Inheritance Tax – Is everything we know about “Britain’s most hated tax” wrong?

Read any paper to the right of The Guardian and you’ll see furious condemnation of “tax raids” on “grieving families”, and a Labour plot to destroy the Middle Class and farmers via the “hated” inheritance tax “trap”. Yet IHT makes up only 0.7% of Government revenue and fewer than 5% of people leave enough to be subject to it. Why is Britain neurotic about a tax that so few pay? And with huge inheritances and the Bank of Mum and Dad creating a two-tier society of those with family wealth and those without, should we want to increase IHT not cut it?  Senior fund manager Dan Kemp looked after $350bn in assets at the finance giant Morningstar, and now runs a new company, Portfolio Thinking. He tells Andrew Harrison why even he thinks simply cutting inheritance tax is a bad idea.  www.patreon.com/bunkercast  Written and presented by Andrew Harrison. Producer: Liam Tait. Audio production: Simon Williams. Music by Kenny Dickinson. Artwork by James Parrett. Managing Editor: Jacob Jarvis. Group Editor: Andrew Harrison. THE BUNKER is a Podmasters Production. www.podmasters.co.uk  Learn more about your ad choices. Visit podcastchoices.com/adchoices