Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Nov 20, 2023 19:15:18 GMT
What is it you do not understand?
£325,000
In the current tax year, 2023/24, no inheritance tax is due on the first £325,000 of an estate, with 40% normally being charged on any amount above that. However, what is charged will be less if you leave behind your home to your direct descendants, such as children or grandchildren.
Where is this vast amount of 'poor pensioner's' you speak of? They are mostly the ones who dont own any property, obviously. |
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Nov 20, 2023 19:18:44 GMT
Gordon Brown's pension raids and massively high property pricing under NuLabour obviously helped.
|
|
|
|
Post by The Squeezed Middle on Nov 20, 2023 19:37:33 GMT
Yes, Labours alleged improvements to the NHS are often trotted out. It's just a shame that they didn't appear in the real world. But they did and ae on record for all to see. So you claim.
However, back in Labour's "Golden years" the waiting list was so long that I had to pay to go private in order to get treated in a timely fashion.
The NHS faffed about for a year, then I went private and had my operation within weeks.
Labour's NHS. Pfffftt.
|
|
|
|
Post by The Squeezed Middle on Nov 20, 2023 19:41:16 GMT
Inheritance tax should be cut if not abolished. Our threshold is way below much of Europe, let alone the US and hasn't kept pace with inflation. As ever, it's a tax on the poor since the rich have numerous ways to avoid it. Well thats a silly comment for a start. The poor do not have half a million quid hanging around, even in the form of bricks and mortar. Only the wealthiest few percent have enough to be liable for it as it stands. And cut in inheritance will benefit only the relatively rich. Au Contraire, Shrieks.
When IHT was introduced only the top few percent of estates attracted it but nowadays the average house price is perilously close to the IHT threshold. Indeed in London the average house price is now more than double the IHT threshold.
It's a bit of a stretch to describe granny, who bought her ex council house 40 years ago, as "Rich".
|
|
|
|
Post by zanygame on Nov 20, 2023 20:29:53 GMT
But they did and ae on record for all to see. So you claim.
However, back in Labour's "Golden years" the waiting list was so long that I had to pay to go private in order to get treated in a timely fashion.
The NHS faffed about for a year, then I went private and had my operation within weeks.
Labour's NHS. Pfffftt.
Anecdotal beats real numbers every time. Sigh |
|
|
|
Post by The Squeezed Middle on Nov 20, 2023 20:57:46 GMT
So you claim.
However, back in Labour's "Golden years" the waiting list was so long that I had to pay to go private in order to get treated in a timely fashion.
The NHS faffed about for a year, then I went private and had my operation within weeks.
Labour's NHS. Pfffftt.
Anecdotal beats real numbers every time. Sigh Yep.
There's lies, damn lies and statistics.
And then there's real life experience. And, of course, always some dickhead popping up to tell you that what just happened didn't just happen.
|
|
|
|
Post by Red Rackham on Nov 20, 2023 21:09:11 GMT
Apologies for butting in, just thought I'd mention this. My sister-in-law has had two hospital procedures within the last six months. Nothing life threatening but important to her. Both procedures or minor operations were carried out at private hospitals and paid for by the NHS. I expect this is routine up and down the country.
|
|
|
|
Post by Pacifico on Nov 20, 2023 22:24:56 GMT
what has that to do with Labours management of the NHS? about the same as my visit to wales. so as a visitor to Wales would you say the NHS in Wales (controlled by the Labour Party) is significantly better than the NHS in England (controlled by the Tories). If not, why are you so confident of improvement? Please stop avoiding the question. |
|
|
|
Post by Pacifico on Nov 20, 2023 22:28:02 GMT
So you claim.
However, back in Labour's "Golden years" the waiting list was so long that I had to pay to go private in order to get treated in a timely fashion.
The NHS faffed about for a year, then I went private and had my operation within weeks.
Labour's NHS. Pfffftt.
