Let's have a second go at what I was going to say, which is:

I admire your altruism, but I can't emulate it. I'm very old and I've spent the last few years doing everything (legal) that I can to protect my children's inheritance. If the tax goes, a weight will be lifted off me.

Surely your prime concern should be you and your kids concern should be you. Maybe sell up and don’t have property. Rent a property and that way you can give the kids and grandkids etc theirs now and put the equivalent of 40% of the total away and watch them enjoy it. Anything left in the savings 40% if you survive longer than seven years is free and no tax paid at all. Even if you do pop the tax rate paid drops pro rata.
You definitely need to lift that weight at your age and have some lovely memories to add to what you have already I’m sure.

You can only gift £3,000 in any one year tax free - whether that is all to one person or split between several - £3000 is thew limit.

A stairway to Heaven and a Highway to Hell give some indication of expected traffic numbers

Can you explain how assets such as a home, where it’s value has risen many times over has already been taxed, secondly the other main asset left after death is pension fund, contributions which were tax free, savings held in ISAs which have grown from re investment, tax free, so where is this taxed twice ?.

How Inheritance Tax works: thresholds, rules and allowances
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Contents
Overview
Passing on a home
Rules on giving gifts
When someone living outside the UK dies
Rules on giving gifts

Inheritance Tax may have to be paid after your death on some gifts you’ve given.

Gifts given less than 7 years before you die may be taxed depending on:

who you give the gift to and their relationship to you
the value of the gift
when the gift was given
You can get professional advice from a solicitor or a tax adviser about what you can give away tax free during your lifetime.

What counts as a gift
Gifts include:

money
household and personal goods, for example, furniture, jewellery or antiques
a house, land or buildings
stocks and shares listed on the London Stock Exchange
unlisted shares you held for less than 2 years before your death
A gift can also include any money you lose when you sell something for less than it’s worth. For example, if you sell your house to your child for less than its market value, the difference in value counts as a gift.

​​Anything you leave in your will does not count as a gift but is part of your estate. Your estate is all your money, property and possessions left when you die. The value of your estate will be used to work out if Inheritance Tax needs to be paid.

Who does not pay Inheritance Tax
Some gifts are exempt from Inheritance Tax.

There’s no Inheritance Tax to pay on gifts between spouses or civil partners. You can give them as much as you like during your lifetime, as long as they:

live in the UK permanently
are legally married or in a civil partnership with you
There’s also no Inheritance Tax to pay on any gifts you give to charities or political parties.

Using allowances to give tax free gifts
Each tax year, you can also give away some money or possessions free of Inheritance Tax. How much is tax free depends on which allowances you use.

Annual exemption
You can give away a total of £3,000 worth of gifts each tax year without them being added to the value of your estate. This is known as your ‘annual exemption’.

You can give gifts or money up to £3,000 to one person or split the £3,000 between several people.

You can carry any unused annual exemption forward to the next tax year - but only for one tax year.

The tax year runs from 6 April to 5 April the following year.

Example
In the 2021 to 2022 tax year, Mark gave £2,000 to his daughter Jane. If he died within 7 years of the gift, this would use £2,000 of his annual exemption.

In the following 2022 to 2023 tax year, Mark gave £4,000 to his other daughter Sarah. If Mark died within 7 years of the gift, this would use his annual exemption of £3,000 plus the £1,000 of annual exemption left over from the previous tax year.

Even if Mark dies within 7 years of giving these gifts, there’s no Inheritance Tax to pay.
Small gift allowance
You can give as many gifts of up to £250 per person as you want each tax year, as long as you have not used another allowance on the same person.

Birthday or Christmas gifts you give from your regular income are exempt from Inheritance Tax.

Gifts for weddings or civil partnerships
Each tax year, you can give a tax free gift to someone who is getting married or starting a civil partnership. You can give up to:

£5,000 to a child
£2,500 to a grandchild or great-grandchild
£1,000 to any other person
If you’re giving gifts to the same person, you can combine a wedding gift allowance with any other allowance, except for the small gift allowance.

For example, you can give your child a wedding gift of £5,000 as well as £3,000 using your annual exemption in the same tax year.

If you make regular payments
You can make regular payments to another person, for example to help with their living costs. There’s no limit to how much you can give tax free, as long as:

you can afford the payments after meeting your usual living costs
you pay from your regular monthly income
These are known as ‘normal expenditure out of income’. They can include:

paying rent for your child
paying into a savings account for a child under 18
giving financial support to an elderly relative
If you’re giving gifts to the same person, you can combine ‘normal expenditure out of income’ with any other allowance, except for the small gift allowance.

For example, you can give your child a regular payment of £60 a month (a total of £720 a year) as well as using your annual exemption of £3,000 in the same tax year.

The 7 year rule
No tax is due on any gifts you give if you live for 7 years after giving them - unless the gift is part of a trust. This is known as the 7 year rule.

If you die within 7 years of giving a gift and there’s Inheritance Tax to pay on it, the amount of tax due after your death depends on when you gave it.

Gifts given in the 3 years before your death are taxed at 40%.

Gifts given 3 to 7 years before your death are taxed on a sliding scale known as ‘taper relief’.

Taper relief only applies if the total value of gifts made in the 7 years before you die is over the £325,000 tax-free threshold.

Taper relief
Years between gift and death Rate of tax on the gift
3 to 4 years 32%
4 to 5 years 24%
5 to 6 years 16%
6 to 7 years 8%
7 or more 0%
Giving gifts you still benefit from
If you give something away but still benefit from it (a ‘gift with reservation’), it will count towards the value of your estate.

Gifts with reservation include:

giving your home to a relative but still living there
giving away a caravan but still using it for free for your holidays
giving away a valuable painting but still displaying it in your house
Read further guidance on when a gift with reservation counts towards the estate’s value.

Keeping records of gifts you’ve given
The person who deals with your estate will need to work out what gifts you gave in the 7 years before your death. You should keep the following records:

what you gave and who you gave it to
the value of the gift
when you gave it
How Inheritance Tax on a gift is paid
Any Inheritance Tax due on gifts is usually paid by the estate, unless you give away more than £325,000 in gifts in the 7 years before your death. Once you’ve given away more than £325,000, anyone who gets a gift from you in those 7 years will have to pay Inheritance Tax on their gift.

Example
Sally died on 1 July 2022. She was not married or in a civil partnership when she died.

She gave 3 gifts in the 9 years before her death:

£50,000 to her brother 9 years before her death
£325,000 to her sister 4 years and 2 months before her death
£100,000 to her friend 3 years before her death
There’s no Inheritance Tax to pay on the £50,000 gift to her brother as it was given more than 7 years before she died.

There’s also no Inheritance Tax to pay on the £325,000 she gave her sister, as this is within the Inheritance Tax threshold.

But her friend must pay Inheritance Tax on her £100,000 gift at a rate of 32%, as it’s above the tax-free threshold and was given 3 years before Sally died. The Inheritance Tax due is £32,000.

Sally’s remaining estate was valued at £400,000, so the estate would pay Inheritance Tax of 40% on £400,000 (£160,000).
Read further guidance on when a gift counts towards the estate’s value, how to value it and how much

I should have been clearer, it is not taxed, the point was about being taxed twice on assets or savings