Inheritance Tax

Jason

You only seethe with anger because you are thick. In fact, considering the drivel you often write in with, I sometimes think that you are as intellectually challenged as that all time forum thicko, Mr Pig.

Only fools pay inheritance tax of any significiance, there are ways around it to minimalise it but I am not going to waste my time explaining it to you.

Hopefully neither will anyone else.

No regards

Mick

Quarter of a million not enough for you to inherit tax free then?

quote:

Originally posted by bob mccluckie:
Quarter of a million not enough for you to inherit tax free then?

Ask tony blair the same question.
The point is, at a time when people are being encouraged to get on the property ladder wtf should it be allowed?
As the original poster says, tax has been paid on the initial money, big time rip off as far as I am concerned.

Van the man

If you want to reduce tax, reduce government expenditure. It is the only way.

Bob

If you must know, when my parents died, I inherited a total sum of £300. So I could hardly be described as old money.

Having said that, after working bloody hard (I am still doing 55 hours and I am supposed to be retired) since the age of 15, I want all of my wedge to go to my descendants, not some useless vicky pollard type. So I manipulate the system like any sensible person.

Regards

Mick

Mick is right you can get round it - get some good advice is all i can say.

Regards

If any one wants a copy of this then let me know

Er... Mick
I wasn't replying to you, but to the previous post.

As if IHT wasn't bad enough New Labour would love to charge CGT on principle private residence profits if they thought they could get away with it.

Martin I'd love a copy please.

quote:

Originally posted by Mick Parry:
Jason

You only seethe with anger because you are thick. In fact, considering the drivel you often write in with, I sometimes think that you are as intellectually challenged as that all time forum thicko, Mr Pig.

Only fools pay inheritance tax of any significiance, there are ways around it to minimalise it but I am not going to waste my time explaining it to you.

Hopefully neither will anyone else.

No regards

Mick

Thanks for your kind thoughts.

As i always thought, before joining the Naim Forum, and reading your previous, meaningless posts, you are a complete waste of space and a complete tosser. You should be posting in the grumpy old men thread, but then i dont even suppose they would even want you in there.

I was not actually refering to myself, but if i had been, it would have made me feel much better reading your thoughts after having lost someone close.

I dont need someone, especially you, to expalin how to get round things. I have probably avoided more things in my short lifetime than many, but im not going into that here.

It was merely an observation that promted me to post. Thats it.

Go and take some of your happy pills and tuck yourself up in bed. It must be way past your bed time.

quote:

I dont need someone, especially you, to expalin how to get round things. I have probably avoided more things in my short lifetime than many, but im not going into that here

If that is the case, why write the drivel in the first place.

quote:

Originally posted by jasons:

What the hell is wrong with the damn government?

..

They are the government - that says it all.

All governments are corrupt, but some are more corrupt than others.

Personally I wish the press were a bit more vitriolic and gave them a much harder time. Politicians get off far too lightly IMO, I'd like to hear of a lot more of them breaking down and vanishing in to oblivion. Tony Blair is a Martain Spy or Gordon Brown is a Cannibal would make great healines.

I always find it funny when political people bring out books and imagine that there are people in the world that are so sad that would want to read them. It is even funnier that some people do (oh well). People pay to hear John Major speak (unbelievable) and the BBC classify Question Time as entertainment (watched a whole episode once and not one decent joke in it). Still you got to laugh

To avoid Inheritance Tax why not do as politicians do and tell lots of lies.

quote:

Originally posted by ROTF:
To avoid Inheritance Tax why not do as politicians do and tell lots of lies.

Because (unlike politicians) you'd probably end up in jail with your assets confiscated.

My cunning plan is to spend every penny I have then die.

quote:

Originally posted by Mick Parry:
Jason

You only seethe with anger because you are thick. In fact, considering the drivel you often write in with, I sometimes think that you are as intellectually challenged as that all time forum thicko, Mr Pig.

Mick

Now this is the kind of post that I enjoy reading here. This forum has provided me with quite a few laughs over the years, and few better than Mr Parry's excellent parody of the BBC program "The Archers'" Matt Crawford.

Rockingdoc

People like us owe it to Naim as well as the other forum members to keep bits of ruff such as jasons out of the place.

In the good old days, one could rough them up a bit and they would bugger off over to the Mana forum where their sort belong. Unfortunately such days are long gone.

I regard this forum as a club where one can relax with ones like. I know we have Berlin Fritz and a few other useless toe rags around but overall we are a decent bunch of chaps.

Remember, one rotten apple can ruin a barrel.

Regards

Mick

And what exactly gives you the casting vote on what's 'rotten' or 'bits of ruff'?

Does not your continued victimisation of certain individuals expose you to the same accusation?

If you treat people badly enough they'll sod off and leave you alone? Pah! I'm extremely pleased that they don't and that you continue to 'suffer' their existence. What an insufferable place this'd be if everyone was like you.

Surely you could be a little more tolerant, after all, we tolerate you.

Phil

Phil

Never attempt to defend the undefendable, you are onto a loser if you do.

There is nothing wrong in getting rid of undesirables.

Regards

Mick

Mick,

I'm not defending anyone, merely questioning your right to dictate who belongs on this forum and who doesn't.

I agree that there's nothing wrong in getting rid of undesirables, but undesirable to you may be perfectly acceptable to others.

In being so imperious about certain people not belonging here, you're in danger of becoming an undesirable yourself, that's all.

Phil

Phil

Most of us have a good idea on who are the undesrirables. Do not feel remorse for them, just help boot them out.

Regards

Mick

quote:

Originally posted by Mick Parry:
Phil

Most of us have a good idea on who are the undesrirables. Do not feel remorse for them, just help boot them out.

Regards

Mick

If only i had nothing else to worry about than to get rid of people from a forum. God, what a sad existance.

jasons

I do not worry about you. I compare you to a fly. I swat you and then forget about you but also feel good about ridding the world of vermin.

I look forward to seeing you try.

Entertaining though this banter is, back to the subject in hand. As mentioned on a previous thread, I pay an Independant Financial Advisor to look after tedious stuff like inheritance tax, so that I can spend (waste?) my time doing other things.

I have a sporting team mate who is a 'tied' IFA. A while back he waxed lyrical one night about how he had saved a fortune for a client setting up a trust to avoid IHT. He could of course do the same for us at a price. The trust he set up was subsequently abolished retrospectively by Gordon Brown. I believe Gordon will eventually do away with all tax avoidance trusts, retrospectively, and all we'll be left with is ownership as tenants in common as a vehicle.
But hey, I'm no IFA so what do I know?

Recent IT changes...

http://uk.news.yahoo.com/09062006/325/brown-backtracks-...-iht-trust-plan.html

Phil

A very minor change on when kids can inherit I believe. Still done away with several trusts during his tenure.

Tell that to the ones who obfuscate when asked.

What are the holes in this scheme?

The bequeather opens accounts, in his/her own name but with a specific beneficiary in mind for each, and acquires a withdrawal card for each. The bequest is then deposited in each account.

On the bequeather's death, the beneficiaries are given the withdrawal card and PIN to access their account. The various Banks and Societies wil be blind to the death of the account holder for a long period, in which time the account can be cleared out, less some tiny residual to keep the account notionally 'live' and avoid the documentary complications of actually shutting it down.

Obviously the executor(s) have to be in on this and there need to be 2 wills - one for public lodging and the other to establish which beneficiary gets which card.

If the bequeather finds they need the money themselves or simply goes off an intended beneficiary, they can simply strip the account themselves.

Fraser