Anecdotal beats real numbers every time. Sigh Quite correct - my problems getting treated under the NHS when Labour were in power were purely anecdotal - the reality was that the service was above reproach. Just out of interest what experience did you have of the NHS when Labour were in power? |
|
|
|
Post by johnofgwent on Nov 20, 2023 23:32:46 GMT
It’s the rules. Let me see if you understand it. Alfred and Bella were married with two kids Charlotte and David. Bella sadly died leaving her assets to her husband. Alfred dies leaving his home worth £400k and other assets of £400k to his kids. How much tax will Charlotte and David pay on Alfred’s estate Same circumstances but house is now worth £800k. How much tax is due now? There is no inheritance tax due on a bequest to a spouse You only get slapped when you try to give your kids a better start in life And good luck evading the tax if you bought a home as a young man in the seventies or eighties as i did. Unless of course you are an indian. Line Sunak’s Missus. Then you can take advantage of a dodgy treaty your husband should have ripped up, but didn’t because he knew if he did she’d have to pay a £230 million bill and would then divorce him I’d be a but careful relying on that £800k by the way. There’s a minefield of gotchas waiting to blow your leg off…. |
|
|
|
Post by dappy on Nov 20, 2023 23:52:42 GMT
Absolutely no tax on a bequest to a spouse.
If you are the second of a married couple to die leaving your assets to your kids or grandkids, then inheritance tax is only payable if your assets are over £1m.
Whether you bought your house in the 70s or a few years ago makes no difference.
For a man dying at a now typical 80 , it is likely that his kids will be in their 40s or 50s so hardly giving them “a start in life”.
Assuming two kids and an estate of £1.2m each child will inherit £560k having paid IHT of £40k.
Only on estates of over £2m does the IHT on the whole estate reach even 20% of the total value of the estate - at which point each of the two children will have inherited £800k each.
|
|
|
|
Post by borchester on Nov 21, 2023 0:18:35 GMT
Yes - we have around 12pc of the working-age population on out-of-work benefits. Meanwhile, there are still around a million vacancies, with many sectors suffering from acute worker shortages. The generous welfare system means that for many work does not pay. What percentage of those are capable of working? How many ill? How many waiting on our destroyed NHS? How many only just lost their previous employment? Claiming them all as evidence that benefits inspire laziness is appallingly lazy maths. Good question.
If benefits are cut and it becomes a choice between sitting on ones arse and starvation, then I imagine that a considerable percentage would suddenly find themselves able to enter the workforce.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Nov 21, 2023 0:23:33 GMT
Well thats a silly comment for a start. The poor do not have half a million quid hanging around, even in the form of bricks and mortar. Only the wealthiest few percent have enough to be liable for it as it stands. And cut in inheritance will benefit only the relatively rich. Au Contraire, Shrieks.
When IHT was introduced only the top few percent of estates attracted it but nowadays the average house price is perilously close to the IHT threshold. Indeed in London the average house price is now more than double the IHT threshold.
It's a bit of a stretch to describe granny, who bought her ex council house 40 years ago, as "Rich".
Well as I have pointed out anyone who is married and who passes their estate on to their kids or grand kids is not liable for inheritance tax on the first £1million. Most people have to be pretty close to the richest few percent to have an estate worth more than that. |
|
|
|
Post by zanygame on Nov 21, 2023 7:57:01 GMT
Apologies for butting in, just thought I'd mention this. My sister-in-law has had two hospital procedures within the last six months. Nothing life threatening but important to her. Both procedures or minor operations were carried out at private hospitals and paid for by the NHS. I expect this is routine up and down the country. My brothers wife has been waiting for a knee op for 14 months now. Another friend 16 months for a hip replacement. Our friends at Adenbrookes talk about 52 weekers being the target for surgery. Anecdotes if you wish. |
|
|
|
Post by zanygame on Nov 21, 2023 7:59:54 GMT
What percentage of those are capable of working? How many ill? How many waiting on our destroyed NHS? How many only just lost their previous employment? Claiming them all as evidence that benefits inspire laziness is appallingly lazy maths. Good question.
If benefits are cut and it becomes a choice between sitting on ones arse and starvation, then I imagine that a considerable percentage would suddenly find themselves able to enter the workforce.
A considerable percentage. That about sums up your efforts to learn. |
|
