Inheritance Tax

Discussion in 'Current Affairs' started by finknottle, Oct 9, 2007.

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  1. Excellent news from Alistair Darling, inheritance tax for married couples is to double to £600.000.
     
  2. chieftiff

    chieftiff War Hero Moderator

    Oh no he hasn't "However, Carolyn Steppler, tax director at KPMG in the UK, said the move is 'in practice only giving to most people what they already have.'

    'Many married couples will already have drafted wills to allow each spouse to take advantage of their nil rate band through the use of a nil rate band discretionary trust. This was possible even for the family home,' she said."
    Forbes.com financial

    In fact he may have made himself look a little silly by suggesting he has changed anything, we'll no doubt see in tomorrows papers once the accountants have had a think!
     
  3. Seadog

    Seadog War Hero Moderator

    From the pundits on the BBC News it already was £600k, that is it was 300k each if you got your affairs sorted properly, within the law. A procedural change to try and outflank the Tories, not big hearted Al getting all in touch with voters' concerns and giving anything away (sorry-back). Spin.

    Apologies to CT, typing as you were posting.
     
  4. I take onboard the above points nevertheless he has changed it.
     
  5. All assets passing between a married couple are free of inheritance tax, at no limit at all.

    The difference may be for couples who are in civil partnerships who are now included.

    Does it mean that now after £600k all excempt relationships will have to pay IHT? or that the IHT limit has been raised across the board to £600k?
     
  6. chieftiff

    chieftiff War Hero Moderator

    No, you're right I think he should get some credit; Alistair may after all have saved us filling out a form.
     
  7. Even more shite Labour spin!
     
  8. sadly yes, as said above you could always get this amount there is just no paper work now. :tp:
     
  9. IMO its just a rushed through piece in response to the Tory conference last week. A case of 'shit they've come up with something good, best we do the same'. Utter bollocks, as always from the Labour faggots.
     
  10. Dear oh dear such vitriol directed against our excellent Scots administration. =)

    So Chaz you have never used a good idea thought up by someone else, well done. =)
     
  11. Of course I have, I don't happen to run (or attempt to) the country, I'm a mere CPO!!!

    "Excellent Scots" - I'll support Germany and Argentina before the "Jocks in socks with daggers down their socks"
     
  12. Typical PJ shite again. There is a massive difference between using a good idea and stealing it outright.
     
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  14. FlagWagger

    FlagWagger Book Reviewer

    I'm assuming that you're using this phrase to describe the current incumbents at Westminster :crash:

    A quick question trying to unravel the logic and/or the grammar.

    Does your use of the word excellent apply to Scots or administration?

    I can accept the first case (even as an Englishman), however describing Liebour as an "excellent administration" is down-right wrong. Unless of course, by "administration" you are using the definition from law, i.e. the management and disposal of the property of a deceased person, a debtor, or an insolvent company. Given that Gordon and Co are doing a good job at destroying the UK for little gain for the UK shareholders (i.e. the taxpayer), again I think caling their efforts excellent is stretching the point!
     

  15. When my Wife died -----I inherited as survivor the allowed amount at the time . The estate doesn't just cover the main residence it includes all possessions ,savings assets ---- I did not pay inheritance tax but before the estate could be settled the tax man has to issue a clearance chit to the courts [Scotland] confirming tax has been paid .

    However------now I'm single[widower] again I suppose no change .

    As usual --Labour spin



    :nemo: :nemo:
     
  16. Seadog

    Seadog War Hero Moderator

    (My italics.)

    Very dry CT!

    Alistair. I notice that the treasury minister wheeled out to field the questions from the BBC referred to some geezer called Alistair. I assumed he meant The Chancellor. Are viewers supposed to go away with the impression that the Chancellor is our chum? It's bad eneough that politicos all call journos / newsreaders by their Christian (or-PC moment- first names) but let's be spared hearing about how our 'mate' Al is doing this because he gives a shiT.
     
  17. Finknottle, i'm glad Labour made those statements yesterday. It just goes to show that Tory policies are the right ones and that Labour have run out of ideas. Still can't believe they've been in power for 10 years and only decided to change their policies (sorry steal them) after the marginal seats became an issue which threatened broons position.
     
  18. That's nothing new. When the previous Chancellor was in office, he spend his first few years continuing the policies of the previous administration (standfast the raid on the pension funds). Naturally, in those years we enjoyed a funding surplus and paid off some of our debts. Then when he started using his own ideas, we switched back into running up huge debts (individually and nationally), and the economy has stuttered ever since.

    The incumbent in No 10 is a jumped up student politician with little imagination who has never actually been out in the real working world. So why should he come up with a vote-winning policy when the opposition can do that for him? Then people claim that the Tories have no policies. Is it any surprise that they're keeping their cards close to their chests?
     
  19. Like the vast majority of the incumbents, hardly a condemnation of Brown himself.

    I understand that the Grandaughter of Tony Benn has been selected to stand in Worthing at the next election. At seventeen years old and the third generation of politician it's hardly a ringing endorsement of the value of democracy.
     
  20. Now that is scary!
     

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