Is it time to get rid of IHT and
transfer the tax burden to recipients, ask Julian Washington and Louise
Somerset
‘Abolish Inheritance Tax’ – this was the
radical proposal from the Institute for Public Policy Research (IPPR)
in its December 2010 report: Death and Taxes. The IPPR carried out
a review of one of the UK’s most unpopular taxes and recommended
that inheritance tax (IHT) be swept away and replaced with a receipts-based
charge. It is proposed that a new capital receipts tax be levied on
those who receive inheritances rather than charging the estates of
taxpayers when they die.
The
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