Abolish Inheritance tax in the United Kingdom
Abolish inheritance tax in the United Kingdom for everybody
Signatures
21
signatures
Government response threshold (10,000) · 21/10,000
Debate threshold (100,000) · 21/100,000
- 27 MAR 2025Petition rejectedduplicate
You may wish to sign the following petition, which calls for similar action: Abolish inheritance tax https://petition.parliament.uk/petitions/703787
- 14 FEB 2025Petition created
Background
1. Double or Triple Taxation of the Same Income:
Inheritance tax represents an additional layer of taxation on wealth that has already been subjected to income tax, capital gains tax.
2. Disincentive to Work Hard and Save:
The imposition of inheritance tax disincentivizes individuals from working hard and saving for their future, knowing that a significant portion of their wealth will be taxed upon their death.
3. Stress on Survivors:
Bereaved families are often forced to navigate complex and stressful tax affairs during a time of grief.
4. Erosion of Innovation and Economic Growth:
The inheritance tax reduces the incentive for individuals to invest in businesses and innovative ventures.