Can my mum give me £10,000 Premium Bonds pls help

Vonhelmet · 9 Jan 2010 at 18:34

ChroniC said:
Something ive wondered about inheritance tax is, if you know your going to be, couldn't you buy loads of diamonds, and give them too your kids. How does the government know of these assets, or would they be suspicious if you suddenly had a large sum of cash after the death?

They do asset tracing to follow money around. Not inheritance tax related, but a friend of mine works for a company that provides software to hmrc to trace dodgy people and their money and their networks of contacts.

Kemik · 9 Jan 2010 at 18:37

Yozz76 said:
Completely off topic but are you my son? You live in the same town as us and he is a Sean H too!

I've been led to believe my dad is called Dave and I'm 21. If they's not right, let me know.

Energize · 9 Jan 2010 at 18:39

Dan87 said:
lol @ how completley insensitive the OP sounds

Yeah because sound financial planning means you hate your parents and want them do die..... :confused:

Dan87 · 9 Jan 2010 at 18:42

Energize said:
Yeah because sound financial planning means you hate your parents and want them do die.....

At what point did i say he wanted his parents to die, or that he hated them?? haha get a grip you strange man.

surely he could have put a 'God forbid' after the mum dying part?

Learn to read

Energize · 9 Jan 2010 at 18:46

Dan87 said:
At what point did i say he wanted his parents to die, or that he hated them?? haha get a grip you strange man.

Just trolling then.

^TANK^ · 9 Jan 2010 at 18:48

Thread has potential, five stars

.

Dan87 · 9 Jan 2010 at 18:48

Energize said:
Just trolling then.

Ermm.. Not at all. Several people have also agreed with me in this thread.

Go take a nap. Safe.

SlyReaper · 9 Jan 2010 at 18:51

Everyone dies. it's a fact of life, and odds are that your parents will do it before you. How does recognising that fact and planning how to deal with it make you insensitive? :confused:

K1LLSW1TCH · 9 Jan 2010 at 18:52

mollymoo said:
I'm going to kill my mum will I have to pay inheritance tax on the £10,000 she's just about to give me?

lol! Exactly. The OP may as well have said that it probably would have been more tactful.

OP, get some taste, that's your mother you're talking about. Show a bit of respect, especially if she's of ill health which may be the case seeing as you are saying she could pass away within the next decade. This thread is selfish.

Energize · 9 Jan 2010 at 18:57

Tattooed I think you may get some more rational responses on www.moneysavingexpert.com

^TANK^ said:
Thread has potential, five stars.

Agreed.

Dan87 · 9 Jan 2010 at 18:58

SlyReaper said:
Everyone dies. it's a fact of life, and odds are that your parents will do it before you. How does recognising that fact and planning how to deal with it make you insensitive?

It's the way he worded it...

It lacked any emotion given the fact he was talking about the death of his own mother.

K1LLSW1TCH · 9 Jan 2010 at 19:02

Dan87 said:
It's the way he worded it...

It lacked any emotion given the fact he was talking about the death of his own mother.

Exactly. If I found out there's a chance my mother could die within the next few years the least of my worries would be how much cash I can wring out of her.

Greebo · 9 Jan 2010 at 19:09

K1LLSW1TCH said:
lol! Exactly. The OP may as well have said that it probably would have been more tactful.

OP, get some taste, that's your mother you're talking about. Show a bit of respect, especially if she's of ill health which may be the case seeing as you are saying she could pass away within the next decade. This thread is selfish.

FFS I sometimes despair at the people who post of ocuk. That was a perfectly reasonable question and not selfish at all. If everybody was like you then more money would go to this government in taxes when they didn't need to as there are ways round them

Grow up and stop posting nasty abuse will you.

Vonhelmet · 9 Jan 2010 at 19:14

You guys are a bunch of idiots. It's a valid concern from the op. Giving or receiving non-cash assets can be risky as you can be left with a sizable tax bill and no cash with which to pay it. The op is aware of this risk and has asked here to confirm and check further. There is no indication he wants his mum dead. Don't be ridiculous.

My parents lent me the money for my house, and they bought a house that my brother rents. You'd best believe we got tax advice on the arrangements we were putting into place, and that included inheritance tax considerations. Anything less would have been foolish.

Vonhelmet · 9 Jan 2010 at 19:16

Dan87 said:
It's the way he worded it...

It lacked any emotion given the fact he was talking about the death of his own mother.

Don't be daft. I can talk about the death of my parents without much emotion, because it's not on the cards any time soon. For all you know his mother is 35 and in great health, but it's worth considering what would happen if she gets hit by a bus.

Pez · 9 Jan 2010 at 19:16

vonhelmet said:
You guys are a bunch of idiots. It's a valid concern from the op. Giving or receiving non-cash assets can be risky as you can be left with a sizable tax bill and no cash with which to pay it. The op is aware of this risk and has asked here to confirm and check further. There is no indication he wants his mum dead. Don't be ridiculous.

My parents lent me the money for my house, and they bought a house that my brother rents. You'd best believe we got tax advice on the arrangements we were putting into place, and that included inheritance tax considerations. Anything less would have been foolish.

What this man says.

My line of work deals with Probate, Wills and IHT - If the situation is as it seems, it would be a very good idea to seek expert advice at this stage

^TANK^ · 9 Jan 2010 at 19:18

vonhelmet said:
Don't be daft. I can talk about the death of my parents without much emotion, because it's not on the cards any time soon. For all you know his mother is 35 and in great health, but it's worth considering what would happen if she gets hit by a bus.

Touch wood.

Dan87 · 9 Jan 2010 at 19:19

this is an internet message board yeah?.. you post opinions about things, you comment on threads people have made.

was just giving my opinion and all that, doing the forum thing.

Sorry to have raged all of you. Didn't mean too

SlyReaper · 9 Jan 2010 at 19:20

vonhelmet said:
You guys are a bunch of idiots. It's a valid concern from the op. Giving or receiving non-cash assets can be risky as you can be left with a sizable tax bill and no cash with which to pay it. The op is aware of this risk and has asked here to confirm and check further. There is no indication he wants his mum dead. Don't be ridiculous.

My parents lent me the money for my house, and they bought a house that my brother rents. You'd best believe we got tax advice on the arrangements we were putting into place, and that included inheritance tax considerations. Anything less would have been foolish.

This this. So much this. Death and money should not be the taboo that it seems to be.

K1LLSW1TCH · 9 Jan 2010 at 19:21

Greebo said:
FFS I sometimes despair at the people who post of ocuk. That was a perfectly reasonable question and not selfish at all. If everybody was like you then more money would go to this government in taxes when they didn't need to as there are ways round them

Grow up and stop posting nasty abuse will you.

You despair at me simply because I don't think it's very tasteful of the OP to word his posts so coldly?

Sorry but the OP has a right to say what he likes and so do I. If it were me I wouldn't run to the Internet at the very first moment. Get some proper advice or talk to other members of your family. There's some things you just keep to yourself and things like this aren't really what you go blabbing to strangers about.