UK Budget- The Axe Falls

[Beskar]

In a sense, inheritance tax is some form of wealth tax, which strikes when your wealth is to be passed on.

Personally, I think that wealth taxes are terribly unfair compared to taxes on income, since they could result in people paying to the government more than they earn. People who live in an area in which house prices have risen dramatically would be taxed on their wealth, which they may not be able to afford resulting in them having to sell up. In comparison to income taxes this seems horribly unfair to me.

Not really, as inheritance tax only affects the top 5% or so of the country.



edit: Also good news PVC, that friend has now got a job (after 8 months or so) on the employment scheme which will no longer exist because of the new budget.