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Abolish inheritance tax and create a windfall tax

Submitted on Monday 9th January 2012

Published on Monday 9th January 2012

Current status: Closed

Closed: Wednesday 9th January 2013

Signatures: 3

Tagged with

Individuals ~ Tax

Petition Action

Abolish inheritance tax and create a windfall tax

Additional Information

Inheritance tax (IHT) is a badly targetted form of taxation which creates many unfair and regressive situations and wealth distortions. The Mirrlees report (2011) suggests replacing IHT with a windfall tax on individuals. This would increase the fairness of taxing unearned income, increase the flow of wealth through capital distribution and would enhance progressive taxation. As noted in Mirrlees this change would be viable with cross party support.


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