxes. Inheritance tax of course combines the two. But is it time to scrap inheritance tax, replacing it with something fairer to families and harder for the wealthiest in society to avoid? A new report from Resolution Foundation’s Intergenerational Commission believes the tax should be scrapped and replaced with a new form of inheritance tax, designed to be fairer and better enforced. Their latest report, Passing on, has highlighted the growing importance of inheritances in shaping Britain over the coming decades.
Is it time to scrap inheritance tax?
This 798 word blog post considers proposals from the Resolution Foundation to reform inheritance tax, replacing it with a new Lifetime Receipts Tax they claim would be fairer for families and harder for wealthy individuals to avoid.