The Conservative Party

[denislawsbackheel]

You pay 40% on anything inherited over £325k. So how you getting 4%?

The majority of folk have a house worth more than that....

I'm not against inheritance tax, but it should be over a higher amount.

A dick who doesn’t even know the IHT rules!

 

[denislawsbackheel]

There’s an additional nil rate band for primary residence of £175,000 and if it’s a couple where the second person has just died the first persons allowance is added, so in most cases it’s actually £825,000 before any IHT is paid. And that was in 2021 and the nil rate band is supposed to be linked to CPI so it should be more than that.

It’s a million not £825K.
It’s 2 x £175K added for a couple leaving property to immediate family.

 

[denislawsbackheel]

Yeh. I've just posted above my Grandad died a few months back and his house is worth £700k and with his savings and stuff he has about 800k. My Dad and Aunt thought they would have to pay tax on anything over 325 but the solicitors have told them due to my Gran dying a few years earlier the threshold is higher.

Imagine working yourself to the bone then dying and the government taking yet more tax.

The govt don’t take a penny off them.
They’re dead.
They take it off the inheritors.
Why shouldn’t everything after a tax free inheritance of £1,000,000 be taxed?

 

[Brewster's millions]

The govt don’t take a penny off them.
They’re dead.
They take it off the inheritors.
Why shouldn’t everything after a tax free inheritance of £1,000,000 be taxed?

Because tax has already been paid on the earnings used to buy the house and build the savings.

 

[bluethrunthru]

Stupid - deluded or manipulative?

 

[TinFoilHat]

Stupid - deluded or manipulative?

This is the best we have leading the country?

We are well and truly fucked.

 

[west didsblue]

Because tax has already been paid on the earnings used to buy the house and build the savings.

Only on the purchase price of the property and not the current valuation.

Using your daft argument, anything purchased with taxed earnings should be exempt from further tax. No more VAT for example.

 

[blueparrot]

Because tax has already been paid on the earnings used to buy the house and build the savings.

Not by the person inheriting, the person that pays the tax on their unearned inheritance.

 

[denislawsbackheel]

Because tax has already been paid on the earnings used to buy the house and build the savings.

FFS!
Inane.

 

[Nethermoor]

Because it shouldn't if it is left to family....

Doesn't matter who pays the tax, it's a joke. Grandad would have been fuming if he thought my Dad/Aunt had to pay all that to the government.

 

[Nethermoor]

The govt don’t take a penny off them.
They’re dead.
They take it off the inheritors.
Why shouldn’t everything after a tax free inheritance of £1,000,000 be taxed?

But it's still the same family.

I'd be fuming if i'd saved for years then I die and my family lose 40% of what I earned? They're entitled to it not the government.

Your argument is poor mate.

As it happens my Dad/Aunt will pay 0 tax. They've both themselves worked for years, my dad literally worked his knees to the bone. He can enjoy his retirement and treat himself.

Which is how it should be, one day my daughter gets what's mine. I would hate it if she lost half of MY money/belongings to tax.

 

[BayernMan]

 

[Bodicoteblue]

This is the best we have leading the country?

We are well and truly fucked.

And this staggering incompetent will live royally for the rest of her wretched existence on govt. pensions and huge job offers on the back of being a member of the worst shower of devious, sleazy, corrupt cretins ever seen in the history of British politics.

 

[BayernMan]

 

[Brewster's millions]

Only on the purchase price of the property and not the current valuation.

Using your daft argument, anything purchased with taxed earnings should be exempt from further tax. No more VAT for example.

You’re wrong, on a number of levels.

Firstly, the primary residence has always been treated differently from a tax perspective - the most obvious example being the lack of capital gains tax applied to any price appreciation recorded between sales. It’s a family’s shelter, and most families either have no choice but to own a house, or would not want to sell their house for tax purposes as they would only have to rely on others or the government to provide accommodation. That’s why the distinction between purchase price and current valuation is essentially irrelevant for the primary residence when it comes to tax.

Your other point about VAT is also irrelevant to the debate as for the most part VAT is applied to discretionary purchases, something which housing / shelter certainly isn’t.

 

[Brewster's millions]

FFS!
Inane.

You seem quite angry.

 

[denislawsbackheel]

Not when the owner is dead and it becomes unearned income for others.
Anyway you are pissing round the edges.
These IHT changes being mooted are to ensure the snivelling venal Tories can do one last cut and burn policy to protect their vast fortunes.
It will have no effect on the vast majority of the population.

 

[denislawsbackheel]

You seem quite angry.

I do reading self absorbed cunts like the poster and yourself.

 

[Brewster's millions]

But it's still the same family.

I'd be fuming if i'd saved for years then I die and my family lose 40% of what I earned? They're entitled to it not the government.

Your argument is poor mate.

As it happens my Dad/Aunt will pay 0 tax. They've both themselves worked for years, my dad literally worked his knees to the bone. He can enjoy his retirement and treat himself.

Which is how it should be, one day my daughter gets what's mine. I would hate it if she lost half of MY money/belongings to tax.

This is it in a nutshell.

People work hard, make sacrifices, do the right thing and they should get to decide who gets the inheritance, not the state.

 

[Brewster's millions]

I do reading self absorbed cunts like the poster and yourself.

You come across as a well-adjusted individual, calling people c**ts because you disagree with them on the issue of inheritance tax.