Quick question - inheritance tax...
Discussion
Burwood said:
HotJ, you beat me to it-today we pledged 1B to Syria, oh, and how much on taking in their populace.
Yeah, the scrounging b
ds. They just want our benefits. It's not like they're experiencing any kind of real hardship, at least nothing that compares to IHT. Maybe you should ho to Syria and see what it's like. Then you might spend less time whining about having to contribute to the society you benefit so much from.
HotJambalaya said:
There really is some extraordinary socialism and would be attempts at social engineering in this thread, the amount of people who are espousing ways to detract from and then spend other people's wealth is really incredible.
Whichever way you try and cut it, supporters of IHT are unfortunately at best uneducated, and at worst full on flag wavers of the politics of envy.
hardly especially when the threshold is being raised as it is Whichever way you try and cut it, supporters of IHT are unfortunately at best uneducated, and at worst full on flag wavers of the politics of envy.
also outside of the London village bubble the house price stuff is remarkable
Burwood said:
HotJ, you beat me to it-today we pledged 1B to Syria, oh, and how much on taking in their populace.
I completely agree, economic migrants, scrounging foreigners coming over here, using up our welfare system, earning money then buggering off back to their homeland to avoid paying tax. Remind where you were born again.
singlecoil said:
Also mentioned earlier somewhere is the fact that inheritance is NOT a gift. Gifts can only be made by people who are alive. You can choose who it goes to, for the most part, but that's not giving, that's choosing. Because you can't take it with you.
And as I mentioned earlier, if I GIFT most of my estate 6 years, 11 months and 3 weeks beforeI peg it, the 7 year rule trumps that!!!As happened to a friend of mine's nan...
Jim1556 said:
singlecoil said:
Also mentioned earlier somewhere is the fact that inheritance is NOT a gift. Gifts can only be made by people who are alive. You can choose who it goes to, for the most part, but that's not giving, that's choosing. Because you can't take it with you.
And as I mentioned earlier, if I GIFT most of my estate 6 years, 11 months and 3 weeks beforeI peg it, the 7 year rule trumps that!!!As happened to a friend of mine's nan...
Jim1556 said:
singlecoil said:
Also mentioned earlier somewhere is the fact that inheritance is NOT a gift. Gifts can only be made by people who are alive. You can choose who it goes to, for the most part, but that's not giving, that's choosing. Because you can't take it with you.
And as I mentioned earlier, if I GIFT most of my estate 6 years, 11 months and 3 weeks beforeI peg it, the 7 year rule trumps that!!!As happened to a friend of mine's nan...
Burwood said:
How they replace the revenue is irrelevant to this thread. Add it to fuel duty. Start collecting tax from google, amazon etc. that would pay for it. Here's a novel idea, control government spending. Stop handing out cash to anyone who asks for it such as economic migrants. Just some crazy ideas. You know, ideas which most would think reasonable.
I'm still waiting for your evidence that most want IHT but I doubt I'll see it. Some just can't accept they made an erroneous statement.
My statement was that most people would like to see IHT set at a more progressive rate, I unfortunately don't have the means to commission a Yougov poll on the subject. The last poll was taken at a time where many people would have fallen into it just by the value of their parents house, that was addressed and now the rate is set at a higher rate, one which will become higher still soon. I'm still waiting for your evidence that most want IHT but I doubt I'll see it. Some just can't accept they made an erroneous statement.
I can't site a poll that will support my opinion that most people would like to see IHT be made more progressive, I do agree that a flat rate on a fixed cutoff is unfair, however I think that if voters were asked how they would like it set my opinion is that people would object to the idea that those with a considerable amount of wealth should not be able to just give it to their children without it being taxed.
There is also an argument to be had about whether houses should become partially exempt, however all this would require administration, which means a larger government department, which means more taxes to pay for it.
Devil2575 said:
Burwood said:
HotJ, you beat me to it-today we pledged 1B to Syria, oh, and how much on taking in their populace.
