Inheritance Tax has been voted the nation’s most hated tax according to a poll out today from Co-operative Financial Services (CFS).
Nearly a third said they would like to see the so called ‘death tax’ killed off, the research reveals.
Stamp Duty is the country’s second least favourite and should be felled according to almost a quarter would be climbers on the property ladder. While one in five want the Chancellor to home in the abolition of Council Tax at his budget next month.
A further one in seven fed up motorists voted fuel and road duty into fourth place and believe they would be miles better off if HMRC put the brakes on such duties.
Despite Income Tax being the biggest deduction for most of the nation’s taxpayers, just one in 10 would call for the Chancellor to wage war on PAYE.
The country’s five most unpopular taxes according to the poll of more 3,000 people are:
1. Inheritance Tax – 31%
2. Stamp Duty – 23%
3. Council Tax – 21%
4. Fuel and road duty – 15%
5 Income Tax – 9%
“There’s no doubt everyone would feel financially better off if they paid less tax, and the good news is that there are simple steps that can be taken to get your own back a little on the Taxman. Just by making contributions to an ISA or pension, people can take advantage of tax breaks,” David Anderson, CEO, CFS.