Submitted on Monday 11th February 2013
Published on Tuesday 12th February 2013
Current status: Closed
Closed: Wednesday 12th February 2014
Signatures: 3
Tagged with
Remove the injustice of present Inheritance Tax arrangements
Inheritance tax is biased against those of modest wealth because they cannot afford to relinquish control of assets to be protected from the tax.
Solution: make inheritance tax unavoidable. Abolish the seven year gift tax exemption rule immediately for all living persons. Instead give everybody a life-time gifting allowance. Said allowance would be affordable to the Treasury at a much higher level than the current exemption ceiling for inheritance tax.
Given the government's determination to clamp down on aggressive tax avoidance it would inconsistent to ignore inheritance tax.
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