Discussion
Why do we allow the government to get its greedy mits on inheritence gains?
If everyone were to fight this through the courts then would we see a change in policy?
What right do the government have in the first place to claim money that is clearly not their's?
ok, that's my Wednesday whinge out of the way,....as you were...
If everyone were to fight this through the courts then would we see a change in policy?
What right do the government have in the first place to claim money that is clearly not their's?
ok, that's my Wednesday whinge out of the way,....as you were...
Inheritance tax is obscene. People who have paid tax all their lives, saved what's left all their lives, paid tax on their savings all their lives then leave a tax bill for their children on what's left.
But at least the government spends our money so well, which does make it more palatable.
AJI said:
What right do the government have in the first place to claim money that is clearly not their's?
Surely that applies to all taxes? They are all theft.No-one ever asked me if I'd like to sign a contract with the State to have a lump of cash deducted from my earnings each month.
plasticpig said:
Where is the government going to raise the £4 billion revenue lost by aboloshing inheritance tax? Most people dont care about inheritance tax because only 6% of estates are affected by it.
Only 6% of the UK have a total asset value of over £312,000? I thought it would have been higher. On the flipside, those inherting the money are effectively born into much of their wealth.
Personally I'd rather the govt kept their paws off the money, if people want to give all their money to their kids then let them but those inheriting can't really claim any sort of moral high ground.
only 6% - rubbish. Most people when retired have paid off their mortgage. Most have properties worth more than £312k!!! Many will, however, sell up and give to offspring and as long as more than 7 years before they die then there's no inheritance tax to pay.
Personally I'd rather the govt kept their paws off the money, if people want to give all their money to their kids then let them but those inheriting can't really claim any sort of moral high ground.
only 6% - rubbish. Most people when retired have paid off their mortgage. Most have properties worth more than £312k!!! Many will, however, sell up and give to offspring and as long as more than 7 years before they die then there's no inheritance tax to pay.
Edited by Dracoro on Wednesday 15th July 10:19
Dracoro said:
On the flipside, those inherting the money are effectively born into much of their wealth.
Personally I'd rather the govt kept their paws off the money but those inheriting can't really claim any sort of moral high ground.
But if it's the wish of the hard working and deeply taxed parents to leave some money, why should the government take even more?!Personally I'd rather the govt kept their paws off the money but those inheriting can't really claim any sort of moral high ground.
The politics of envy perhaps.
Dracoro said:
On the flipside, those inherting the money are effectively born into much of their wealth.
Personally I'd rather the govt kept their paws off the money but those inheriting can't really claim any sort of moral high ground.
I think pretty much everyone can claim the moral high ground over this lot!Personally I'd rather the govt kept their paws off the money but those inheriting can't really claim any sort of moral high ground.
plasticpig said:
Where is the government going to raise the £4 billion revenue lost by aboloshing inheritance tax? Most people dont care about inheritance tax because only 6% of estates are affected by it.
Interesting figures, where are they from? Only 6% of estates suffer, yet pay 4 billion? NDA said:
Dracoro said:
On the flipside, those inherting the money are effectively born into much of their wealth.
Personally I'd rather the govt kept their paws off the money but those inheriting can't really claim any sort of moral high ground.
But if it's the wish of the hard working and deeply taxed parents to leave some money, why should the government take even more?!Personally I'd rather the govt kept their paws off the money but those inheriting can't really claim any sort of moral high ground.
The politics of envy perhaps.
Don't make the assumption that it's all "hard working" either, many aren't (and many are of course). The really rich in many cases aren't for example.
will_ said:
plasticpig said:
Where is the government going to raise the £4 billion revenue lost by aboloshing inheritance tax? Most people dont care about inheritance tax because only 6% of estates are affected by it.
Interesting figures, where are they from? Only 6% of estates suffer, yet pay 4 billion? plasticpig said:
will_ said:
plasticpig said:
Where is the government going to raise the £4 billion revenue lost by aboloshing inheritance tax? Most people dont care about inheritance tax because only 6% of estates are affected by it.
Interesting figures, where are they from? Only 6% of estates suffer, yet pay 4 billion? Inheritance tax gets my goat more than any other tax. Taking a cut of an estate from someone who has saved all their life for having the audacity to die is disgraceful. Given that they would probably have paid for their own care in their later years too.
All you can do is make sure that you do whatever you have to do to make sure they can't find most of it...
All you can do is make sure that you do whatever you have to do to make sure they can't find most of it...
SoapyShowerBoy said:
plasticpig said:
Where is the government going to raise the £4 billion revenue lost by aboloshing inheritance tax? Most people dont care about inheritance tax because only 6% of estates are affected by it.
Only 6% of the UK have a total asset value of over £312,000? I thought it would have been higher. Got to remember that if husband (or wife dies) their unused nil rate band rolls over to surviving spouse thus making the nil rate band up to £650,000.
If you have an estate larger than £650,000 and haven't taken professional advice on how to mitigate IHT then you deserve to be taxed!
plasticpig said:
will_ said:
plasticpig said:
Where is the government going to raise the £4 billion revenue lost by aboloshing inheritance tax? Most people dont care about inheritance tax because only 6% of estates are affected by it.
Interesting figures, where are they from? Only 6% of estates suffer, yet pay 4 billion? I know Labour didn't bring in inheritence tax, but it's about time Politicians became accountable for mismanagement of public funds. Far too long has it been acceptable to go hugely overbudget without penalties.
Someone asked where they'd get the extra £4 billion generated..... well, scrap the olympics and your saving yourself Circa double that amount!
Mx_Stu said:
SoapyShowerBoy said:
plasticpig said:
Where is the government going to raise the £4 billion revenue lost by aboloshing inheritance tax? Most people dont care about inheritance tax because only 6% of estates are affected by it.
Only 6% of the UK have a total asset value of over £312,000? I thought it would have been higher. Got to remember that if husband (or wife dies) their unused nil rate band rolls over to surviving spouse thus making the nil rate band up to £650,000.
If you have an estate larger than £650,000 and haven't taken professional advice on how to mitigate IHT then you deserve to be taxed!
Of course, our own chancellor doesn't understand it, hence why we needed to pay for him to take tax advice....
Gassing Station | The Lounge | Top of Page | What's New | My Stuff