Cut inheritance tax, I'll pay more tax so some kids can get a free house

[MrNM]

Anyone notice that the royal family doesn't pay inheritence tax.

 

When the queen mother died earlier this decade millions of pounds worth of housing and estates passed on to her daughter, no questions asked.

 

Those estates belong to the royal family. Mind you, you socialists would love a revolution. Burn em down and build council houses......

[truman]

So thatchers 1986 government was socialist? First I've heard of it (in case you were wondering, it is the Finance Act 1986 that controls inheritance tax).

 

 

Also, remember what levels we are talking about here - you don't pay anything on it until you hit a third of a million pounds.

 

Yep,another one of Labour's "envy taxes"

[anarchist]

Why should the state get it?

 

Its that good old socialist principle.

 

What's mine is mine and what's yours should be mine as well.

[donkey]

Its that good old socialist principle.

 

What's mine is mine and what's yours should be mine as well.

 

That's a capitalist principle. Unless you consider all the major financial institutions who have just received £100s billions of taxpayers money to be 'socialist?'

 

The Socialist Royal Bank of Scotland? The People's Collective of HBOS?

[truman]

The tories were in power in 1986

 

And Labour have repealed it?

[slacko]

Tax threshold is £325,000 in 2009-10.

The tax is payable at 40 per cent on the amount over this threshold.

 

Average house price in Britain is currently £344,989 (and rising slightly)

For a detached house.

http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/houses.stm

[anarchist]

The tories were in power in 1986

 

A typical left wing spin.

 

Actually inheritance tax was introduced in 1796 although its name was only change to inheritance tax in 1986. But let's not let the truth get in the way of your point.

[anarchist]

That's a capitalist principle. Unless you consider all the major financial institutions who have just received £100s billions of taxpayers money to be 'socialist?'

 

The Socialist Royal Bank of Scotland? The People's Collective of HBOS?

 

I always thought the capitalist principle was that you get rewarded for your labours and enterprise.

 

It took a socialist PM to give everyones money away to the banks.

[Berberis]

You can't make the claim that it is labours envy, when it is not a labour invention.

 

Did you know for example that Labour have increased the threshold immensely - if anything Labour have made it far less of a burden than it was originally. Under the right-wing tories.

 

More spin. You forget the huge rise of property values in the UK meaning inheritance tax is now encroaching on the middle classes. The very voters who gave Labour their election victories in the last 3 elections.

[truman]

You can't make the claim that it is labours envy, when it is not a labour invention.

 

Did you know for example that Labour have increased the threshold immensely - if anything Labour have made it far less of a burden than it was originally. Under the right-wing tories.

 

Didn't Labour bring in Capital Transfer Tax in '75? Isn't that the same thing?