Inheritance Tax Petition

[Sagitar]

Have you seen the petition here:

http://petitions.pm.gov.uk/ihtcrusade/

[Tango]

Have you seen the petition here:

http://petitions.pm.gov.uk/ihtcrusade/

Signed it......tax on tax on tax... :tsktsk:

[peter026]

Done........Although going on this Governments record and what they also said about the last online petition I signed, they will ignore it completely, as it doesn't suit them.

Also, this country is near Bankruptcy due to the total incompetence of Gordon Browne. The national Debt has risen to over £100 Billion, or 87% of this countries national gross product.

[oldcro]

I have not signed as I believe those with money should contribute more to the nations running costs. Remember, many people did nothing to earn the extra cash their property is now worth. They just happened to live in a house which was bought 20 or more years ago and inflation has increased its value from an original £4,500 to a massive £395,000 (as an example). So pay up and be glad you are in a position to need to.

Personally, I would love to be in a position to have to pay inheritance tax.

[Mike_B]

I have not signed as I believe those with money should contribute more to the nations running costs. Remember, many people did nothing to earn the extra cash their property is now worth. They just happened to live in a house which was bought 20 or more years ago and inflation has increased its value from an original £4,500 to a massive £395,000 (as an example). So pay up and be glad you are in a position to need to.

Personally, I would love to be in a position to have to pay inheritance tax.

But you wishing you had that problem doesn't make it fair that I should have to pay tens of thousands of tax when I've just lost my parents does it? Fundamentally, what you're saying there is that because your parents haven't got any money, other people should pay more tax. If it was a small proportion of the population that might be fair enough, but it's an awful lot more than that now.

http://www.thisismoney.co.uk/tax-advice/in...p;in_page_id=78

Inheritance tax was designed to catch only the very richest people - but like so many other taxes, the numbers paying it have been grossly expanded by not changing the limits (just as a greater proportion of people now pay 40% income tax) to fund expenditure like Tony's little jaunt in Iraq.

Mike

[Kazi]

Don't epxect my parents to leave me a huge amount, even so, it has to go round two other persons. I think inheritance tax is just another f :tsktsk: g tax! Like everything else in this *** for saken country, tax tax tax and then tax a little more!

Anybody who believes in this policy is just not thinking right. I understand the wealthier get taxed more anyway, and rightly so, but when passing down ones possesions/assets.....what gives the government the right to rape you on that?! :tsktsk:

[Wosket]

my nan's estate was reduced by some £400k due to inheritance tax, it's all wrong! have signed the petition but i don't think anything will change, unfortunately.

[Gareth]

my nan's estate was reduced by some £400k due to inheritance tax, it's all wrong! have signed the petition but i don't think anything will change, unfortunately.

Dude... what was the estate called... Scotland?!

[eddiea1]

just tell your parents to blow all their money before they die, problem solved

[Gareth]

just tell your parents to blow all their money before they die, problem solved

I've never encountered any that needed to be told to do that :winky:

[eddiea1]

just tell your parents to blow all their money before they die, problem solved

I've never encountered any that needed to be told to do that :winky:

personally im not fussed about inheritance taxes I know my folks have taken steps to minimise their liability but lets face it the best way to make cash is to go out and earn it not wait for your relatives to drop dead :winky:

[Mike_B]

personally im not fussed about inheritance taxes I know my folks have taken steps to minimise their liability but lets face it the best way to make cash is to go out and earn it not wait for your relatives to drop dead :winky:

Sign the petition anyway then. Sadly not everyone's parents are as financially astute as yours evidently are, but they still worked hard, paid their taxes and left bereaved offspring behind. Why not help keep the thieving hands of the government off it? Whether you've earnt your own in the meantime isn't really the point here... (though it's certainly true!!)

[GreyArea]

This is not necessarily my opinion on the matter, but here's something I read on the matter today http://www.guardian.co.uk/commentisfree/st...2010933,00.html

My parent's house is worth an awful lot, but they've lived there for 30 years, and when they bought it, it was a falling down heap. Should government take 40% of that worth, just because house prices have gone up? I don't think so, as my father has paid enough in income tax already! Still, if there's any truth in the article, he should be able to find ways to avoid me paying it!

[eddiea1]

I did sign the petition as Im not for higher inheritance taxes but on the other hand I am not entirely for estates being left to heirs entirely untaxed. There should be a balance because not taxing inheritances will cause greater concentrations of wealth into less people's hands in the long term. Also unearned wealth is not good for the economy as it makes people lazier.

My parents also have been living in their house for 30 years but they have just sold up and are now moving to a small 2 bedroom bungalow since my mum got ill and cant do housework any more. What they will do with the money is anybody's guess, personally I think they should fritter it away on bingo sessions, gardening implements and orthapedic cushions. Whatever is left over they can give to me and I will waste it on my car.

[Gareth]

If people think to get around it then they can just gift the assets more than 7 years before death.

I find the later part quite ridiculous. It's not like someone gets to choose how long before death that happens.

G

[eddiea1]

If people think to get around it then they can just gift the assets more than 7 years before death.

I find the later part quite ridiculous. It's not like someone gets to choose how long before death that happens.

G

it is ridiculous but its a game of cat and mouse between the fancy schemes that lawyers cook up to shield the assets of the very wealthy and the chancellor's grabbing hands. Basically if Gordon thinks the schemes of trusts gifts blind trusts and other combinations of asset transfer are taking the pi$$ he clamps down.

what has affected us normal people of course is him not raising the thresholds in line with inflation and the runaway house price increases that have made even working class people IHT liable. This was unknown until the late 1990s and most people didnt even have to think about inheritance taxes. Maybe this is what new Labour means by equality..........................

Edit: this post also made me think about someone I know who a couple of years back came into some money after his last grandparent died. I remember clearly how absurd his behaviour became as he ranted on about the death duties even though he just had a nearly six figure payout. Did he put the money towards his mortgage, no he was straight down the Toyota garage he bought himself a Toyota Landcruiser amazon.

He also wears those puffa jackets with no sleeves, what a bell end

[GWilso]

Signed

I dont expect ill recieve anything within the brackets but still very much support the cause for those that it does effect,