'Bank of mum and dad' lends £5bn a year in UK, says L&G

[AtW]

Which is why millions is lost in possible taxes each day.

Unlikely since tax tapers off after few years already and, as NAT said above, typically parents would give money to relatively young children, so parents would live long enough for tax not to matter - their main equity is in their own house anyway.

[PurpleGorilla]

Unlikely since tax tapers off after few years already and, as NAT said above, typically parents would give money to relatively young children, so parents would live long enough for tax not to matter - their main equity is in their own house anyway.

So basically the wealthy look after their own.

[MrMarkyMark]

FTFY

Start here, and work outwards.

[DimPrawn]

So basically the wealthy look after their own.

Yes.

I never received a penny from my parents. Not that they had any money to give away, being renters all their lives.

[MrMarkyMark]

Not what he wants to hear, so I FTFY

Yes.

I received a fairly large fortune from my parents. They had plenty of money to give away, being large country estate owners all their lives.

[AtW]

So basically the wealthy look after their own.

They've earned their money and paid taxes on them, there should not even be any "inheritance tax", certainly not on first few million quid.

[PurpleGorilla]

'Bank of mum and dad' lends £5bn a year in UK, says L&G

Yes.

I never received a penny from my parents. Not that they had any money to give away, being renters all their lives.

Good for you.

I'm well aware CUK is full of high achievers, many without BOMAD help.

[MrMarkyMark]

Good for you.

I suspect there are quite a few of us, on here, who have never received anything from BOMD and had to make our own luck.

Join the club

[DimPrawn]

I suspect there are quite a few of us, on here, who have never received anything from BOMD and had to make our own luck.

Join the club

I have respect for those that crawled out of the council estates and made their way in life. I have no respect for the hooray henry classes and their inherited "luck".

[AtW]

I have respect for those that crawled out of the council estates and made their way in life. I have no respect for the hooray henry classes and their inherited "luck".

Henry VIII was pretty cool though, don't tell me you never dreamed to be more like him....