|
|
Post by see2 on Jan 2, 2024 9:36:20 GMT
Trickle down was always a Righty lie. Making the rich richer has always been an unspoken moto of the Tories. considering that nobody advocated it they could hardly lie... It was heavily insinuated by those grabbing all the money, it was an insinuated lie used to fool people and to be used by, the easily led. And it worked for while. |
|
|
|
Post by see2 on Jan 2, 2024 9:40:00 GMT
It is imposable to tax a dead person. Tax is imposed on an individuals income. Nothing extra coming in then no extra tax. The "clown" obviously exists between your ears. There's a saying you'd do well to heed ''When in a hole , stop digging '' As usual you are wrong in fact and the legal position of IHT I don't take advice from immature fools ^^^ |
|
|
|
Post by see2 on Jan 2, 2024 9:55:22 GMT
Income determines the level of tax paid, IHT is on unearned income so it is rightly taxed. I don't think, not sure, if I quite come into the IHT bracket but I do have two large Bank accounts plus a substantial property, my kids have insisted that I spend their inheritance. Those fortunate enough to inherit large amounts of money receive it without earning it, IMO they should be very very grateful for their good fortune. For the 3rd time in a few posts you confirm your ignorance and utter stupidity Income of the inheritor has fuck all to do with IHT IHT is paid by the executor of the estate If you are talking Tax Levels then income has already been addressed and assessed at 40%, that being the top level of taxation. |
|
|
|
Post by Fairsociety on Jan 2, 2024 9:56:02 GMT
There's a saying you'd do well to heed ''When in a hole , stop digging '' As usual you are wrong in fact and the legal position of IHT I don't take advice from immature fools ^^^ Don't know why you're worried anyway, there'll be nowt left for your inheriter's to fight over, not by the time that nursing home guzzles up all your savings and assets. |
|
|
|
Post by see2 on Jan 2, 2024 9:59:45 GMT
I don't take advice from immature fools ^^^ Don't know why you're worried anyway, there'll be nowt left for your inheriter's to fight over, not by the time that nursing home guzzles up all your savings and assets. I have previously posted that my kids tell me to spend their inheritance. |
|
|
|
Post by Pacifico on Jan 2, 2024 11:29:33 GMT
considering that nobody advocated it they could hardly lie... It was heavily insinuated by those grabbing all the money, it was an insinuated lie used to fool people and to be used by, the easily led. And it worked for while. obviously the only people who were led were those that believed it existed... are you now embarrassed for being so foolish? |
|
|
|
Post by ratcliff on Jan 2, 2024 12:14:03 GMT
You continue to prove your complete ignorance, stupidity and ongoing politics of envy The beneficiary does NOT pay IHT IHT is paid by the estate of the deceased , by the executors and must be paid within 6 months of probate being granted irrespective of whether or not the executor has sufficient liquid assets in the estate to pay the death tax. If there are insufficient liquid funds in the estate by the relevant deadline the executor may have to take out a personal loan to pay HMRC. Only after probate and satisfaction of all tax liabilities can a distribution to beneficiaries be made And before you come out with one of your standard uber lefty , pseudo smartarsed ' I'm so clever' retorts that the executors should have ensured that there was sufficient liquidity in the estate , just think if there is property comprising a large % of the estate. If the executor is a relative , they have to deal with grief , probate , getting the property ready to market , marketing it , liaising with agents re viewings , negotiating with any buyers, dealing with legalities of conveyancing through to completion and finally paying HMRC ( then dealing with HMrC if there is a disparity between probate value assigned and sale price. It's a very tough ,often nigh on impossible task within 6 months You continually prove you have a biased immature block in what little brains you do have. IHT is paid by the estate but the reason it is paid is because money passed on will be become unearned income to the inheritor. The inherited money passed on becomes free of Tax because the tax has already been paid. Why do you think it is called Inheritance Tax? I suggest you shove your typically silly "pseudo smartarsed ' I'm so clever' ridiculous Righty biased comments as far up as you can get them. Nevertheless, I have cleared up one uncertainty which is that IHT is based upon the total value of the estate. You have wrongly posted as fact Errrr, Inheritance tax is paid by the inheritor, how simple does it have to get for you to understand? And before you are exposed as having to revert to an irrelevant insinuating slurring comment?
