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Thousands of UK farmers protest against inheritance tax hike
(www.euronews.com)
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this post was submitted on 20 Nov 2024
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Inheritance tax is entirly escapable by doing dodgy shell company trust arrangements across different countries. It is a tax only paid by the lower and low middle class that prevents people to build intergenerational wealths and keeps the lower classes down. The farmers shouldnt be exempt but that doesnt mean they dont have a damn fine point.
Tax only applies to farms worth more than £1 million, so "lower and low middle class" are exempt.
It's 3m of you are married and use all the allowances. Even then it's only on the amount over that and at half the usual rate, then you get ten years to pay it back.
Inheritance tax should be amended to be also paid on trusts (and stocks and shares) then. Just because it's currently implemented badly doesn't mean it's a flawed concept.
It can't be done without the entire world banking system being complicit. Plus why should my wealth be taken away just cos i died.
... cause you died and thus aren't using it anymore.
Thats a very selfish view to take not the sort of opinion id like my parents to have.