Hunt apparently going to cut inheritance tax by 50%. It’s amusing that this policy is popular with people who would never have to pay any inheritance tax. And incredibly popular with people whose families might have to pay a little bit. Of course those who would be liable to pay loads have already sorted it so they pay nothing.
What a load of bollocks this is and literally grasping at straws. If a masked gunman is holding a baby in his arms is it legitimate to shoot them both ? Is it hell. What do I tell the parents of the baby - that it was some sort of calculation ? Thus increasing the risk that the babies parents etc. become gunmen themselves. Israel is grasping at straws to try to find international support for their genocide - end of story, and they have no proof of any of their allegations. They have bombed 40% of all residential units in North Gaza, together with schools, hospitals, ambulances, bakeries and even water purification plants - were Hamas hiding in all of them ? Or maybe hiding up the trouser legs of the 4,000 + children who have died so far, and the hundreds more still under rubble ?
https://www.cadtm.org/When-Einstein-called-fascists-those-who-rule-Israel-for-the-last-44-years Interesting read though a bit long.
Apparently less than 4% of deaths incur inheritance tax. Yet this feed the rich policy is deemed to be broadly popular. We get the government we deserve.
Probably more interesting and making more sense than most of what is posted on here and no not tequila shots for breakfast Kiwi, just margaritas.
That 4% is set to double. Inheritance tax is a grossly unfair tax in its present form, producing a tiny amount of tax compared to other forms of taxation. It's literally a tax on money that's already been taxed at least once. The threshold should be raised substantially, to only effect the very rich.
This lot seem to be doubling down on the nasty party rhetoric - tax cuts for the rich, punish benefit claimants, hate on immigrants, a war on 'woke'. It's as if they've given up on attracting floating centrist voters and want to appeal only to their core far right supporters. They're going to go into the next election fighting Reform UK, not Labour.
Relatively speaking if you’re in the top 4 or 8% then you’re doing pretty well. Loads of money gets taxed twice so that argument doesn’t really hold up. It’s unearned income, with a threshold, which seems pretty fair as taxes go to me.
700k seems a reasonable point to tax people. Boohoo if they get double taxed after that point. I've always said if i leave stuff for my kids/family then they are lucky as a lot of people dont have that opportunity. Sure i would want the best for them and want to give them a head start (education/upbringing etc) so getting lots of money is also a privilege and if its slightly less so be it
even then, you can bypass all that inheritance by giving your **** to your kids (if you trust them enough) as after 7 years gifted there is no inheritance tax
It's 325k + 175k extra if you're a sibling. Presumably you mean 2 parents in two separate houses? My main gripe is the rise in house prices, putting many, many people above the threshold. Anyway, it's not the most important issue, but I think the threshold should be raised.
That doesn't apply if a parent gifts his or her house to their child but carries on living there. So the 7 year rule won't help most people wishing to pass on a property
In 1986 fresh out of university here in Canada and struggling financially, after the passing of my UK uncle l was thrilled to receive a CAN$2,000 money order from my aunt. They had no children, a series of miscarriages in the bush of East Africa (Tanganyika) where, after WWII, my uncle, an agronomist, worked on plantations to establish Sisal as a viable crop. Some time later after my aunt passed away I learnt that for years her lawyer and accountant had been urging her to pass on a portion of her inheritance to family members (only 3 nephews/nieces including myself) as she had more than enough money to sustain herself for the rest of her life. However she continually resisted this advice and in her will and testament I noted that £165,000 was paid in Inheritance Tax to the Inland Revenue Service! At the time that would have equated to around CAN $330,000 a portion of which I could have certainly put to good use in purchasing my first home here for cash instead of financing a high percentage mortgage in 1990.
