Petition Modify the Current Inheritance Tax legislation - Remove Property

Inheritance Tax, or 'death tax' is an unwanted imposition upon the bereaved.

We agree that Inheritance tax is a valuable source of income for the state, hence the lack of a call for its abolition.

However we want the removal of property -the primary residence, discounting furnishings- from Inheritance Tax.

For people, a house is their single largest investment, paid for with taxed income, taxed via stamp duty, and council tax.

Why should beneficiaries of a will be forced to pay extortionate sums of money on the most expensive item many people will ever own?

For many the money raised from the sale of the house would be very useful. Rather than paying 40% of its value to the state, a cost which can prove to be very expensive, the money could be used in ways seen fit by the beneficiary.

Inheritance Tax is:
- unfair imposition upon the bereaved
- extortionate tax on property bought with taxed income
- a removal of taxed income from the hands of citizens