Quote Originally Posted by baggieal View Post
So is it wrong then I have saved a couple of hundreds of pounds a month for years to provide my daughter with a deposit for her first property? I have scrimped and saved and it?s been really hard going in my case. If others want to blow any spare cash then that?s up to them too.

Working seriously hard? You could say shop workers on the minimum wage work harder than most but they are not paid for their specialist skills - lawyer - banker - surgeon etc.

Never been jealous of anyone and have friends who live in 3 million pound houses and council houses. I judge a person by their genuineness.
Lets turn the question around. James Dyson has an estimated net worth of ?13 billion. He has bought 35,000 acres of farmland all around the UK with a value now thought to be worth around ?500m. Almost certainly to avoid paying any inheritance tax. This is the type of person the Government are targeting.

He claims he is trying to provide a more smarter, renewable type of farming. And he has invested heavily into doing this, investment that may have not been made if the tax was applied.

Is this smart from his perspective because he has invested heavily, in part to avoid this extra taxation? Or should people like Dyson be expected to pay the new inheritance tax on this vast wealth?

The farmers who have land worth ?2-3m are not affected. The ones who are effectively multi-millionaires through their farming property assets are. And I find it hard to believe someone sitting on ?5m+ worth of assets are working day and night for ?30-40k per year. I have read somewhere this will affect around 400-500 estates per year, which is a very small amount and they are still paying less inheritance tax than everyone else who has assets not involved in farming.

Seems to me to be a fair tax policy.