Inheritance tax.

[Deleted member 317777]

Not sure I agree with those figures.

It’s £325k per adult and if married it’s then £650k - and if the principle home can add £175 per adult - which makes £1 million And that can ONLY pass directly DOWN the blood line, not across it or to friends

But anything you leave over a million, you’re happy the government gets 40% of?

That’s a shocking attitude, people with millions know better.

 

[Murdochcat]

But anything you leave over a million, you’re happy the government gets 40% of?

Not unhappy about it seeing as most of it has come about from the appreciating asset called our home, on which no tax has been paid

That’s a shocking attitude, people with millions know better.

Anybody can take decisions about legal ways to reduce IHT - its up to the individuals

 

[Deleted member 317777]

Not unhappy about it seeing as most of it has come about from the appreciating asset called our home, on which no tax has been paid

That’s a terrible attitude to take.

Your homes gone up, well done. Why does the government benefit when you die ?

There’s no need for us to debate.

 

[Brigadier]

Your homes gone up, well done. Why does the government benefit when you die ?

Why do our homes generally appreciate in value, even when we don't do much / anything to them?

 

[Deleted member 317777]

Why do our homes generally appreciate in value, even when we don't do much / anything to them?

Appreciation, supply/demand

But we shouldn’t have to pay 40% over a million!

Unless you think otherwise ?

 

[Brigadier]

, supply/demand

And what determines that, in the UK?

 

[Deleted member 317777]

And what determines that, in the UK?

Are you trying to suggest the 40% goes to building new houses and we should be oh so grateful that we have to pay it ?

 

[Murdochcat]

That’s a terrible attitude to take.

Disagree

Your homes gone up, well done. Why does the government benefit when you die ?

Because we all need to contribute to the taxes for the good of the country

There’s no need for us to debate.

Yup . I’m morally right, you’re wrong

 

[MNW67]

Because we all need to contribute to the taxes for the good of the country

It's just a question of who to tax. I think 40% is a bit high. I would prefer a scale starting at 25%.

 

[Deleted member 317777]

Anybody can take decisions about legal ways to reduce IHT - its up to the individuals

Yup . I’m morally right, you’re wrong

I’d check your moral compass!!

 

[JohnD]

...someone has told him....

He'd get more reliable information from

Inheritance Tax - GOV.UK

Includes valuing an estate, trusts and taxes

www.gov.uk

 

[Ihavenojob]

And what determines that, in the UK?

Too many people.

 

[Brigadier]

Are you trying to suggest the 40% goes to building new houses and we should be oh so grateful that we have to pay it ?

No.

I'm "suggesting" that house prices appreciate at the rates they do largely through the actions (and inactions) of the government.

That some become millionaires - on paper - is mainly due to conditions in the UK, and not their graft.
The conditions being largely attributable to the governments who have held office.

 

[Deleted member 317777]

No.

I'm "suggesting" that house prices appreciate at the rates they do largely through the actions (and inactions) of the government.

That some become millionaires - on paper - is mainly due to conditions in the UK, and not their graft.
The conditions being largely attributable to the governments who have held office.

I don’t necessarily disagree, but 40% IHT still isn’t acceptable.

Most people paying well into the 40% bracket are just being taxed for their success.

 

[Brigadier]

I don’t necessarily disagree, but 40% IHT still isn’t acceptable.

Most people paying well into the 40% bracket are just being taxed for their success.

What one sees as "success", another sees as a result of good fortune and circumstance.

I'm paying well into that bracket, and that is on salary.
Quite reasonably, that could be seen as being down to my "success".

I've never had a penny from any inheritance or gift, so I've not paid any IHT.

If I had received any inheritance or gift, I wouldn't see that as being in any way attributable to "my success".