Can you imagine tax inspectors rifling through your possessions to see if their value corresponds with the self-assessment you’ve made under a new ‘net worth tax’? We’re talking of items on which you already have paid tax. Or heirlooms for which your parents or their parents were taxed. You’ve heard of the special ‘mansion tax’ payable by anyone owning a property worth more than £2 million. Under the Lib Dem's proposed new scheme tax inspectors would get unprecedented new powers to go into homes and value rings, necklaces, paintings, furniture and other family treasures The so called 'jewellery tax' was drawn up by Tessa Munt (left) and David Laws (right) Now a Liberal Democrat policy document discusses a more extraordinary scheme – a special tax on those whose possessions and properties combined exceed £2 million in value. Drawn up by Lib Dem MPs Tessa Munt and David Laws – who are close to party leader and deputy premier Nick Clegg – this envisages: