Inheritance Tax

[pioneer]

The initial message was deleted from this topic on 01 June 2013 at 20:56

[pioneer]

The initial message was deleted from this topic on 01 June 2013 at 20:57

[pioneer]

The initial message was deleted from this topic on 01 June 2013 at 20:57

[Eric Mc]

I can see some of Labour's old friends benefitting from this.

What is Gordon more concerned about - increasing tax yield to the Exchequer or making a political point?

[MX7]

pioneer said:

Quote from Gordon:-

Speaking in Eltham, south east London, Gordon Brown attacked Tory plans to raise the inheritance tax threshold to £1m, which he said would only benefit 3,000 of the Tories' "old friends".

I couldn't understand his 3,000 figure. Wouldn't anyone receiving more than £325k benefit?

[chris watton]

What I find morally unjust is people like one of my family who have worked without paying any tax whatsoever whilst claiming all benefits they can lay their grubby little hands on, pretending not to have a job – and not ever paid a penny in tax in her life!
Another member of my family ‘bragged’ about her new kitchen installed free of charge by the council, and was over the moon with her £500 bribe from Brown for a free laptop, courtesy of us who actually have to work hard to buy such things – especially my little sister who has been saving up for months to get a PC, as both her and her husband are on fairly low paid jobs.
Brown has helped create a monster, where the good are punished and the feckless rewarded at the expense of the good – I hate him with a passion.

[Asterix]

3,000?

Loads more than that would benefit and they wouldn't be particularly 'rich'in the true sense of the word.

...and what's this 'double millionaire' stuff from the lib dems?

[MX7]

pioneer said:

MX7 said:

pioneer said:

Quote from Gordon:-

Speaking in Eltham, south east London, Gordon Brown attacked Tory plans to raise the inheritance tax threshold to £1m, which he said would only benefit 3,000 of the Tories' "old friends".

I couldn't understand his 3,000 figure. Wouldn't anyone receiving more than £325k benefit?

I would think there would be far more than 3000 people with estates worth over £325,000. Maybe he's counting it as £650,000 for married couples (funny how this is used as a good thing but Labour say the tax credits for marriage proposed by Tories are not fair!?). I still would have thought there were more than 3000 estates over £650k though to be honest. Most houses in London must be worth near that.

There are about 500,000 millionaires in the UK. Where does the 3,000 figure come from? I think that Brown is trying to make it out that only the absolute elite will benefit, which is complete nonsense.

[Oakey]

MX7 said:

pioneer said:

Quote from Gordon:-

Speaking in Eltham, south east London, Gordon Brown attacked Tory plans to raise the inheritance tax threshold to £1m, which he said would only benefit 3,000 of the Tories' "old friends".

I couldn't understand his 3,000 figure. Wouldn't anyone receiving more than £325k benefit?

I'm glad I'm not the only one who can see the flaw in this argument.

[AndrewW-G]

As usual with any labour policy, this is just a sound bite with no basis in reality.

The people, who tend to be hit hardest by inheritance tax, are the families who have assets above the £325k limit, but not by enough for them to have realised E.G. people with a family home worth over £325k.

IMHO people who have assets over £1,000,000 would have already thought of or been advised to seek professional help in mitigating any potential inheritance tax liabilities...................for the top 3,000 richest in the country, it will have been something that was planned for and mitigated for a considerable time.