Churchlawtonblue
Well-Known Member
- Joined
- 3 Dec 2013
- Messages
- 14,704
On assets they have already paid tax on.The 4% is the current figure. The 7% is the 'nearly doubling".
The average home price is approx £290k.
Inheritance tax, if you're passing to kids/grandkids is £500k. That's the tax free bit too. Anyone inheriting £500k+ is also now one of the top few % richest people, so can afford to pay the tax.
It's a tax that is only paid by the wealthiest.