Bluff and bluster fails.

[Deleted member 317777]

Maybe you can explain it better than MBK can.

If Sir Keir had kept full ownership there would have been no IHT. If he had put it into a life interest trust, there would have been no IHT. There was simply no IHT advantage to doing it the way he is accused of doing it. Certainly not IHT. Which is why I originally asked if it might be about other taxes like CGT.

In a trust there’s no IHT on the first death, but there can be after the second death.

And it can be included in the estate allowance.

Or that’s how it reads.

 

[motorbiking]

Maybe you can explain it better than MBK can.

If Sir Keir had kept full ownership there would have been no IHT. If he had put it into a life interest trust, there would have been no IHT. There was simply no IHT advantage to doing it the way he is accused of doing it. Certainly not IHT. Which is why I originally asked if it might be about other taxes like CGT.

that isn't true.

Do you accept he claims he gifted it to his parents?
Do you accept he denies using a trust?

 

[MNW67]

that is the story running in the press.

Possibly so. But it wasn't what you originally wrote, which led to my simple question.

 

[MNW67]

In a trust there’s no IHT on the first death, but there can be after the second death.

And it can be included in the estate allowance.

Or that’s how it reads.

I will have a look at that!

 

[Deleted member 317777]

I will have a look at that!

That’s exactly how it works and why it’s an issue.

 

[MNW67]

that isn't true.

Do you accept he claims he gifted it to his parents?
Do you accept he denies using a trust?

You are asking different questions again.

 

[motorbiking]

Possibly so. But it wasn't what you originally wrote, which led to my simple question.

Its exactly what I wrote:

I. wonder why JohnD hasn't shared the story about the politician who dodged inheritance tax?

Access Restricted

www.telegraph.co.uk

Questions for Keir Starmer over field he put in trust

Seven acres that sold for almost £300,000 were in a legal structure that meant the land was excluded from his parents’ estate

www.thetimes.com

 

[Deleted member 317777]

I will have a look at that!

Let me know what you come up with please.

 

[motorbiking]

Let me know what you come up with please.

Our resident expert on Trusts, has to go and look it up.

 

[motorbiking]

You are asking different questions again.

I am trying to establish the common ground.

 

[MNW67]

Its exactly what I wrote:

No you didn't. You claimed he had "dodged" inheritance tax. All I have asked is for you to explain simply, in your own words, what you think he did to "dodge" inheritance tax.

 

[Deleted member 317777]

No you didn't. You claimed he had "dodged" inheritance tax. All I have asked is for you to explain simply, in your own words, what you think he did to "dodge" inheritance tax.

The news paper article claimed it really.

 

[motorbiking]

No you didn't. You claimed he had "dodged" inheritance tax. All I have asked is for you to explain simply, in your own words, what you think he did to "dodge" inheritance tax.

I've posted what I wrote - its there for anyone to read.

It's fairly obvious that starmer was concerned about the land tipping his parents estate in to IHT, which he wanted to avoid.

Somebody wants to avoid IHT, the OP is renowned for claiming tax avoidance is tax dodging. its that simple.

 

[MNW67]

Let me know what you come up with please.

This is getting very confusing. Let's go back to basics, first, to make sure we are talking about the same thing.

Sir Keir bought the field.
He wanted his parents to have use of the field during their lifetimes.
When they died, he wanted the field for himself.

Can we agree this is the starting point.

 

[Deleted member 317777]

I've posted what I wrote - its there for anyone to read.

It's fairly obvious that starmer was concerned about the land tipping his parents estate in to IHT, which he wanted to avoid.

Somebody wants to avoid IHT, the OP is renowned for claiming tax avoidance is tax dodging. its that simple.

@MNW67 Mentioning a life interest trust actually proved you right!

The irony is brilliant