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[Field Marshal Dr. Opti]

Never have liked the bitches

Tongue in cheek.....or?

[Sir Tigger KC]

Never have liked the bitches

Tongue in cheek.....or?

I'm sure they're very fond of him too!     

[ted_one]

Yes the feeling's are mutual,but DILLIGAF?

[Field Marshal Dr. Opti]

I'm surprised to find that inheritance tax is still paid at the rate of 40% above £325,000.

I thought the Tory government  raised this figure to £1,000,000 some years ago. Apparently not.

This means that if you live in London and own a shed......garage....or broom cupboard, you will be liable for inheritance tax.

[Sir Tigger KC]

I'm surprised to find that inheritance tax is still paid at the rate of 40% above £325,000.

I thought the Tory government  raised this figure to £1,000,000 some years ago. Apparently not.

This means that if you live in London and own a shed......garage....or broom cupboard, you will be liable for inheritance tax.

It's a bit 'smoke and mirrors' really.    

So the way it will work is they've promised to raise the threshold to £500,000 for the family home which should mean for most people that takes the house out of the equation.    Everything else is still subject to the £325,000 threshold. 

The million pound headline figure only applies if you can combine spouses IHT allowance.  IE: Dad dies and leaves everything to Mum, which is IHT exempt. When Mum dies the family can combine her IHT threshold with Dad's to give an increased threshold of £650,000.  If and when they raise the IHT threshold to £500,000 for the family home and Mum and Dads allowances are combined it then gives you the £1,000,000 that the papers like to trumpet (but only for the family home). 

It's all promises so far although it may be happening in April?  Not sure to be honest.    The £325,000 IHT threshold hasn't been raised for a few years now, which has sucked more and more ordinary folk into paying this tax!    You have 6 months after the death to start making IHT payments to HMRC if liable and in cases where people are property rich but cash poor it means the family home has to be sold.    and quickly, which often means cheaply as well! 

[Kevin Wood]

It's the perfect tax. By doing nothing that's going to grab any headlines, more and more people are automatically suckered into paying it. Increase the threshold and they'll get lambasted for pandering to the tory fat cats.

[Field Marshal Dr. Opti]

I'm surprised to find that inheritance tax is still paid at the rate of 40% above £325,000.

I thought the Tory government  raised this figure to £1,000,000 some years ago. Apparently not.

This means that if you live in London and own a shed......garage....or broom cupboard, you will be liable for inheritance tax.

It's a bit 'smoke and mirrors' really.    

So the way it will work is they've promised to raise the threshold to £500,000 for the family home which should mean for most people that takes the house out of the equation.    Everything else is still subject to the £325,000 threshold. 

The million pound headline figure only applies if you can combine spouses IHT allowance.  IE: Dad dies and leaves everything to Mum, which is IHT exempt. When Mum dies the family can combine her IHT threshold with Dad's to give an increased threshold of £650,000.  If and when they raise the IHT threshold to £500,000 for the family home and Mum and Dads allowances are combined it then gives you the £1,000,000 that the papers like to trumpet (but only for the family home). 

It's all promises so far although it may be happening in April?  Not sure to be honest.    The £325,000 IHT threshold hasn't been raised for a few years now, which has sucked more and more ordinary folk into paying this tax!    You have 6 months after the death to start making IHT payments to HMRC if liable and in cases where people are property rich but cash poor it means the family home has to be sold.    and quickly, which often means cheaply as well! 

Thanks, Sir Tig. Most informative.

[Field Marshal Dr. Opti]

It's the perfect tax. By doing nothing that's going to grab any headlines, more and more people are automatically suckered into paying it. Increase the threshold and they'll get lambasted for pandering to the tory fat cats.

Surely the initial idea of inheritance tax was that it would only inconvenience the 'super rich'....the top 1%

When Frank Shuttlebottom and his wife Agnes from Doncaster fall within it grasp something is not as it should be.

Much the same for stamp duty. Most people are not exempt from stamp duty these days, even if their  bricks and mortar purchase is modest.

[Kevin Wood]

Yes, stamp duty is another tax that massively broadens its' reach with no intervention other than the passage of time.

[Field Marshal Dr. Opti]

Yes, stamp duty is another tax that massively broadens its' reach with no intervention other than the passage of time.

Very true, Kevin. Difficult to source a definitive answer but it seems that the threshold for stamp duty was set at £35,000 back in the thirties.....pissing of nobody but extremely wealthy land owners.

Four bed detached house in Surrey was about £500 at this time.

[Sir Tigger KC]

Yes, stamp duty is another tax that massively broadens its' reach with no intervention other than the passage of time.

Very true, Kevin. Difficult to source a definitive answer but it seems that the threshold for stamp duty was set at £35,000 back in the thirties.....pissing of nobody but extremely wealthy land owners.

