Few things are more divided than the “Inheritance Tax” for the readers of the Financial Times. In some cases, taxation is unfair-a punishment for hard-working parents who wish to transfer their property to their children. For other people, taxes are ineffective, because the rich avoid taxes and get unfair opportunities, giving future generations a huge advantage in life.
The Covid-19 pandemic has brought new power to this debate, and it is necessary To increase taxes Once security is restored, public finances can be strengthened. Right now, Prime Minister Rishi Sunak is playing cards near his chest and may collect any such taxes, but many experts suggest that you consider levying wealth taxes, including IHT.
Anguish of families in EIGHT-MONTH probate wait: A fifth of bereaved relatives face long delays to take control of loved ones finances, survey suggests
Bereaved families are being forced to wait months to take control of loved ones finances, with one in 20 facing delays of more than 32 weeks
The delay means some are unable to pay inheritance tax on time
Lawyers say a new online application system could increase wait times further
The backlog was created in 2018 when the Government announced a rise in probate fees and has been made worse by the pandemic