Jeffrey Shaw Posted September 19, 2011 Share Posted September 19, 2011 UK, both before the € and since the €, has always done most of its overseas business in the EU. Unfortunately for you, that is simply untrue. Do not believe the drivel churned out by the hated EU and spoon-fed to you. Link to comment Share on other sites More sharing options...
Grandad.Malky Posted September 19, 2011 Share Posted September 19, 2011 In 20-odd years, I'll probably have to go into a home. By that time, I'll have made sure I've spent the bloody lot. Selfish or sensible? Spot on ………… the only thing is trying to convince my mother, she will sit on hers until the government take it. New car, foreign holidays, spoil the kids / grand kids or save and see it taken away from you ………. Tough one. Link to comment Share on other sites More sharing options...
chem1st Posted September 19, 2011 Share Posted September 19, 2011 Spot on ………… the only thing is trying to convince my mother, she will sit on hers until the government take it. New car, foreign holidays, spoil the kids / grand kids or save and see it taken away from you ………. Tough one. I plan to buy a house and leave it to my children. I'll top myself before the government takes it off me to pay for my living in a carehome... I don't know why they don't hurry up and legalise euthanasia and solve the pensions crisis. Link to comment Share on other sites More sharing options...
Cyclone Posted September 19, 2011 Share Posted September 19, 2011 I don't have to worry about the storage, I'm not concerned about the guarantee (I wouldn't need a second if the guarantee was worth owt), nor am I worried about my goods depreciating in value. They now cost more in the shops. I'm happy. You must be in a rather unique situation if you have endless free storage for things as large as a carpet. And not worrying about the guarantee is just foolish. If you connect that cooker up in 5 years time and it's DOA then you've wasted your money. You're worried about your money depreciating, why wouldn't you worry about a proxy in the form of goods depreciating? If you were honestly buying material things as a way of hedging against depreciation and the baseless fear of bank collapse then you'd buy gold wouldn't you, or something else similar, precious metals or gem stones, or dollars or yen. Link to comment Share on other sites More sharing options...
Cyclone Posted September 19, 2011 Share Posted September 19, 2011 Unfortunately for you, that is simply untrue. Do not believe the drivel churned out by the hated EU and spoon-fed to you. Where is most of our overseas trade done then? Link to comment Share on other sites More sharing options...
chem1st Posted September 19, 2011 Share Posted September 19, 2011 You must be in a rather unique situation if you have endless free storage for things as large as a carpet. And not worrying about the guarantee is just foolish. If you connect that cooker up in 5 years time and it's DOA then you've wasted your money. You're worried about your money depreciating, why wouldn't you worry about a proxy in the form of goods depreciating? If you were honestly buying material things as a way of hedging against depreciation and the baseless fear of bank collapse then you'd buy gold wouldn't you, or something else similar, precious metals or gem stones, or dollars or yen. I'm a paranoid hoarder, 2 and 3 of everything. Ideally three. If something breaks it's already replaced, and I can try to fix the other... If you visited my house and saw the tv in front of the tv, 2 tables stacked etc. you'd probably think I was mad. Gold & silver are all well and good, but how you going to buy a new XYZ when they are no longer for sale... Link to comment Share on other sites More sharing options...
Cyclone Posted September 19, 2011 Share Posted September 19, 2011 Spot on ………… the only thing is trying to convince my mother, she will sit on hers until the government take it. New car, foreign holidays, spoil the kids / grand kids or save and see it taken away from you ………. Tough one. I get the impression that with a bit of forward planning it's easy enough to avoid having to pay it all to the government without having to spend it all (unless that's what you wish to do of course). Link to comment Share on other sites More sharing options...
Grandad.Malky Posted September 19, 2011 Share Posted September 19, 2011 I get the impression that with a bit of forward planning it's easy enough to avoid having to pay it all to the government without having to spend it all (unless that's what you wish to do of course). Our generation can see that but try explaining that to those brought up in the 40s, its hard for them to change their thrifty ways. Link to comment Share on other sites More sharing options...
Cyclone Posted September 19, 2011 Share Posted September 19, 2011 I plan to buy a house and leave it to my children. I'll top myself before the government takes it off me to pay for my living in a carehome... I don't know why they don't hurry up and legalise euthanasia and solve the pensions crisis. Why would legalising it make any difference? If you want to top yourself at some point you still can, it's not even illegal, it's only illegal if someone assists you... Setting up a family trust Setting up a family trust is one way of transferring the ownership of your home or other assets to someone else while you're still alive. You should get advice from a solicitor on this because the law on trusts is complicated. Find a solicitor or advice agency Giving money or property to other people You may choose to give money or assets to relatives. There is no limit on the value of these gifts, but your relatives may have to pay tax on any interest or income they receive. If you give money or assets to someone within the seven years before you die, Inheritance Tax may be owed on your gift. Giving money to your children and grandchildren (money, tax and benefits) Trying to avoid care home fee payments Sometimes people deliberately transfer ownership of their assets to someone else in order to reduce what they pay in care home fees. If the local council believes this has happened they may assess you differently than in the normal assessment procedure: if assets were transferred within the six months before you moved into care, the council can recover the cost of your stay from whoever received the gift if the transfer happened more than six months before you moved into care, they can assess you as if you still own the assets There's no time limit on how far back the council can look to find out if you gave away assets to avoid care costs. Looks a bit complicated, but probably worth investigating. Link to comment Share on other sites More sharing options...
max Posted September 19, 2011 Share Posted September 19, 2011 Why would you be worried about where your money goes when you're dead? We've had this debate many times on this forum and no-one has been able to explain why IHT isn't a victimless tax. Link to comment Share on other sites More sharing options...
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