Wednesday, May 02, 2018

Should Brits Kill Their Death Tax?

The Resolution Foundation believes the UK inheritance tax should be abolished. Potential heirs should not celebrate. The foundation wants the inheritance tax replaced with a Lifetime Receipts Tax. This levy, to be paid by the receipients of gifts, would be imposed cumulatively on gifts over £3000 at rates of 20 or 30 percent. The first £125,000 a Brit received would be exempt.

The present inheritance tax has a 40 percent rate.

No comments: