The Tories have announced they’re going to raise the threshold for inheritance tax to (effectively) £1 million. The public discussion on this has been moronic. Obviously all tax is annoying. Here are my top 6 reasons why inheritance tax is equitable, moral, and sensible.
I thought points 2 & 3 were particularly good:
2. Growth in house value is generously excluded from capital gains because you need to live in it. When you’re dead, that excuse is gone.
3. Housing wealth derives from the value of the land, which rises because of the actions of everyone in the country, not you.