( plus the same deliberate lie twice more including that it is at a rate dependant on the beneficiary's own tax rate despite being corrected by more than one poster) No it is not and never has been And still you continue to post your b**llocks, A beneficiary does not receive a bequest ''tax free'' unless the total estate is valued below the IHT allowance (£325000 pp with a few restricted higher limits for property left to direct descendants) Otherwise bequests are received ''tax paid'' once probate has been granted and tax due paid within 6 month I'm only surprised that someone who professes to boast about having a ''secret'' so called professional qualification doesn't check their facts before going near a keyboard. i can only hope this secret professional qualification does not involve giving any type of advice (especially financial) As I posted earlier you should take the advice in the saying ''when in a hole stop digging'' There's another specifically for the terminally thick ''It is better to be thought a fool rather than to open your mouth and confirm it'' |
|
|
|
Post by johnofgwent on Jan 2, 2024 14:52:30 GMT
Errrr, Inheritance tax is paid by the inheritor, how simple does it have to get for you to understand? And before you are exposed as having to revert to an irrelevant insinuating slurring comment? You continue to prove your complete ignorance, stupidity and ongoing politics of envy The beneficiary does NOT pay IHT IHT is paid by the estate of the deceased , by the executors and must be paid within 6 months of probate being granted irrespective of whether or not the executor has sufficient liquid assets in the estate to pay the death tax. If there are insufficient liquid funds in the estate by the relevant deadline the executor may have to take out a personal loan to pay HMRC. Only after probate and satisfaction of all tax liabilities can a distribution to beneficiaries be made And before you come out with one of your standard uber lefty , pseudo smartarsed ' I'm so clever' retorts that the executors should have ensured that there was sufficient liquidity in the estate , just think if there is property comprising a large % of the estate. If the executor is a relative , they have to deal with grief , probate , getting the property ready to market , marketing it , liaising with agents re viewings , negotiating with any buyers, dealing with legalities of conveyancing through to completion and finally paying HMRC ( then dealing with HMrC if there is a disparity between probate value assigned and sale price. It's a very tough ,often nigh on impossible task within 6 months See, i’m guessing you’ve done this yourself or someone you know well has … because thanks to this society’s covering up death these days hardly anyone outside the death industry knows this until they find themselves on the receiving end As a way to suspend the grief of close bereavement it works well. But by god you wait until that emotional payload you’ve dodged to sort this shit out hits. Which it will. Took almost a decade in my case. My ancestors thought tax men and revenue men were best strung on a rope. After dealing with the Probate Office i can see why. As things turned out the house proceeds after mum died were a lot less than the IHT threshold and her personal assets were next to nothing because provisions in dad’s will ensured the bulk of his cash was shared out between her and us after he went and his ibm pension was one of the old style which mum still got a healthy monthly income after he died, it wasn't a fund … But the HMRC (****s) (bastards isn’t string enough so fill the asterisks in yourself) were fucking salivating when they first assessed the house because their valuation which we took to court to challenge said it WAS They didn’t realise one of my wife's MANY posts while a civil servant included a spell in the effing valuation office so we knew how to play them at their game and win. Scum. Utter Scum the lot of them. First up against the wall. |
|
|
|
Post by ratcliff on Jan 2, 2024 15:14:00 GMT
You continue to prove your complete ignorance, stupidity and ongoing politics of envy The beneficiary does NOT pay IHT IHT is paid by the estate of the deceased , by the executors and must be paid within 6 months of probate being granted irrespective of whether or not the executor has sufficient liquid assets in the estate to pay the death tax. If there are insufficient liquid funds in the estate by the relevant deadline the executor may have to take out a personal loan to pay HMRC. Only after probate and satisfaction of all tax liabilities can a distribution to beneficiaries be made And before you come out with one of your standard uber lefty , pseudo smartarsed ' I'm so clever' retorts that the executors should have ensured that there was sufficient liquidity in the estate , just think if there is property comprising a large % of the estate. If the executor is a relative , they have to deal with grief , probate , getting the property ready to market , marketing it , liaising with agents re viewings , negotiating with any buyers, dealing with legalities of conveyancing through to completion and finally paying HMRC ( then dealing with HMrC if there is a disparity between probate value assigned and sale price. It's a very tough ,often