Yeah, the scrounging bds. They just want our benefits. It's not like they're experiencing any kind of real hardship, at least nothing that compares to IHT. Maybe you should ho to Syria and see what it's like. Then you might spend less time whining about having to contribute to the society you benefit so much from.
Personal opinion is that the increases stand a reasonable chance of taking things like a primary residence out of the mix, meaning that those that don't think about because they don't have big pile of fifties are not impacted.
Above that, it's not a surprise, so those estates that pay IHT either positively want to, or positively opt out of planning for it. C'est la vie, eh?
I'd be very surprised if the very rich suffer the same way the aristocracy did when it came in.
Above that, it's not a surprise, so those estates that pay IHT either positively want to, or positively opt out of planning for it. C'est la vie, eh?
I'd be very surprised if the very rich suffer the same way the aristocracy did when it came in.
JacquesMesrine said:
Burwood said:
HotJ, you beat me to it-today we pledged 1B to Syria, oh, and how much on taking in their populace.
I completely agree, economic migrants, scrounging foreigners coming over here, using up our welfare system, earning money then buggering off back to their homeland to avoid paying tax. Remind where you were born again.
Burwood said:
Devil2575 said:
Burwood said:
HotJ, you beat me to it-today we pledged 1B to Syria, oh, and how much on taking in their populace.
Yeah, the scrounging bds. They just want our benefits. It's not like they're experiencing any kind of real hardship, at least nothing that compares to IHT. Maybe you should ho to Syria and see what it's like. Then you might spend less time whining about having to contribute to the society you benefit so much from.
If that's what you call a personal attack then you need to get out a bit more, chum.
I could have launched into a personal attack, especially when you complained about us helping Syrians in a thread where you're complaining about IHT. After all what is happening over there is about a close to a living hell as I can imagine.
Your definition of insolvent and everyone else's is clearly different. This country is far from insolvent.
Devil2575 said:
Really? A personal attack?
If that's what you call a personal attack then you need to get out a bit more, chum.
I could have launched into a personal attack, especially when you complained about us helping Syrians in a thread where you're complaining about IHT. After all what is happening over there is about a close to a living hell as I can imagine.
Your definition of insolvent and everyone else's is clearly different. This country is far from insolvent.
I wouldn't worry about it, hopefully he's really rich so we can have plenty of IHT from him when he shuffles off this mortal coil....If that's what you call a personal attack then you need to get out a bit more, chum.
I could have launched into a personal attack, especially when you complained about us helping Syrians in a thread where you're complaining about IHT. After all what is happening over there is about a close to a living hell as I can imagine.
Your definition of insolvent and everyone else's is clearly different. This country is far from insolvent.
Devil2575 said:
Your definition of insolvent and everyone else's is clearly different. This country is far from insolvent.
You mean my definition as opposed to yours, being as long as the cheque clears, all good. Attitudes like yours will see the next generation in a pile steaming cat st.HotJambalaya said:
There really is some extraordinary socialism and would be attempts at social engineering in this thread, the amount of people who are espousing ways to detract from and then spend other people's wealth is really incredible.
Whichever way you try and cut it, supporters of IHT are unfortunately at best uneducated, and at worst full on flag wavers of the politics of envy. So my old aunt, who bought her house for £18000 back in the day has the good fortune to have it valued now at almost £2m, wants to leave it to her son his wife and 2 kids that are currently living in a 2 bedroom flat. She can't, and the family home has to be sold to pay the tax. Thats OK for you because 'she didn't earn it'?
Given that the UK earned about £2.9bn in IHT in 2013, and spent about £11.8bn on foreign aid, I have a pretty good idea about how to make up for the shortfall of treasury receipts on it. Christ, George Osborne has pledged £1bn to help fight malaria, how many cases of malaria have we had here?!
