07 June 2023 , 13:06
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Inheritance tax should be scrapped as it's 'unfair' - with one Mirror reader blasting it as a 'disgusting way' for the government to earn revenue.
You were responding to our poll asking if the controversial levy should be abolished - despite more than 93 per cent of estates not having to pay it and it raising more than £7billion a year to help fund public services such as the NHS and schools.
A hefty 855 readers wanted it axed, while 410 people wanted it to remain in some form or another.
We asked for your opinions after revealing shamed Tory millionaire Nadhim Zahawi, who was sacked as Conservative Party chairman over his own tax dealings, has been backed by more than 50 rebels calling for inheritance tax to be abolished.
He says he's 'haunted' at the prospect of paying tax on his fortune when he dies.
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Inheritance tax is a 40 per cent charge on property above Government-set thresholds.
Mega-rich former cabinet member Jacob Rees-Mogg and ex-Home Secretary Priti Patel are among the right-wingers demanding its abolition.
Members of the Conservative Growth Group - allies of 49-day Prime Minister Liz Truss - are set to publish a paper trying to convince the Treasury to scrap it.
They want to see Chancellor Jeremy Hunt abolish it in his Autumn Statement later this year - but the Treasury says only a small proportion of people pay it - just 7 per cent of estates, in fact.
Our story attracted a wealth of comments - here's just a taster of what you had to say:
'Abolish inheritance tax'
JmanK: "Yes get rid of it, only after Zahawi has paid his taxes."
Monar: "It should be scrapped. Disgusting way to earn revenue from people after it already has been taxed on earnings."
White Dove: "There are not only Conservative millionaires, but also Socialist millionaires, and good luck to all of them. They should be entitled to leave their money to their children and grandchildren. A 40 per cent tax is much much too high."
Ding: "Get rid. You pay tax when you earn the money, pay tax when you spend the money on say a property then currently whoever you leave that property to - if it's over a certain threshold - then they pay tax on what they have inherited."
Basaria: "Many seem to think only the rich end up paying this tax, and that is simply not the case.
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"If you were lucky enough to buy and own your own home, as millions of us do, and the price of your home has risen dramatically over the last twenty years or so, your home will probably attract the tax.
"Any home over £325,000 + other assets may attract it. Many, like me, worked their backsides off and went without holidays and new cars, to be able to buy.
"My adult children can't afford to buy, and their only hope of buying is when I pop my clogs, and it's totally unfair for them to have to pay any of my assets as tax to the Government. Don't forget, the rises in house prices is directly the fault of ALL of our Governments, due to population growth, and lack of new builds for decades."
'Don't abolish inheritance tax'
BlueApe: "Inheritance is in theory a fair and progressive tax. However it needs to be reformed so that it falls more on those with the ability to pay it.
"The wealthiest people manage to pass on untaxed or barely taxed fortunes to their often idle offspring. They hire clever and immoral accountants who aid them in cheating the country.
"The Tories, of course, care first and foremost about the wealthy, which usually means themselves.
"All pretence that they care about the nation or are in any way patriotic has been blown away once more by the obvious greed of the likes of Zahawi."
Derailed: "Having inheritance tax is the only way of almost guaranteeing that the wealthy pay tax into the coffers of HMRC. As for most of their lives it is squirrelled away in offshore accounts where they avoid paying tax altogether."
Officerdribble: "No don't scrap it, these millionaires have more money than sense."
Incywincey: "I don't think it should be scrapped but I do think the threshold should be substantially increased."
Chelskiboy1: "Simple answer is don't abolish inheritance tax. It's time the top billionaires were made to pay their avoided dues when they were alive. They should pay half of their amassed wealth when they have passed away, it's of no use to them and they can't put it in their coffin and take it with them - although some will try to be the richest in the cemetery."
ChewbaccaMinor: "Don't scrap it but do increase the threshold in line with inflation every year!"
Lozenge: "Scrapping inheritance tax might be a priority for some but ordinary families have much more to worry about. I do think the threshold should now be raised."
Brisie: "Won't ever concern me so tax the rich."
What do YOU think? Do you agree with fellow Mirror readers? Let us know in the comments below