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Re: Bad news, GC

By Meerkat12/10 18:00Thu Oct 12 18:00:46 2017In response to Re: Bad news, GC

Views: 553

The deceased isn't taxed twice. They are taxed once, and then they die.
The living are already taxed on distribution using your parameters. VAT for a start.
Taxing the beneficiaries like that would be an administrative nightmare!
Though I could see how taxing the estate at £100k per wife/kid would be fair enough.

Would need to have a think what would happen with family businesses and seriously big estates (though are they mainly in trust anyway?)
Forced sales of either would be economically disruptive....maybe deferred tax that just stopped you taking all profits on sales (but then the incentive would be very short term profits?)

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