Pretty much every decent economist believes that the negatives of IHT far outweigh the positives, all this pathetic winging about house price inflation is utter nonsense, 14,600 odd people's estate came under IHT in 2013, are you saying that 14,600 people were enough to single handedly cause all the house price inflation in the country? Idiotic! On top of that, you have the super wealthy (hint, you want them in the country) leaving, and taking their spending power and wealth with them. They could be here every day, spending spending spending, but at MOST they'll only want to spend 179 days a year here now. Oh, and they don't cause house price inflation either, because believe me, they aren't shopping in the same house price category as you.
Australia got rid of IHT in the late 1970's and it seems to be doing pretty damn well for itself.
So let me get my head around the sad tale of your aunt and cousin.Whichever way you try and cut it, supporters of IHT are unfortunately at best uneducated, and at worst full on flag wavers of the politics of envy. So my old aunt, who bought her house for £18000 back in the day has the good fortune to have it valued now at almost £2m, wants to leave it to her son his wife and 2 kids that are currently living in a 2 bedroom flat. She can't, and the family home has to be sold to pay the tax. Thats OK for you because 'she didn't earn it'?
Given that the UK earned about £2.9bn in IHT in 2013, and spent about £11.8bn on foreign aid, I have a pretty good idea about how to make up for the shortfall of treasury receipts on it. Christ, George Osborne has pledged £1bn to help fight malaria, how many cases of malaria have we had here?!
Pretty much every decent economist believes that the negatives of IHT far outweigh the positives, all this pathetic winging about house price inflation is utter nonsense, 14,600 odd people's estate came under IHT in 2013, are you saying that 14,600 people were enough to single handedly cause all the house price inflation in the country? Idiotic! On top of that, you have the super wealthy (hint, you want them in the country) leaving, and taking their spending power and wealth with them. They could be here every day, spending spending spending, but at MOST they'll only want to spend 179 days a year here now. Oh, and they don't cause house price inflation either, because believe me, they aren't shopping in the same house price category as you.
Australia got rid of IHT in the late 1970's and it seems to be doing pretty damn well for itself.
She will leave her son a £2m house and probably son savings. He will have to sell the house to pay IHT, about £540K at a rough estimate. Less if she hangs on another couple of years. Leaving him a measly £1.46m to buy a house for his family. Ahhh, the poor love. Can you set up a link to his "justgiving" page and I'll make a donation to help him in his tragic plight.
FFS! The lack of real life awareness in some in these posts is staggering.
Burwood said:
JacquesMesrine said:
Burwood said:
HotJ, you beat me to it-today we pledged 1B to Syria, oh, and how much on taking in their populace.
I completely agree, economic migrants, scrounging foreigners coming over here, using up our welfare system, earning money then buggering off back to their homeland to avoid paying tax. Remind where you were born again.
I've asked you several times, but I'd love to know what your estate is worth and how much of that is your family home. It's hardly going to give away who you are.
Burwood said:
You mean my definition as opposed to yours, being as long as the cheque clears, all good. Attitudes like yours will see the next generation in a pile steaming cat st.
I mean the actual definition. Insolvent has a specific meaning. This country is not insolvent. t.If your so concerned then maybe you should be campaigning to have the threshold for IHT lowered?
TwigtheWonderkid said:
So let me get my head around the sad tale of your aunt and cousin.
She will leave her son a £2m house and probably son savings. He will have to sell the house to pay IHT, about £540K at a rough estimate. Less if she hangs on another couple of years. Leaving him a measly £1.46m to buy a house for his family. Ahhh, the poor love. Can you set up a link to his "justgiving" page and I'll make a donation to help him in his tragic plight.
FFS! The lack of real life awareness in some in these posts is staggering.
Absorbed in themselves and how much money they think they are entitled too She will leave her son a £2m house and probably son savings. He will have to sell the house to pay IHT, about £540K at a rough estimate. Less if she hangs on another couple of years. Leaving him a measly £1.46m to buy a house for his family. Ahhh, the poor love. Can you set up a link to his "justgiving" page and I'll make a donation to help him in his tragic plight.
FFS! The lack of real life awareness in some in these posts is staggering.
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