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I don't really get it, why is inheritance taxed again, surely you've already been taxed once on earnings?

Because the government are stnuc.

Can you not just give everything away just before you die to avoid having to pay it or have they thought of that?

m8son wrote:Can you not just give everything away just before you die to avoid having to pay it or have they thought of that?

Dont see how they can, just start bank transferring the money over when you hit like 80 or summet

Depending on how ballin you are you can set up a trust fund...

I think the limit is £325k before you have to pay inheritance tax anyway.

m8son wrote:Can you not just give everything away just before you die to avoid having to pay it or have they thought of that?

Yeah, they're wise to that


Same as you can't flog off all your assets to a mate for a quid before declaring bankruptcy.

Laszlo wrote:Depending on how ballin you are you can set up a trust fund...

I think the limit is £325k before you have to pay inheritance tax anyway.

just checked, you're right. then you're taxed at 40%

wub wrote:

m8son wrote:Can you not just give everything away just before you die to avoid having to pay it or have they thought of that?

Yeah, they're wise to that


Same as you can't flog off all your assets to a mate for a quid before declaring bankruptcy.

the bastards

You can in theory double the threshold allowance by having your parents declare their estates separately prior to their passing, so £375k from one and £375k from another tax free.

That requires a bit more planning though on their part.

cuntservatives

bennyfroobs wrote:cuntservatives

The inheritance tax free threshold has increased by £120k since 1997, although it's worth noting that not one of those increases has been since the ConDemNation took power.

The current threshold is due for review in April 2015.

wub wrote:

bennyfroobs wrote:cuntservatives

The inheritance tax free threshold has increased by £120k since 1997, although it's worth noting that not one of those increases has been since the ConDemNation took power.

The current threshold is due for review in April 2015.

blair was a conservative in disguise :p

Laszlo wrote:Depending on how ballin you are you can set up a trust fund...

I think the limit is £325k before you have to pay inheritance tax anyway.

Does that figure include property?

rockonin wrote:

Laszlo wrote:Depending on how ballin you are you can set up a trust fund...

I think the limit is £325k before you have to pay inheritance tax anyway.

Does that figure include property?

Total value of estate, so property, possessions, money and investments.

thats soooo bastardly :/

robbing people blind even after the die

bennyfroobs wrote:cuntservatives

Taxation isn't a terribly Conservative pass-time and dynasty-protection is a rather Conservative pass-time; if anything, Conservatives should campaign against inheritance tax.

I'm pretty in favour of it. If you're leaving your kids enough cash and assets that they're able to live comfortably without having to work very hard (or pay PAYE) then it's probably only fair that they contribute a little to the running of the country.

Not a fan of dynasties, personally.

magma wrote:

bennyfroobs wrote:cuntservatives

Taxation isn't a terribly Conservative pass-time and dynasty-protection is a rather Conservative pass-time; if anything, Conservatives should campaign against inheritance tax.

I'm pretty in favour of it. If you're leaving your kids enough cash and assets that they're able to live comfortably without having to work very hard (or pay PAYE) then it's probably only fair that they contribute a little to the running of the country.

Not a fan of dynasties, personally.

I dunno, i guess im a bit biased but i dont really like the idea, you pay tax on your income in the first place. it's surely a bit shit to work hard to give your kids the best possible start in life and then know you're only gonna be giving your kids 30% of your salary

how much u gettin tom?

n e chance u cud lend us a tenner?

Agent 47 wrote:how much u gettin tom?

n e chance u cud lend us a tenner?

mate i bought you that bottle of cider the other day