If they go back through his bank statements for the last 7 years they’ll not be much left to go around
The Tories want to scrap Inheritance Tax but the left wing of the Labour Party are against it because it will benefit the super rich but cannot get their heads around the fact that the families of millions of people like Saf could be bankrupt if their parents have worked all their lives and bought their houses because some times they have to sell their own houses to pay the tax on what they have inherited , should be at least a million before tax and at a lower rate which only increases according to the size of the inheritance
I hope not Saf but it is something that is going to affect a lot of people in the future Problem is getting the right advice costs money, has your dad made a will, that might sort out a couple of problems if it is a well written one, I know that might sound a bit harsh but these days it needs to be done I feel a bit mercenary saying that but on a larger scale most of the Stately Homes that are in the National Trust are there because the families had to sell to pay the taxes
lol come on duggie. You only get taxed if you have it. They don't put you into debt. They don't say he has 1 million and then say Saf owes 2 million. They would be like, here's 1 million, i'm swiping 40% off that (i cant even be arsed to include threshold) and SAF would still be laughing to the bank with 600k
They should sack off trusts and take the houses back into stock. But national trusts are for the rich. Anyway, in terms of the will, that's not going to prevent having to pay inheritance tax but it will stop safs family from squabbling and falling out with each other and lawyering up (that **** will cost money and put you into bankrupcy)
No issues with what you’ve said, Duggie. Yeah, my old man has made a will. Who is responsible for the tax on any money ‘gifted’ to me from my old man? Me, or will it come out of his estate before the money is dished out?
I think there is a timescale for when a gift becomes an actual gift so not taxable There is I think a Gov UK site where you can get all the info you need on amounts and timescales All I am saying really is check out what you can before anything happens, hopefully a while off in the distance but the more you can find out the better you will be able to avoid being caught unawares
that i'm not sure about but i assume it will come out of his estate. If it was to be really fair i assume it would actually be proportioned out so you don't take the full tax hit but i'm not an accountant so dont take me on that.
And here ends tonight’s party political broadcast for the Conservative Party As it currently stands you only pay inheritance tax on anything above £325k, so if your estate is worth £425k you pay 40% on the £100k (£40k). I’m not sure why you think this will bankrupt you as you still have £385k in your back pocket. The Tories want to scrap it because it will potentially cost them and the donors, a fair chunk of their wealth mate, no other reason.
Congratulations on being the funniest guy on here. I’m so nervous. Gessa is coming up on the rails to pip me for POTY. Whatever happens it’s been a great competition and I’ve thoroughly enjoyed it.
We’re all winners for being here. Rumours going round Gessa shags whippets so that could change things.
