Abolish inheritance tax for everyone
There is a petition asking for an abolition of inheritance tax for farmers. I call for it to be abolished completely. When someone dies the family experiences the most stressful experience imaginable. The last thing needed is a tax bill or to be forced to sell family assets to pay it.
Signatures
21
signatures
Government response threshold (10,000) · 21/10,000
Debate threshold (100,000) · 21/100,000
- 13 DEC 2024Petition rejectedduplicate
You may wish to sign: Don't change inheritance tax relief for working farms https://petition.parliament.uk/petitions/700138
- 23 NOV 2024Petition created
Background
The OBR In 2024-25 forecasts that IHT will raise £7.5 billion representing 0.7 per cent of all receipts and is equivalent to 0.3 per cent of national income. (1) £7.5 billion is nothing compared to a government income of £1 trillion. There are better ways to fund this and I have set up petitions for this. It is high time it was abolished completely, if anything, for humanitarian reasons.
(1) https://obr.uk/forecasts-in-depth/tax-by-tax-spend-by-spend/inheritance-tax/