This Is Money Show

It’s been called the most hated tax in Britain - but only four per cent of people pay it. You could be forgiven for thinking inheritance tax is something only the super-rich need to worry about.  But thanks to rising house prices and an increasing desire to transfer wealth between generations, more and more people are being drawn into the net. It happens not only when someone is left property or other assets from someone's estate, but also when they accept a gift from someone who passes away before the 'seven year rule' tax exemption kicks in.   The IFS says that that four per cent could become 12 per cent within a decade. And many of those who will never pay inheritance tax still hate the idea that the Government is taking a big cut of the wealth people have worked hard to build up over their lifetime.  So it might come as welcome news that Rishi Sunak is reported to be considering cutting the tax, or even scrapping it altogether, as a potential vote-winner ahead of the next election. What’s wrong wit