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.

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

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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.

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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.

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“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.”

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

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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?”

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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.

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

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

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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.”

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

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

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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.”

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

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