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Progressive IHT, and abolish the IHT threshold. Abolish IHT loopholes, like farmland, woodland, trusts, royalty, being an aristo etc...

I believe the Duke of Westminster was given as an example earlier. Sure as fuckery, DoW Jr won't need to stump up 40% of the value of the estate when they inherit.

How about CGT and investments stuck in with income tax (and best of all, cutting out all the IHT loopholes).

It would increase the number of people stuck in their first home (flat), no?

The rungs of the UK property ladder are already too far apart for the average resident to move up (kids, etc).

Huge penalties on second homes would get my vote. Clamp down on property purchase vehicles wherever possible (kids, offshore, etc).

I agree sorting IHT would be the dream but the loopholes are really difficult to fix, because mostly they aren’t so much loopholes as changing the structure of how wealth is held - e.g. actually meaning that people don’t legally own assets on death.

I guess this depends on your perspective - making housing less affordable might mean prices are lower - i.e. it might be exactly the same as prices move to meet demand

Pass it on while you're alive, or it goes to the state. Simple!

Including on primary residence. Double on second, triple on third etc...

Taxation on global earnings.

Sure, so you pass it on by forming a trust when you're in your 40s.

And.... That means no IHT when you die as it's not yours anymore.

It would increase the number of people stuck in their first home (flat), no?

It'd also give a big negative push on property prices I think, so I'm not sure.

Huge penalties on second homes would get my vote. Clamp down on property purchase vehicles wherever possible (kids, offshore, etc).

How about banning mortgages for second homes? I.e you can only buy a second home for cash.

Tax on trust transfers.

Sure, so you pass it on by forming a trust when you're in your 40s.

And.... That means no IHT when you die as it's not yours anymore.

In theory you have to demonstrate that you are paying market rent if your primary residence is owned in trust by family, but in practice there are loads of ways to wiggle around this.

This is kind of my point - the reason IHT hasn't been fixed is because it's quite difficult. It's easy to imagine the case of someone dying and stuff transfers then. It's much harder if assets are transferred before, or never vest in the person dying, etc.

I just think flippant comments like "fix IHT" are the left wing equivalent of saying everything will be better if we "cut red tape". Oversimplification which avoids the real question of how

But not all trusts are for IHT purposes. Should they all be taxed anyway? Why?

Why not?

the real question of how

It's a minefield, for sure, and one which people with lots of money can pay a lot of money to navigate.

Oversimplification is very easy.

I think a tax on property price appreciation would be a good idea. if the value of your house goes up by more than the inflation rate you get your legs chopped off or something.

https://www.gov.uk/government/publications/investigation-into-alleged-gatherings-on-government-premises-during-covid-restrictions-update

Sue Gray...

And they're off...

Ah, beaten to it.

Well there’s fuck all in that report then. Conclusions are as non committal as possible.

5 1/2 pages of bullet point text + 2 annexes

No sharpie marker

Big pot of whitewash

Is that it?

He's a very naughty boy!

So we'll get another non-apology followed by 'time to draw a line under it and focus on leveling up / Ukraine / Brexitaversary'