Why should we have to pay inheritance tax?
- Thread starter Richdog
- Start date
Probably wiser. Not sure you can just put the house in the name of your children - you then are in the odd situation of living in a house you don't own. You have to pay rent, iirc.Bunka said:I take it they trust you then...
My parents are doing a similar thing, but with a trust fund, so we all technically own the house etc. when they die, both my brother and I still technically own the place ourselves, just two trustees aren't members anymore.
gurdas said:This tax is one of the reasons why my parents houses and businesses are going to be transferred into my name, well they will be before i'm 25 anyway
My parents have done the same thing, every asset is joint. They have propertys floating around worth around the £1m mark, and there no way in hell they are going to let gordon brown steal £400,000 of it.
I cant believe this tax is still around, its an absolute disgrace. They know this, but are taking their sweet time before they abolish it. Greedy scum.
Well im totaly working class and dont/wont have any wherenear that much money tied up when im dead so i couldnt give a rats.
To the people it does effect, most are clued up enougth to avoid most if not all of it by whatever means.
To those that have multiple millions worth of estate, tax them dry and tax their graves too.
To the people it does effect, most are clued up enougth to avoid most if not all of it by whatever means.
To those that have multiple millions worth of estate, tax them dry and tax their graves too.
My parents will get stiffed or I will when they die. We have had a family busines now since about 1976 which is still going strong, my sister and I now own it now. My parents bought some land when I was 11 for about 40k in a corner of that land the built a bungalow on the cheap. That bunglaw and with what land they had left (sold most of it for 90k) is now worth about 350k perhaps 400k. The way my mum and dad feels about IHT is that they would rather burn it that give it to good old gordon.
Efour2 said:Well im totaly working class and dont/wont have any wherenear that much money tied up when im dead so i couldnt give a rats.
To the people it does effect, most are clued up enougth to avoid most if not all of it by whatever means.
To those that have multiple millions worth of estate, tax them dry and tax their graves too.
So just because some have more than you, you are of the opinion '**** em?'. Thats very civilised of you.
Nobody here is talking about multi-million pound estates. We are talking about common every day hard working people.
for some people its different,Von Luck said:
you get the big cushty handout, work your whole life and bingo, your kids get a cushty handout too,
And when you "leave home" your look after your parents not parens look after themselves.
gurdas said:
I believe the whole concept of the tax is redistribution of wealth. I accept that there is a need for this and a level should be in place to address it, however the problem today is that level is so low its affecting normal everyday people.
Also, the royal family is immune to this tax.Richdog said:Just watched the news, and there was an article about a labour MP wanting inheritance tax abolished. I think this would be severely welcomed... obviously it's lucrative for the government, bringing approximately 3-6bn to their coffers each year... but why the hell should I have to just hand over a whopping 40% of the money that my father or mother have laboured their entire lives to leave me? In my opinion it's one of the biggest frauds ever conceived, and thinking that I will one day have to pay it makes my blood boil.
Has anyone suffered this yet? Got any tips for legally minimising the eventual damage this will cause me?
gurdas said:
Because it simply isn’t fair. Why should one person be given a better chance in life because of what preceded them. Why should one man be punished because his father was a dustman not an accountant? Why should a child go hungry because his parents worked as teachers.
I do understand what you are saying. I am far far more right wing than the socialist left. However if you allow people to horde wealth and keep it for themselves you would be neglecting a large proportion of society. If somebody has amassed a considerable wealth despite the heavy taxation then clearly extra steps need to be taken to redistribute it.