Tax you'll never have to pay

Being an octogenarian I have certain views on inheritance tax. It is a myth today that it is the most despised tax – that privilege falls upon income tax.

Why? Because the latter is payable by millions throughout their lifetime, whereas no one is ever called upon to pay inheritance tax, upon demise it is levied on their estate.

In any case, only eight out of 1,000 estates pay inheritance tax.

The Shadow Chancellor has said that a raft of green taxes will have to be imposed for abolishing inheritance tax. Not, apparently, by cutting Whitehall waste and scrapping ID cards as previously announced.

So instead of the tax being borne by the beneficiary it will be met by the many from general taxation. This also means paying more tax when alive and none when dead. Which alternative would you prefer?

It is right that one should be able to pass on one's estate to one's children, but the question of abolishing inheritance tax as this time has only arisen because of the new-found wealth in the economy from permanently rising house prices created under Mr Brown's chancellorship.

Without any effort on my part, my estate, like many others, has increased considerably due to the house price inflation. I hope my inheritance tax liability will be large, as 40 per cent will go to the government, 60 per cent will pass to my children.

In any event, is not an inheritance from one's parents a "freebie".

D Bailey, Bramstead Avenue, Compton.