Trade union chiefs have called for Holyrood to have the power to hit the wealthy with higher inheritance tax rates. An STUC motion believes devolving the tax would raise vital cash for public services during the cost of living crisis.
Under the current system, no inheritance tax is paid on the value of estates worth less than £325,000. A 40 per cent tax is applied to cash and assets above this level, although there are exemptions for spouses and civil partners.
The so-called “death tax” is reserved to Westminster, but the STUC is of the view that it should be transferred to MSPs. Trade union leaders will meet in Dundee next week for the STUC's annual congress and they believe increasing inheritance tax could be one way of taking more money from the rich
