To think scrapping inheritance tax would not be popular with voters

[Lanadelday]

I'd say I can't believe the conservatives are considering it, but nothing surprises me any more that they do. But AIBU to think most people wouldn't back this anyway- I can't see it being a big vote winner and don't think they really get that voters are sick of all the inequality and so many people including kids and elderly, living in poverty, not wanting to make it worse.

Over privileged people will be loving it.

Scrapping it?

I'd rather it was increased! It's so unfair that people buy houses today because of what their parents achieved , not their own efforts and it helps distort the housing market

I think it would a huge vote winner among the "squeezed" middle who have always voted Conservative but now finding it difficult to justify.

It would be massively popular amongst both the parents and the adult children affected.

Personally I think it would be the wrong thing - my parents stand to pay a reasonable amount of IT and my view is if there's that much money, some of it should go back into the system, but I'm the only person among my peers who feels that way.

I don't know, I don't think people feel as strongly about the existence of inheritance tax as a lot of other stuff tbh. I think with the big rise in property prices, a lot of people who might not otherwise have had strong feelings about it feel it's punitive in some way, and I think British philosophy generally favours the idea of leaving money behind to your children and your own 'hard work' not being taken away from you after your death (not saying I agree with it). And I think for the people who aren't eligible, it's the kind of thing it's hard to see tangible benefits for for them anyway.

So say it gets scrapped or it gets increased - unless you can show an immediate change in their own financial arrangements, it probably just all seems very theoretical concerning money they will never have access to anyway.

I know lots of people who would be delighted with it. Not everyone wants to solve inequality with their own money. They’d rather look after their own children.

To the shortsighted maybe, but how many election promises have been been abandoned.

Not only should they not scrap it, but all the loopholes to avoid paying it should be closed. Along with the extraordinary efforts people go to, to avoid paying for care or to retain their means tested benefits if they receive an inheritance it is pure avarice. And whilst they're at it, disallow all the fake " close relative" housing costs benefit claims where a parent/uncle/grandparent/whatever pretends to be the real landlord of their child in order to get the state to pay off their mortgage via a rent subsidy

I really believe most people are not that selfish. It's going to just make inequality so much worse and whether or not people can get a house will depend on their parents. I think people who've 'made money' just through luck via house price rises mainly would think inheritance tax on that unearned wealth is fair.

The opposite. Inheritance tax is deeply unpopular, to the point where only a third of Labour voters consider it fair:
https://www.neweconomybrief.net/the-digest/the-future-of-inheritance-tax#:~:text=Despite%20most%20people%20not%20paying,and%20National%20Insurance%20are%20fair.

Scrapping it would be supported.

It is a popular policy, despite the fact only a very small amount of estates actually pay IHT.

You always get stuff like "taxing the dead" and "being taxed twice" rolled out, whereas in fact the value gain in a lot of estates (house price increases) has never been taxed at all.

As far as I think, I think it is a reasonable way of recovering both the massive spend on services that older people have benefited from that has been funded by borrowing and also funding elderly healthcare and triple lock pension plans.

It honestly really surprised me that people in general seen to react so negatively to it. I think it should come in at a much lower threshold and be structured so it is unavoidable.

I think the fact that people keep voting Tory shows that they are that selfish. People want to protect themselves and their own. Rich people want to stay rich. Tories gunna Tory.

The Tories are just looking after the rich (again)

You're wrong, unfortunately. The UK has long history of saying they want better public services but never, ever voting for a party which says it will increase taxes to pay for them.

It needs reforming not scrapping. IHT is only paid in 5% of deaths and most of those are concentrated in the SE/London.

I think it would be very popular. 2/3 of people own home, of which majority have no mortgage. They don't want any of that asset taxed for their heirs.

Definitely more supported than not.

So much for fighting inflation if this is the plan, though.

Purely in terms of electoral strategy it doesn't seem like a good idea. Anyone who would vote for that probably already votes Tory. And it allows Labour to portray them as the party of privilege.

@anniegun the rich tax plan so avoid paying it. It’s those in the middle that pay IHT like everything else. £400k on DH’s uncles estate despite him growing up in a council house and living like a pauper for most of his life.

If people have to go into care homes there will be no tax to pay.
How much did the King pay?

Very few of them will pay inheritance tax on their home. Look at the rules and the thresholds.

(And bear in mind that asset values are about to collapse, although the Tories may not mention that bit )

That was a huge estate, council kid or not!

Exactly!

Delusional "cakeism" did not start with Johnson. He just told the deluded what they wanted to hear and pretended it was available!

I don’t think actually make that much difference to inequality between those who really don’t have anything and those who own houses and have some money. The inheritance tax threshold is pretty high at the moment so won’t affect many households inheritance. For example, my family inherited £800k from my grandads estate and no inheritance tax was due on it. I got a decent chunk of that.

It would be popular! You go to work, pay tax on your wages. Save those wages (again, possibly taxed in so doing) to buy a house, pay stamp duty. Die, pay more tax on the house you've already paid tax on. People would definitely welcome not being taxed again after death on all the things you've already paid tax on.

But it's been talked about for so long that if it's changed, people might feel more like "well yeah, finally". Can't tell if it would be a deal breaker and for what kind of proportion.

We pay tax over and over. That inheritance tax people pay on the sale of their parent house is wrong when their parents have paid tax over and over. Stamp duty, etc etc. if I could leave my kids half a house each when im
gone why should they pay a large chunk of that to the tax man. Why shouldn’t they have access to that house to help their futures.

It's definitely a vote winner, especially in the South East where simply owning a home would tip you into paying it.