Inheritance tax, council tax and stamp duty get Britain's goat
Inheritance tax, council tax and stamp duty are top of the list of the UK's tax bugbears, according to a survey released today.With only days to go until Mr Brown's eleventh budget, more than 90 per cent of Britons feel they do not get value for money for their taxes, according to the survey from personal finance website, Fool.co.uk While inheritance tax, council tax and stamp duty were the most bemoaned, three out of four people believed that income tax and VAT were actually two of the fairest taxes.Nine out of ten people thought Britain's tax system too complicated, with research revealing one out of three people completing a self assessment tax return required professional help to do so."Most people accept that taxes are inevitable in a civilised society. But people want to see tangible benefits in return for the money they pay in the form of taxes," David Kuo, head of personal finance at Fool.co.uk, said.When asked about inheritance tax, Mr Kuo had strong feelings: "The tax is nothing short of graveyard robbery, and discourages families to save and own. "Even worse, it thwarts every family's right to pass on its wealth to future generations."The budget on March 21st is reputed to be Mr Brown's last, before he is expected to take over as Tony Blair's successor later this year.
Share this..
Related stories
What is Income Protection?
13/01/2014 The majority of us have insurance for our holidays, our mobiles phones and our cars. It’s always nice to be reminded that if something was to happen on your holiday, to your phone or car, that you would be covered and not have to worry about making up the difference. Some people don’t know that we can actually insure the thing that is most important to us, financially- our inc...
Read MoreAre you planning on a lottery win to bail you out?
A survey today suggests that a massive 24% of people in Scotland are looking towards a national lottery win to bail themselves out of their current financial situation. This is a significant increase on the traditional level of lottery dependence and when you consider the odds are over 14,000,000 to one that you will hit the big jackpot this really is a shot in the dark!
While there...
More confusion as Alistair Darling speaks out
Alistair Darling, the Chancellor of the Exchequer, today suggested that the UK government would look to cut the public spending deficit sooner than expected if the UK economy proved to be stronger than many analysts are forecasting. In yet another U-turn by the government this "gilt market friendly" statement would appear to be purely and simply a political move because the Chancellor has refused...
Read MoreLloyds bank names new chairman
With Lloyds Bank chairman Victor Blank set to retire in the short term, the UK government has today announced the appointment of Win Bischoff as his replacement. Bischoff comes from a credible financial background having been a former chairman of Citigroup Inc although worryingly for some parties in the UK, he has also served as an adviser to the UK government. So who has actually made this partic...
Read MoreAre we seeing a cutback in the UK government budget?
Amid reports that the UK government is in discussions with defence and finance ministry officials regarding the Eurofighter defence contract, it appears as though we are entering a period of budget cutbacks. Despite a number of suggestions to the contrary in the House of Commons as the UK budget was presented, it appears as though a number of public sector projects may well be under review.
...