truman Posted December 10, 2009 Share Posted December 10, 2009 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 IHT hasn't kept up with house price inflation..it would be around £460k if it had, don't they call this "fiscal drag"? Link to comment Share on other sites More sharing options...
Berberis Posted December 10, 2009 Share Posted December 10, 2009 Ah diddums - those poor middle classes I am amazed at all you who believe there is noting wrong with being born with a silver spoon in your mouth There we go, this is nothing to do with taxation but your one man war on anyone with a few pennies more than you. Class envy and reverse snobbery all rolled into one tight little red ball called auto98uk Link to comment Share on other sites More sharing options...
mj.scuba Posted December 10, 2009 Share Posted December 10, 2009 So if a socialist gets money without earning it that is wrong, but if your kids do it it is ok? Yup, that's about right. Should point out, there is an exemption for spouses isn't there? If not then i agree as far as spouses go, but not children. At the most it should be possible to give them a start, but not set them up for life without paying huge taxes on it. It is an income for the child, so should be taxed again, in the same way that when you buy a product the money you pay with has already been taxed, and is then taxed again - it is transactions that are taxed, and passing on to your kids is most certainly a transaction Hopefully by the time the grim reaper comes for me, my kids won't be kids anymore so won't need it to set them up for life. TBH I don't think I'll be over the threshold anyway, £325,000 worth of estate is a lot of dosh or a big house (bigger than mine ) but its the principle of it. Link to comment Share on other sites More sharing options...
Berberis Posted December 10, 2009 Share Posted December 10, 2009 Nothing whatsoever to do with any war. It has nothing to do with class (in fact the person i quoted was the one who brought class into it, not me). It has nothing to do with snobbery. What it does have to do with is the "I'm alright jack, so screw the rest of you" attitude certain people on here have. These are the same people that then complain about public services, but don't believe that they should have to pay for them. I believe that those with more money should pay more towards helping those with less money. That includes me, (I pay higher rate tax) or does telling you that not help with your little caricature of me as a "tight little red ball"? auto98uk, how about a blanket inheritance tax, say like the income tax. 10% for all irrespective of income? Link to comment Share on other sites More sharing options...
CottonTop Posted December 10, 2009 Share Posted December 10, 2009 LOL Socialists understand work far more than the fat cat capitalist who doesn't actually have to do any work to earn his money. Which leads to inheritance tax which, if removed, specifically allows someone to get money without working for it, which kind of negates your "socialists...." nonsense. Socialism.....the politics of envy. My mother and father weren't "fat cat capitalists" who sat on their butts earning money off the backs of others. My father started a small business that my mother took over upon his death. She worked hard to raise two children on her own, run that business so that we would have a comfortable life and she saved and scrimped so she would have something to pass on to us. I live in a free house.....my childhood home that I inherited when she died. The government has no right to take that from me in taxes. Thankfully, my mom had the sense to purchase enough life insurance (which is not taxed here btw) to cover the taxes so that we could keep the fruits of her labor. She taught us to work hard just like she had and be savers, not spenders. She gave us a good education, a great start in life so we can do the same for our kids. Socialists can't stand to see someone have something they don't have because they couldn't be bothered to work hard to get it for themselves. Link to comment Share on other sites More sharing options...
truman Posted December 10, 2009 Share Posted December 10, 2009 These are the same people that then complain about public services, but don't believe that they should have to pay for them. I pay plenty for the public services.... Link to comment Share on other sites More sharing options...
Glennis Posted December 10, 2009 Share Posted December 10, 2009 It is completely unfair to tax inheritance, in my opinion. I work hard all of my life and pay tax on my earnings while saving for my children's future, they should not have to be taxed again on the same money upon my death. If I work hard to buy a house and pay off the mortgage, I should be able to give that house, free and clear, to whomever I choose. I think most people feel the same way....they want to make sure that their children will be taken care of in the event of their own death and they want to give their children the best possible start in life. Why can't the said kids work hard, like you have, to provide for themselves? I want to help my children, but I also expect them to work for themselves. Link to comment Share on other sites More sharing options...
HeadingNorth Posted December 10, 2009 Share Posted December 10, 2009 Why can't the said kids work hard, like you have, to provide for themselves? What on earth would be the point, if the Government's going to take everything away from them once they die? Link to comment Share on other sites More sharing options...
CottonTop Posted December 10, 2009 Share Posted December 10, 2009 Why can't the said kids work hard, like you have, to provide for themselves? I want to help my children, but I also expect them to work for themselves. Who said they wouldn't? A good work ethic is instilled in children by their parents. If their parents work hard and show their kids that this is the way to make it in the world, then likely, their kids will do the same. Likewise, if children see their parents sit on the settee all day, drinking beer and watching telly waiting for their benefits check to come in, they will think that is the way to make it in the world. Link to comment Share on other sites More sharing options...
truman Posted December 10, 2009 Share Posted December 10, 2009 I want to help my children, So what's the problem with the government letting other people do this...? Link to comment Share on other sites More sharing options...
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