nigh on impossible task within 6 months See, i’m guessing you’ve done this yourself or someone you know well has … because thanks to this society’s covering up death these days hardly anyone outside the death industry knows this until they find themselves on the receiving end As a way to suspend the grief of close bereavement it works well. But by god you wait until that emotional payload you’ve dodged to sort this shit out hits. Which it will. Took almost a decade in my case. My ancestors thought tax men and revenue men were best strung on a rope. After dealing with the Probate Office i can see why. As things turned out the house proceeds after mum died were a lot less than the IHT threshold and her personal assets were next to nothing because provisions in dad’s will ensured the bulk of his cash was shared out between her and us after he went and his ibm pension was one of the old style which mum still got a healthy monthly income after he died, it wasn't a fund … But the HMRC (****s) (bastards isn’t string enough so fill the asterisks in yourself) were fucking salivating when they first assessed the house because their valuation which we took to court to challenge said it WAS They didn’t realise one of my wife's MANY posts while a civil servant included a spell in the effing valuation office so we knew how to play them at their game and win. Scum. Utter Scum the lot of them. First up against the wall. yes , I've done it twice and HMRC are scum , I've a friend currently going through applying for probate in a falling property market so tax must be paid and an application for tax reclaim made when the house is eventually sold When these lefty imbeciles cheer in their green eyes that any bequest is undeserved , unearned ''income'' they deliberately ignore that probate involves taking mum's/aunt's/sister's/dad's favourite gold earrings/ring to 2/3 jewellers for an inhumane cold valuation to add their ''value '' to the probate assessment |
|
|
|
Post by see2 on Jan 2, 2024 17:44:31 GMT
It was heavily insinuated by those grabbing all the money, it was an insinuated lie used to fool people and to be used by, the easily led. And it worked for while. obviously the only people who were led were those that believed it existed... are you now embarrassed for being so foolish? So the idea of trickle down never even existed LOL |
|
|
|
Post by johnofgwent on Jan 2, 2024 17:47:13 GMT
See, i’m guessing you’ve done this yourself or someone you know well has … because thanks to this society’s covering up death these days hardly anyone outside the death industry knows this until they find themselves on the receiving end As a way to suspend the grief of close bereavement it works well. But by god you wait until that emotional payload you’ve dodged to sort this shit out hits. Which it will. Took almost a decade in my case. My ancestors thought tax men and revenue men were best strung on a rope. After dealing with the Probate Office i can see why. As things turned out the house proceeds after mum died were a lot less than the IHT threshold and her personal assets were next to nothing because provisions in dad’s will ensured the bulk of his cash was shared out between her and us after he went and his ibm pension was one of the old style which mum still got a healthy monthly income after he died, it wasn't a fund … But the HMRC (****s) (bastards isn’t string enough so fill the asterisks in yourself) were fucking salivating when they first assessed the house because their valuation which we took to court to challenge said it WAS They didn’t realise one of my wife's MANY posts while a civil servant included a spell in the effing valuation office so we knew how to play them at their game and win. Scum. Utter Scum the lot of them. First up against the wall. yes , I've done it twice and HMRC are scum , I've a friend currently going through applying for probate in a falling property market so tax must be paid and an application for tax reclaim made when the house is eventually sold When these lefty imbeciles cheer in their green eyes that any bequest is undeserved , unearned ''income'' they deliberately ignore that probate involves taking mum's/aunt's/sister's/dad's favourite gold earrings/ring to 2/3 jewellers for an inhumane cold valuation to add their ''value '' to the probate assessment Yeah. Jeez don't i know it. I wasn’t kidding about the workload messing with you. I had too much if this to worry about when dad went. It was almost a decade later, round about this time of year, i was clearing out the junk and came across my old manual portable typewriter i used to type up my thesis. I was going to have a laugh showing grand daughter what we had to use in the old days … but the carriage was jammed. Dad started at IBM working on the electric typewriters pre-golfball. So of course he’d kept it going for me. And now he wasn’t here to do that and i was screwed. I wasn’t of course. I’d actually done enough mechanical shit, mostly with him over the years and of course i worked it out. But what scared me was how helpless i felt when it hit, and then what scared me more was it took nearly a decade. |
|
|
|
Post by Pacifico on Jan 2, 2024 18:06:06 GMT
