IT'S beyond disappointing that inheritance tax was not addressed in Rishi Sunak’s Budget.
For too long the government has baulked at addressing the tax, which is the most excessive and widely unpopular regime we have in this country.
The tax’s overly complicated system presents an issue in itself, but being set at a sizeable 40% for all rate, raises further concerns.
The inheritance an individual wants to leave for their family – the reason why many people work so hard during employment years – is currently taxed more heavily than any other asset.
With the persistence of inheritance tax, probate fees potentially up for review again, and no changes to care funding in the pipeline, the privilege of getting old remains more expensive than ever.
There is no doubt about the fact that we are continuing to do our older generation a disservice.
Michael Culver
Chair of the Board at Solicitors for the Elderly
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