Conservative MPs have called for the abolition of the inheritance tax, with former chancellor Nadhim Zahawi suggesting it was “morally wrong” to take someone’s assets on their death.
Writing in The Telegraph, Zahawi argued that inheritance tax negatively affects personal finances and the wider economy.
“Inheritance tax is that other spectre that haunts us alongside death,” he said.
The former chairman of the Conservative Party, Zahawi suggested that Rishi Sunak’s government had “a golden opportunity” to scrap the inheritance tax.
“Inheritance tax is often a killer for family businesses. They can often be short of liquidity; getting lumped with a big tax bill (at the worst moment on the death of a loved one, no less) means you often must sell up because there is no spare cash around to pay it,” Zahawi said….