In the property section of the Epsom Guardian, May 8, there was an item entitled Not so rich will cross tax threshold, which pointed out that it is no longer the very wealthy who are being affected by this tax.
Inheritance tax (IHT) was originally intended for the uber-rich, but now people with modest estates are easy pickings, while the rich avoid IHT, keeping estates in the family. Single and divorced home owners do not have the double IHT benefit against the family home.
Those of us who have worked hard, paid our taxes, saved hard, and provided for ourselves, are sitting ducks to have the result of this labour and thriftiness stolen from our heirs, who we are providing for. This is ethically and morally wrong.
In the South East, IHT is a particular problem not having risen in line with house prices or the cost of living, so we are unfairly penalised. Our descendants suffer from a paucity of jobs and affordable housing, low incomes, and university fees. We should be able to leave them our small estates instead of being charged IHT.
The Government encourages us to do the right thing, so when we do, we should be allowed to keep our hard-won, after tax, proceeds and pass them on to our children.
In conclusion, I believe that this unfair tax should be scrapped altogether, or at least the main family home should be left out of IHT, and encourage home-owners to write to their MP.
Charles Wallingford
Ewell Park Gardens
Ewell
- Send your letters to: letters@epsomguardian.co.uk
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