If you'r thinking of Dying soon, then...

  Grey Goo 12:02 30 Nov 2009
Locked

....make sure your IHT planning is up to date. That great Scottish Double act McStingy and Clown may be planning another heist.
click here

  spuds 12:23 30 Nov 2009

When a country is up to its neck in debt, what do you expect.

People who were perhaps giving a sigh of relieve a short time ago, might now have to think differently.

Even though the appearance of world finance as smoothed over these past few weeks, it is only a smoke screen, because things are still in dire need, and I think Dubia and Iceland are perhaps typical examples.

  kidsis 13:30 30 Nov 2009

All morning I have been laughing hysterically at the thought that immigrants to this country are allegedly being housed in millionaire's row, while people who have worked hard all their lives to pay for their (modest) homes discover that on their deaths the house has to be sold for IHT. Oh sorry it wasn't hysterical laughter, I was sobbing.

  jack 14:16 30 Nov 2009

As we all know very well.
The actuality for the winners is always very different - usually for the worse.
Its like 'Sale' & Final Reductions signs
Who in their right mind takes notice of them any more?

OK- plenty do, do I hear you say?

  ened 14:36 30 Nov 2009

Inheritance Tax is a tax of envy and should be abolished.

The very, very rich find ways around it and it is starting to affect more and more ordinary people. There were two elderly sisters in the press recently and when one of them dies this tax is going to force the other to sell the home they have shared foe eighty odd years.

Many taxes are unfair but what is especially grating about IHT is that you are being taxed on everything you have already been taxed already for.

  Mr Mistoffelees 15:29 30 Nov 2009

Anyone who is fortunate enough to inherit assets worth more than £325,000 should consider themselves damn lucky and stop whinging about having to pay tax.

  ened 15:40 30 Nov 2009

What do you have to say if the majority if the value of the estate consists of the family home? Very often the only way to raise the money for the tax is by selling the home - like the elderly sisters I mentioned above.

  Pine Man 16:51 30 Nov 2009

The country has a budget, which is paid for by income from taxation etc.

If IHT were to be removed or reduced a the 'better off' proportion of the country who are liable for it would be even better off and the shortfall created by the loss of IHT in the budget would probably have to be made up by ALL taxpayers, including those who would NOT have been liable for IHT in the first place.

  natdoor 17:03 30 Nov 2009

We will have to wait and see what the actual outcome is. But I believe that the transfer of unused relief will continueto apply, making the relief equal to £650,000 at present.

The situation of the elderly sisters is indeed sad. However, some simple legal measures taken at the right time could have resolved the situation, I believe.

  Forum Editor 17:31 30 Nov 2009

and should be abolished"

Of course it is, and of course it should, but there are lots of people who will never agree. They're the ones who think that anyone who has more than they have in material terms should consider himself/herself incredibly lucky, and shouldn't complain about being taxed heavily on something that already been taxed.

The truth about life is that there are those who, for whatever reason will earn more, make more, or inherit more, it has always been that way and always will be. It's time we got rid of this attitude that there's something inherently wrong about having a big house, or lots of money, and that you ought to be penalised for it.

  ened 17:33 30 Nov 2009

On the subject of the sisters: the last I heard they had taken their case to the European Court and lost.

The problem being there is a gap in the law for their particular situation.

Pine Man Taxation needn't be so high - This present shower have squandered so much that we are now getting less for more. Whoever has to make up the difference, are you saying it is right that people should have to pay tax twice for the same income?

This thread is now locked and can not be replied to.

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