Inheritance tax is your final tax bill, easy to put out of your mind because it is only paid after you are dead. At one time it was only paid by the very wealthy, but as home ownership has become more widespread and as property prices have escalated, more and more people are drawn into it.
Currently you need to leave a legacy greater than £325,000 to pay it. In 2012-13 it is estimated that 15,976 estates paid inheritance tax, which is only 3% of all deaths in the year. Nonetheless, this totalled up to £3.4 billion.
By 2018-19 the Office of Budget Responsibility expects this to rise to £5.8 billion.
If you are a Government hell bent on austerity, this is a powerful incentive for a much more aggressive policy on euthanasia (oops ! ….. assisted suicide). And as a collateral benefit, we will save a lot more money spent on the NHS, if there are less old people around.