Four bed detached house in Surrey was about £500 at this time.

Osborne's latest scam with Stamp Duty is to charge an extra 3% on properties that are in addition to your residence, so Landlords, Developers and Holiday Home Owners get charged more.    

A lot of people will think it's fair enough as if you can afford a second home or an investment property then you should pay extra, but the thing is that if you own over 15 properties then you are exempt from the extra 3%! 

I'm not much of a socialist, but talk about looking after the wealthy.   

[Field Marshal Dr. Opti]

Yes, stamp duty is another tax that massively broadens its' reach with no intervention other than the passage of time.

Very true, Kevin. Difficult to source a definitive answer but it seems that the threshold for stamp duty was set at £35,000 back in the thirties.....pissing of nobody but extremely wealthy land owners.

Four bed detached house in Surrey was about £500 at this time.

Osborne's latest scam with Stamp Duty is to charge an extra 3% on properties that are in addition to your residence, so Landlords, Developers and Holiday Home Owners get charged more.    

A lot of people will think it's fair enough as if you can afford a second home or an investment property then you should pay extra, but the thing is that if you own over 15 properties then you are exempt from the extra 3%! 

I'm not much of a socialist, but talk about looking after the wealthy.   

I never did trust that Osborne fella.......or his wife Sharon.

How many houses/ how many acres of Dorset do you own, Sir Tig?

Plenty?.....

[Sir Tigger KC]

Yes, stamp duty is another tax that massively broadens its' reach with no intervention other than the passage of time.

Very true, Kevin. Difficult to source a definitive answer but it seems that the threshold for stamp duty was set at £35,000 back in the thirties.....pissing of nobody but extremely wealthy land owners.

Four bed detached house in Surrey was about £500 at this time.

Osborne's latest scam with Stamp Duty is to charge an extra 3% on properties that are in addition to your residence, so Landlords, Developers and Holiday Home Owners get charged more.    

A lot of people will think it's fair enough as if you can afford a second home or an investment property then you should pay extra, but the thing is that if you own over 15 properties then you are exempt from the extra 3%! 

I'm not much of a socialist, but talk about looking after the wealthy.   

I never did trust that Osborne fella.......or his wife Sharon.

How many houses/ how many acres of Dorset do you own, Sir Tig?

Plenty?.....

Rural poverty is a terrible thing M'lud!  and yes I'd have to pay the extra 3%. 

[Field Marshal Dr. Opti]

Yes, stamp duty is another tax that massively broadens its' reach with no intervention other than the passage of time.

Very true, Kevin. Difficult to source a definitive answer but it seems that the threshold for stamp duty was set at £35,000 back in the thirties.....pissing of nobody but extremely wealthy land owners.

Four bed detached house in Surrey was about £500 at this time.

Osborne's latest scam with Stamp Duty is to charge an extra 3% on properties that are in addition to your residence, so Landlords, Developers and Holiday Home Owners get charged more.    

A lot of people will think it's fair enough as if you can afford a second home or an investment property then you should pay extra, but the thing is that if you own over 15 properties then you are exempt from the extra 3%! 

I'm not much of a socialist, but talk about looking after the wealthy.   

I never did trust that Osborne fella.......or his wife Sharon.

How many houses/ how many acres of Dorset do you own, Sir Tig?

Plenty?.....

Rural poverty is a terrible thing M'lud!  and yes I'd have to pay the extra 3%. 


Between one and fourteen then.

[Sir Tigger KC]

Yes, stamp duty is another tax that massively broadens its' reach with no intervention other than the passage of time.

Very true, Kevin. Difficult to source a definitive answer but it seems that the threshold for stamp duty was set at £35,000 back in the thirties.....pissing of nobody but extremely wealthy land owners.

Four bed detached house in Surrey was about £500 at this time.

Osborne's latest scam with Stamp Duty is to charge an extra 3% on properties that are in addition to your residence, so Landlords, Developers and Holiday Home Owners get charged more.    

A lot of people will think it's fair enough as if you can afford a second home or an investment property then you should pay extra, but the thing is that if you own over 15 properties then you are exempt from the extra 3%! 

I'm not much of a socialist, but talk about looking after the wealthy.   

I never did trust that Osborne fella.......or his wife Sharon.

How many houses/ how many acres of Dorset do you own, Sir Tig?

Plenty?.....

Rural poverty is a terrible thing M'lud!  and yes I'd have to pay the extra 3%. 


Between one and fourteen then.

It's all relative M'lud.  If the 3% was levied on net property worth but those with property holdings worth millions were exempt, then I'm sure that you'd be exempt with your Welsh Castle let alone the Lincolnshire Estate!