To think it’s unfair that some people get inheritance while others start with nothing?

Would you also ban living parents giving their children money or buying them things?

You don't work hard to build up a stash to leave to family. You work hard to get an income allowing you to have a good life - holidays, pets, experiences etc. I'm not planning on dying with money in the bank. I'm hoping to enjoy any money before I go. You can't take it with you.

And that's the beauty of freedom and choice isn't it? If someone doesn't WANT to spend their money that they earned on holidays, pets and experiences (all of which by the way, are nice little generators of short term taxation income), but would rather the money was used to pass on to their children, isn't that their choice? At the moment at least, the government doesn't have an unlimited right to tell us what we must do with the money we earn.

I don't have children to pass any wealth onto. I have nephews and nieces, but they will be well provided for by their own much wealthier parents. I might spend it all on me, I might leave it to a cat's home. I might fund a scholarship with it, or donate it to the RNLI. I'll choose.

You've misunderstood the final point - it's not being suggested to helpers the burden for your children. OP doesn't care about that. OP wants you to subsidise hers.

YABVU. People should be able to do what they like with their own money.

Good Lord. "ThisCandidCritic"...you are really not as deep thinking as you think you are.

Inheritance doesn't hard bake equality. My ancestors were mostly poor peasants and mill workers. The current generation in my family is better off partly through inheritance. Being better off means we pay more tax! None of us are rich but most of us are comfortable enough. This happens with the older generation gives the younger a financial " leg-up".

I’d rather have my dad back!

I agree that a life with some money is better than not.

But I too find that behind every inheritance is a dead person also gets forgotten. I get this a lot from my BILs who seem to forget that my parents are both dead while theirs have lived much longer, decades longer than my dad did.

None of us are poor even without any inheritance. But I would give anything to have my mum still alive.

The point is if you stop people passing on their wealth to their children then they will stop saving and they won’t have money to pay for their care either. And where do you draw the line at stopping people giving their children an advantage? Tell them not to go on holiday? Help them with housing? Read to their children? Babysit their grandchildren?

As someone who's parents had nothing to leave (well other than a small amount of savings split between 4 kids) I think you are being very unreasonable.
If someone works hard all their life why should it go to anyone other than family?

Or they spent on rent and health issues, or they recklessly spent it on themselves...? Do you really think everyone without an inheritance enjoyed expensive holidays? How is this either my or Sophie's fault? Is one of us more deserving of the sweets or do we admit that doe Sophie/me is is just chance as to who we wee born to?

Is may feel unfair. But the parents who are handing over inheritance have likely prioritised saving it for their children.

Where would you stop? Why not distribute everything now, tbh then we could all consider finishing work sooner. I am working so I can set my kids up. If this were to be taken off me then I would stop working today. I have what I need.

It is taxed at 40% over a certain threshold. £1 million tax free if you’re a couple though which I think is insane.

I think we should do as the Australians do and charge CGT on all assets transferred on death.

So children should be handed over to the state to be brought up in communes because otherwise some will have an advantage? I presume parents should also be paid the same regardless of their work as otherwise some may have privilege over others? North Korea may be able to offer us some pointers.

I've never have and will never inherit any money.
But...
Yes you're right. Let's keep squeezing those that have some kind of financial stability or means to help their DC out in life until they're bled dry.

OR..
Everyone that owns something worth selling should sell it now and live off the rewards, travel the world, eat out everynight, fulfill their dreams, whatever they may be.

Then once it's all spent they can then rock up again with nothing in their pockets but holes and hope that there's enough room for them to join an ever growing line for all that Britain offers and hope there's enough to go round.

abolish inheritances altogether?

If on the other hand I do happen to die and have a few bob left in my bank account where or who would you suggest it goes to?

I think income should be taxed at source and then what you do with that money is up to you afterwards. If I want to pass that on to my children, I should be able to without the Government swipping it for doing fuck all.

Including housing that is potentially hundreds of thousands of pounds of gain that hasn’t been taxed?

If you worked, earned a lot of money and saved, started a business, whatever the case may be. It was your skills, talent and hard work that got you there. But you also paid tax.

With housing you worked hard to get the money for the deposit and to pay the mortgage. There was no skill whatsoever in the fact that house prices have rocketed over the last 50 years. That was dumb luck and thst gain should be taxed in my opinion.

You are BVVU.

Although, I am envious that my friend has just bought outright a 1.4 Million home with her inheritance. It is gorgeous.

I inherited a little from my parents, as did dh from his. He and his sibling made some idiotic decisions before the money ever even got to their accts so they ended with literally pennies (following his bf's advice - he'd ended up with nothing when he inherited); my bros and I had made different decisions so I got enough to buy and brand new beautiful tange cooker.

Just for clarity, my parents died sveral years before either of their's.

How are you defining "inheritance", OP? Is it just liquid money, investments and real estate, or everything? Should the state deprive you of your mother's wedding rings, for example, because my mum didn't have any?

Notice I never mentioned that but only brought up some question I thought your analogy raised. I can admit something is not fair while understanding why you want to keep your advantages. I also think there are many things that are unfair in life. And actually no I do not think that... nor did I even imply that. How we address unfairness and if we even want to is another issue.

This is fantasy economics.

There would be an exodus of wealthy from the UK as older people leave with their savings and enjoy warmer climates elsewhere with lower costs in order to avoid paying 100% inheritance tax.

Everyone would be marginally poorer. There would be less tax paid in the UK as those investments would now pay tax overseas for the duration of that persons life and possibly in perpetuity afterwards.

You would see many entrepreneurs leave the UK particularly when their businesses grow enough to let them do so.

Basically this ridiculous idea just makes the UK poorer.

That's a ridiculous notion.
When someone dies, what should happen to their things? Should their children be entitled to their books and furniture?
What about their £2k tv or their car?
The money in their bank accounts? Their house that they actually own?
Or should all of these go straight to the government?

You don’t seem to realise that most wealthy people make transfers to their children throughout their lives - it’s not all just handed over as an inheritance when they die.

We’ve just given £200k to our older daughter to help her buy her first home. Would you ban that too?

What about people with disabled children OP, should they not be allowed to leave anything for them either?