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01-02-2018, 09:22 AM
1

Inheritance tax

A really good article proposing that inheritance be cut to a flat 20% .
Im going to send it to my MP

http://www.dailymail.co.uk/money/com...utting-20.html
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02-02-2018, 06:25 PM
2

Re: Inheritance tax

Phillip Hammond is going to change things but for better or worse .
George Osbourne stupid rules only muddled things .
George Osbourne was the worst chancellor yet who got the job because he was a mate of Cameron's at Etonian.

http://www.dailymail.co.uk/money/pen...tance-tax.html
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02-02-2018, 06:30 PM
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Re: Inheritance tax

I gather that the threshold for payment of IHT is £325000 I would hazard a guess that a lot of people on here would fall into that bracket
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02-02-2018, 06:34 PM
4

Re: Inheritance tax

Well I would think so but perhaps not .
I do because I have a house that is worth more than that it a pretty small ordinary house too .
It's just that it is in an expensive area .
Yes I resent inheritance tax I didn't work and save my hard earned money to give 40% to the government to squander .
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02-02-2018, 06:37 PM
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Re: Inheritance tax

You and me both mate.
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02-02-2018, 10:32 PM
6

Re: Inheritance tax

I think it can be more than the £325,00 nil band. If you are married the Inheritance Tax allowance can be passed on to a surviving partner on death.

"Where an estate qualifies for spouse or civil partner exemption, the unused proportion of the nil-rate band when the first of the couple dies can be transferred to the estate of the surviving spouse or civil partner, sections 8A-C IHTA. The nil-rate band can be transferred when the surviving spouse or civil partner dies on or after 9 October 2007, irrespective of when the first of the couple died, so that the nil-rate band can be up to £650,000. There’s currently no specific exemption for a residence, or for assets being transferred to children and other direct descendants."


Edited to include a link'
http://www.telegraph.co.uk/finance/p...questions.html
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02-05-2018, 10:51 AM
7

Re: Inheritance tax

Next week Philip Hammond will review this tax hopefully to simplify it after the mess that idiot George Osbourne made of it .
Why not just raise it to £500 per person ?
Or raise the rate at which it is taxed .
IMO To go in at 40% is too much

I don't see why farmers kids are let off too .
why can't they get a mortgage like everyone else has too?

The seriously wealthy never pay inheritance tax they have it all tied up in trusts for their offspring .
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02-05-2018, 11:39 AM
8

Re: Inheritance tax

The seriously wealthy never pay inheritance tax they have it all tied up in trusts for their offspring .[/QUOTE]

My children's grandmother was a wealthy woman she died 13 years ago , long before her death her son in law a decent man offered to help her sort her finances out so she would be able to leave money to the grandchildren , she had 5 . She refused saying it was too much bother . When she died the government took £140,000 in inheritance tax and she never left any money for her grandchildren .

Its sad to think she preferred the government to have that money rather than help her offspring in a better life
 

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