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Whilst you may not have liquid assets of 300k the way the current housing situation is going a house that was valued at 100k a few years back will be going for about 250k now, add into the equation that a lot of people are taking out life policies of over 6 figures for a small outlay every month, then it's entirely possible to rack up over the odds for inheritance tax.
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Aye, but surely the point is that folk shouldn't be inheriting untaxed, unearned income of up to a million pounds? Inheritance tax is a vote winner amongst folk who, let's be honest about it, are likely to vote Tory anyway. George Osborne's smug fucking face when he announced it was enough to make me against the idea.
If I were inheriting my mum's £500k house, i'm damn sure i'd be happy to pay Inheritance tax on the excess.