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.