£9bn inheritence

Stretch said:
It's a good question.

http://www.telegraph.co.uk/tax/inheritance/inheritance-tax-and-how-the-dukes-of-westminster-avoid-it-on-the/

The question I have is how did this trusts operate. Normally, a trust pays a flat rate of 45% tax on all income.

If this was the case, fair play to them. However, if they managed to find a way to weasel out of the income tax too, it's a bit smelly.



So all the income is paid out of the trust, at "normal" income tax rates.
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These people operate on the Imelda Marcos tax regime, that is "only the little people pay tax"
 
flowrider99 said:
Who did they steal it from?

My undersranding is that the land was bought in the 1600's when it was just swamp and pasture and was developed by the Duke of Westminsters ancestors into what it is today.
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And where did his ancestors get the money?
 
Dis86 said:
And where did his ancestors get the money?
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His Ancestors came over with William of Normandy. Hugh d'Avranches was given the title of 2nd Earl of Chester by William after the first Earl was captured in Battle. The title was declared vacant and handed to Hugh (the title Earl of Chester eventually ended up with the Crown and the current Earl is in fact HRH Prince Charles). The links between the Grosvenor family and the Royal Family go back generations.

They were given large swathes of Cheshire in return for the families assistance during the Invasion of England.

From what I gather the land in Belgravia was given as a Dowry by the Father of the Bride who married into the Grosvenor family. At the time the land was pretty swampy and poor quality. However as London grew it was drained and well the rest is History.

Very sad that the Duke has passed away. He did an awful lot for Charity, both Nationally and Locally and was a very down to earth chap. RIP
 
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He did very well. When he inherited it it was only worth one billion. He invested wisely.

Heard on the radio he owned 170,000 acres of land. That's a lot
 
Greebo said:
He did very well. When he inherited it it was only worth one billion. He invested wisely.

Heard on the radio he owned 170,000 acres of land. That's a lot
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You can check out the Grosvenor Estate annual reviee 2015 at

http://www.grosvenor.com/downloads/annual-report-archive/grosvenor-annual-review-2015/

He wasn't a typical Aristocrat - if you check out the facts and figures in the above report - they're astounding and I suspect responsible for the jobs of a lot of people.
 
Wow, that's impressive! £1bn to £9bn though not as good as Trump turning $1m into $10bn :p

I shudder and drool at owning that many acres anywhere let alone Mayfair and Belgravia!
 
Andy90 said:
His Ancestors came over with William of Normandy. Hugh d'Avranches was given the title of 2nd Earl of Chester by William after the first Earl was captured in Battle. The title was declared vacant and handed to Hugh (the title Earl of Chester eventually ended up with the Crown and the current Earl is in fact HRH Prince Charles). The links between the Grosvenor family and the Royal Family go back generations.

They were given large swathes of Cheshire in return for the families assistance during the Invasion of England.

From what I gather the land in Belgravia was given as a Dowry by the Father of the Bride who married into the Grosvenor family. At the time the land was pretty swampy and poor quality. However as London grew it was drained and well the rest is History.

Very sad that the Duke has passed away. He did an awful lot for Charity, both Nationally and Locally and was a very down to earth chap. RIP
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So...like I said, historical theft. The land was taken and given.
 
Freakbro said:
If I had that much money I'd have a coke and hookers problem as well

As it is, I can't afford enough to turn it into a problem :(
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Dunno, I have a coke and hookers problem and I'm completely broke.

The problem is that I can't afford coke and hookers.
 
Exorcise said:
Been watching some videos of the guy today, bar his addiction to hookers, he seemed a decent bloke
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being addicted to hookers is what made him a top bloke TBH, another normal guy who liked getting it on with prostitutes, whats not to like
 
doodah said:
not as good as Trump turning $1m
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He would be worth much more if he had simply invested his inheritance from his father in the stock market...

He isn't even a great businessman. Just highlights that you can appear and do anything if you have enough backing.
 
So his son is now worth £9bn? I can see the line of gold-diggers trying to get their claws into him causing traffic chaos in London. :D
 
Eurofighter said:
Gotta love Capitalism.
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What has this to do with Capitalism? I'm pretty sure both killing people and taking their stuff and also making sure you keep wealth amongst your heirs and relatives predate Capitalism. In fact, I'd say both those things are probably the earliest form of economic system we have.
 
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