obviously the only people who were led were those that believed it existed... are you now embarrassed for being so foolish? So the idea of trickle down never even existed LOL So who advocated it as a policy? - or is this just something you were told by the Guardian or Mirror and were too trusting/gullible to ever check? |
|
|
|
Post by see2 on Jan 2, 2024 20:51:20 GMT
You continue to prove your complete ignorance, stupidity and ongoing politics of envy The beneficiary does NOT pay IHT IHT is paid by the estate of the deceased , by the executors and must be paid within 6 months of probate being granted irrespective of whether or not the executor has sufficient liquid assets in the estate to pay the death tax. If there are insufficient liquid funds in the estate by the relevant deadline the executor may have to take out a personal loan to pay HMRC. Only after probate and satisfaction of all tax liabilities can a distribution to beneficiaries be made And before you come out with one of your standard uber lefty , pseudo smartarsed ' I'm so clever' retorts that the executors should have ensured that there was sufficient liquidity in the estate , just think if there is property comprising a large % of the estate. If the executor is a relative , they have to deal with grief , probate , getting the property ready to market , marketing it , liaising with agents re viewings , negotiating with any buyers, dealing with legalities of conveyancing through to completion and finally paying HMRC ( then dealing with HMrC if there is a disparity between probate value assigned and sale price. It's a very tough ,often nigh on impossible task within 6 months See, i’m guessing you’ve done this yourself or someone you know well has … because thanks to this society’s covering up death these days hardly anyone outside the death industry knows this until they find themselves on the receiving end As a way to suspend the grief of close bereavement it works well. But by god you wait until that emotional payload you’ve dodged to sort this shit out hits. Which it will. Took almost a decade in my case. My ancestors thought tax men and revenue men were best strung on a rope. After dealing with the Probate Office i can see why. As things turned out the house proceeds after mum died were a lot less than the IHT threshold and her personal assets were next to nothing because provisions in dad’s will ensured the bulk of his cash was shared out between her and us after he went and his ibm pension was one of the old style which mum still got a healthy monthly income after he died, it wasn't a fund … But the HMRC (****s) (bastards isn’t string enough so fill the asterisks in yourself) were fucking salivating when they first assessed the house because their valuation which we took to court to challenge said it WAS They didn’t realise one of my wife's MANY posts while a civil servant included a spell in the effing valuation office so we knew how to play them at their game and win. Scum. Utter Scum the lot of them. First up against the wall. I have never had to deal with IHT so I come from a different position to those who have had to deal with it. I have not and do not make any argument of the difficulties or the costs in that area. My wife and myself have worked hard to accumulate our economic position and our economic safe position in our old age. My first point is that IHT that goes to the state goes for the benefit of all. IHT has a history of being used by governments to help fund battles abroad. "Succession duty was introduced by William Gladstone as a measure to capture more unearned wealth at the point of succession that would not otherwise be chargeable to legacy duty." ---- "unearned wealth" showing this point was recognised in the past. I think it is obvious that there is a need for IHT, without it some family lines would become extremely rich gathering wealth generation after generation as in the old days, gradually taking an ever bigger slice of the economic cake while at the same time seeing the country building more poor houses, and 50% of kids dying before the age of ten largely due to poor diets and bad living conditions. And the absence of an NHS of course. |
|
|
|
Post by see2 on Jan 2, 2024 20:56:44 GMT
So the idea of trickle down never even existed LOL So who advocated it as a policy? - or is this just something you were told by the Guardian or Mirror and were too trusting/gullible to ever check? As I have already shown, I HAVE NEVER CLAIMED IT WAS A POLICY, and you are being deliberately (I assume) slow on the uptake. |
|
|
|
Post by Red Rackham on Jan 2, 2024 21:14:14 GMT
I havent read through the entire thread so apologies if this has already been mentioned. I believe the threshold for inheritance tax is £325,000, which to be honest, isn't much. The 'average' house price in this country is currently £290,000 and there is only one way house prices go. There must be millions of people in this country who's estate is valued well in excess of £325,000, but are not by any stretch of the imagination wealthy or rich.
Inheritance tax is a punishment tax, a punishment for being frugal and saving and struggling to pay that mortgage for years and quite obviously it should be scrapped. If we must have an inheritance tax the threshold should be an absolute minimum of £1 million. People should not be punished because they grafted for years to pay a mortgage.
|
|
