Inheritance Tax

[DodgyAgent]

I dont know what all the fuss with regards to inheritance tax is about. Why is it that we criticise those on welfare for being dole scrounging parasites when on the other hand we want to be free to create exactly the same kind of people who are supported by fat wads of inheritance dosh?

If it is a choice between taxing people on salaries of below £25,000 (of which 30% is paid in tax read david Aramovich in today's times http://www.timesonline.co.uk/tol/com...cle2570503.ece) or taxing people on money they have no further use of other than to support their undeserving offspring, then tax inheritance any day.

[wendigo100]

I'm not sure that welfare parasites are quite the same as people living off their own money. For a start, I don't pay for the latter.

As for my estate, I earned it, I paid tax on it. I should be able to do with it as I please, shouldn't I? I thought that was a basic principle of a free world.

[alreadypacked]

I like the way inheritance tax is referred to an “aspirational tax” most people want to have that amount of money when they die.
In reality only 6% of people do.
Non issue really.

[DodgyAgent]

I'm not sure that welfare parasites are quite the same as people living off their own money. For a start, I don't pay for the latter.

As for my estate, I earned it, I paid tax on it. I should be able to do with it as I please, shouldn't I? I thought that was a basic principle of a free world.

Just as you have with your day to day income. My point is that in giving money to children it does them no good whatsoever. even though it is your own money, passing it on to children creates a dependency culture just as it does wioth welfare recipients. I am suggesting that inheritance tax is a better tax than any other as it has no effect upon those who have earned it.

[shaunbhoy]

I am suggesting that inheritance tax is a better tax than any other as it has no effect upon those who have earned it.

How about an "inheritance tax" for agents? Now THAT would be a vote winner!!

[DodgyAgent]

How about an "inheritance tax" for agents? Now THAT would be a vote winner!!

do you think we would leave anything? even for our children? what planet do you live on?

[rootsnall]

Just as you have with your day to day income. My point is that in giving money to children it does them no good whatsoever. even though it is your own money, passing it on to children creates a dependency culture just as it does wioth welfare recipients. I am suggesting that inheritance tax is a better tax than any other as it has no effect upon those who have earned it.

I'm thinking I'll probably be a retired old codger before I see any of my much deserved inheritance and it won't do me any harm whatsoever. The problem with it is the wealthy don't pay it but an increasing number of ordinary people who haven't squandered their money and don't rely on the state in their retirement will end up handing over a chunk to the government.

[TheFaQQer]

As for my estate, I earned it, I paid tax on it. I should be able to do with it as I please, shouldn't I?

Yes - you have.

However, once you die, it ceases to be yours. The beneficiaries of your estate have not earned it, have not paid tax on it, and it isn't theirs.

[Churchill]

Yes - you have.

However, once you die, it ceases to be yours. The beneficiaries of your estate have not earned it, have not paid tax on it, and it isn't theirs.

If your estate goes to the Crown, does the Crown pay inheritance tax?

[tim123]

I dont know what all the fuss with regards to inheritance tax is about. Why is it that we criticise those on welfare for being dole scrounging parasites when on the other hand we want to be free to create exactly the same kind of people who are supported by fat wads of inheritance dosh?

If it is a choice between taxing people on salaries of below £25,000 (of which 30% is paid in tax read david Aramovich in today's times http://www.timesonline.co.uk/tol/com...cle2570503.ece) or taxing people on money they have no further use of other than to support their undeserving offspring, then tax inheritance any day.

I agree. I got really incensed yesterday when one of the news progs interviwed someone complaining about having to pay IHT on his dad's (slightly premature death[1]) insurance payout.

This was cash FFS, not a house that (some will argue) has sentimental value, and there he was complaining that because of IHT he only got four hundred thousand pounds in his grubby hands instead of five hundred thousand pounds!

[1] when my mum died early, I'd have given every penny that I had to have her back, some people obviously think that money is more important.

tim