Inheritance tax

[islaydarkblue]

Yep it's grossly unfair.....and more and more working class folk are gonna be caught in this trap.

I wouldn't fall over inheritance threshold at the moment if Mrs sunshine or I pegged it but the survivor certainly would be on 2nd death......or if we check out at the same time we would.

Also I dinnae think the threshold has been increased for a long time which like not increasing the income at which you start paying income tax is all wrong.

Capital gains tax equalisation I can just about agree with if they keep ISA allowance as it is.

Reduction in tax free cash from pension another no no for me, folk have been saving for decades based on 25% tax free cash.

Council tax single person rebate another disgraceful attempt at ****ing over people who have saved.

No problem in reducing 40% tax relief on pension payments and equalising at 30%

There is another ‘stealth’ tax which few people are aware of.
Benefits in Kind.
When I started work in July 1971 anyone earning over £8,500 per annum and receiving a benefit in kind from their employer paid income tax on the amount of the benefit.
Now in 2024 the threshold for Benefits in Kind is still £8,500.
In July 1971 the bank manager might have been earning over £8,500 per annum but in 2024 workers receiving the minimum wage and working a 35 hours week are earning more that £8,500 per annum.