Express readers name on Rishi Sunak to abolish ‘disgraceful’ inheritance tax

A gaggle of 55 Conservative MPs have referred to as upon Prime Minister Rishi Sunak to abolish inheritance tax (IHT). The Conservative Growth Group is because of publish a paper later this month with the hope of persuading the Treasury to scrap the levy.

A new Express.co.uk poll has proven that this view is shared by 92 p.c of readers.

HMRC collected £7.1billion from IHT receipts last year because the £325,000 threshold has been frozen since 2010, that means 1000’s extra Britons are being affected by the 40 p.c tax.

Former Chancellor Nadhim Zahawi wrote in The Telegraph that it’s “morally wrong”. He defined: “Inheritance tax is that other spectre that haunts us alongside death.

“As well as being morally wrong to take someone’s assets on their death, it also creates all sorts of inefficient and damaging distortions in our personal finances and the wider economy.”

READ MORE: Sunak facing revolt from more than 50 of his own MPs over hated inheritance tax

In a ballot that ran from 11.30am on Thursday, June 1, to noon on Friday, June 2, Express.co.uk asked readers: “Should Rishi Sunak scrap ‘morally wrong’ inheritance tax?”

A complete of two,249 votes have been solid with a whopping 92 p.c (2,070 folks) answering “yes” in comparison with simply eight p.c (171 folks) who stated “no”. An additional eight folks stated they didn’t know.

Dozens of feedback have been left under the accompanying article as readers shared their thoughts on IHT.

Many readers commented that IHT ought to be scrapped, with username Seorsa questioning: “How can double taxation be fair?”

Username DoggyDay agreed writing: “It’s disgraceful that you are taxed on assets you bought with taxed money already! Sick to death of layer upon layer of taxes in this country.”

Username PhilCo58 stated: “Yes, abolish it, people have already paid taxes on their property throughout their tenure of ownership, double taxation is immoral.”

However, some readers have been cautious in regards to the implications this may trigger. Username ajay202 commented: “Where would the tax shortfall come from?”

While username Oldreo recommended: “Like tax thresholds, the limits should move with either inflation or possibly house price inflation as the main asset for most people.”

And username Joolsaria added: “It doesn’t even affect the vast majority!”