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October 3, 2007 3:00 am
From Mr Peter Cave.
Sir, Would someone remind me, please, why it is so unjust to apply inheritance tax to a £1m estate, which currently still leaves the lucky inheritors with £720,000?
Let us bear in mind that in many cases a large proportion of that £1m is not the result of thrift and hard work, but the lucky result of property value increases.
Let us also bear in mind that, in many cases, the inheritors will already be homeowners in well-paid employment. Who is more deserving of the extra £280,000? The lucky inheritors, already with the £720,000? Or low-paid workers, with no hope of inheritances, who could do with a reduction in basic income tax liability?
London W1F 0ES
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