Justification for inheritance tax.

[CommanderJameson]

So, go on, then. Why SHOULD the gubmint get its paws on 40% of my hard-earned if I happen to snuff it and leave more than £240K?

[simpo two]

No idea, especially seeing as you already paid 22-40% of it in tax on the way there.

[alexkp]

Because it needs the money to pay for all the ers who have never worked or spent every penny they ever earned.

(Excepting the genuinely needy of course)


Think of it as the final kick in the knackers from the state.

>> Edited by alexkp on Thursday 22 December 21:41

[rico]

I think inheritance tax is sickening. There have been dozens of cases of people having to sell their family home to pay the tax, a home which has been passed down through generations.

The government should be ashamed!

But yes, its to pay for all the money wasting and scroungers.

[scorp]

To prevent any more Paris Hiltons?

[alfaman]

What is annoying is that when it was first introduced (1960's ? ) the limit at the time ( £150 k ? ) was equivalent to several million pounds in todays money ( IIRC ) - so very few people paid it .... the super wealthy could avoid it through trusts , and most well off professionals' estates weren't worth that much.

NOW - just about everyone who owns a home will be eventually butt ed by Gordon to pay for Labours bureacratic waste , on money that has already been taxed when it was earned - a totally immoral tax.

[2 sMoKiN bArReLs]

If you have to pay it, the tax is the last of your worries

[jessica]

anonymous said:

[redacted]

got it in one matey
so make sure you spend the sodding lot and scrounge in yer old age

[raf dug]

2 sMoKiN bArReLs said:

If you have to pay it, the tax is the last of your worries

My mum is 82 she has lung cancer and leukemia and she is worried about paying inheritance Tax(I haven't the heart to tell her she won't be here)Why should she worry when her and my late father worked all there adult lives incuding serving in the raf in world war2.why Can't the government just leave her in peace.

[Wacky Racer]

CommanderJameson said:

So, go on, then. Why SHOULD the gubmint get its paws on 40% of my hard-earned if I happen to snuff it and leave more than £240K?

UK Inheritance tax is currently set at 40% of EVERYTHING over £267,000, rising to £300,000 next year.

There are ways around this, such as seven year covenants, foreign exile,etc,etc. a very complicated subject, plenty of good advice available on the internet...

>> Edited by Wacky Racer on Thursday 22 December 22:13

[puggit]

Wacky Racer said:

plenty of good advice avaiable on the internet...

Come on then - we're waiting

[Wacky Racer]

puggit said:

Wacky Racer said: plenty of good advice avaiable on the internet... Come on then - we're waiting

Get on the internet you lazy bugger.........

[2 sMoKiN bArReLs]

raf dug said:

2 sMoKiN bArReLs said: If you have to pay it, the tax is the last of your worries My mum is 82 she has lung cancer and leukemia and she is worried about paying inheritance Tax(I haven't the heart to tell her she won't be here)Why should she worry when her and my late father worked all there adult lives incuding serving in the raf in world war2.why Can't the government just leave her in peace.

True.

[raf dug]

Wacky Racer said:

CommanderJameson said: So, go on, then. Why SHOULD the gubmint get its paws on 40% of my hard-earned if I happen to snuff it and leave more than £240K? UK Inheritance tax is currently set at 40% of EVERYTHING over £267,000, rising to £300,000 next year. There are ways around this, such as seven year covenants, foreign exile,etc,etc. a very complicated subject, plenty of good advice avaiable on the internet...

Yes, but my mams house was just over £267000 this year and next year it will be over £300000 and thats just the house 40p in the pound is rediculous they have already payed income tax on it.

[Pat H]

puggit said:

Wacky Racer said: plenty of good advice avaiable on the internet... Come on then - we're waiting

Its dead simple.

Just give it all to your kids seven years before you snuff it.

Next.....

[JonRB]

There is no justification for Inheritance Tax. It is the most immoral and reprehensible tax of all.

Even the name is a misnomer - it was more accurate when it was simply called Death Duty.

[raf dug]

JonRB said:

There is no justification for Inheritance Tax. It is the most immoral and reprehensible tax of all. Even the name is a misnomer - it was more accurate when it was simply called Death Duty. >> Edited by JonRB on Thursday 22 December 22:15

It used to be called death duties but the pc brigade changed the name to make it sound more acceptable.(robbery is robbery no matter what fancy name they give it).

[Wacky Racer]

Pat H said:

puggit said: Wacky Racer said: plenty of good advice avaiable on the internet... Come on then - we're waiting Its dead simple. Just give it all to your kids seven years before you snuff it. Next.....

Not just as simple as that, you are only able to "gift" a maximum of £3000 in any one tax year........, but there are exceptions such as "Wedding gifts" etc......

[8Pack]

Strange how this "wish list" of the mega rich gets peddled around the world isn't it?...

If one didn't know any better one would think an agenda had been set somewhere

Anyway, read what Andrew Carnegie, the great American Billionaire and Philanthropist thought about the...."Estate tax" (death tax), it's reason for being and it's effects...

I agree it kicks in too early in the UK.......but repeal it?...........No!

www.fixco1.com/docs/estatetax.html

[JonRB]

raf dug said:

JonRB said: There is no justification for Inheritance Tax. It is the most immoral and reprehensible tax of all. Even the name is a misnomer - it was more accurate when it was simply called Death Duty. It used to be called death duties but the pc brigade changed the name to make it sound more acceptable.

I know. That's why I wrote "it was more accurate when it was simply called Death Duty".