Another petition - time the Government did away with Inheritance Tax
01 March 2007, 09:40 AM
#61
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LOL it's risible when I hear people saying that people whose property is valued at £285k or whatever it is, are not rich. Bull****. Try asking those trapped in the rental market who'll never save the deposit needed for a mortgage or can't get the credit, and have no likelihood of owning even the tiniest home for themselves.
I agree with the inheritance tax. It's probably the only thing left that will keep property prices reigned in, and bearing any resemblance to what people actually earn. It's also bull**** to say it's unfair because it hasn't risen in line with house prices. Tough **** I say - if you've ridden the wave of huge rises in the value of your home I bet you're not complaining now... take the rough with the smooth.
I agree with the inheritance tax. It's probably the only thing left that will keep property prices reigned in, and bearing any resemblance to what people actually earn. It's also bull**** to say it's unfair because it hasn't risen in line with house prices. Tough **** I say - if you've ridden the wave of huge rises in the value of your home I bet you're not complaining now... take the rough with the smooth.
As I have said ordinary normal decent 'paid tax all their life' working people are in this position now, and that used NOT to be the case.
D
24 May 2007, 01:14 PM
#63
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What a total load of tosh, blah blah blah we will always rob you blind when you die and not let your kids benefit from what you have saved for them:
18p on fuel duty? Yes please i'll take that! I get taxed then when I choose to be taxed and not by the Government robbing from my parents estate.
Thank you for signing the e-petition calling for the abolition of Inheritance Tax.
The Government understands that paying taxes whether they are direct or indirect, on our income, savings or spending is not always popular. But people also know that, without the money raised through taxation, there would be no funds to pay for our health service, our schools, our police, our Armed Forces, our roads and many other services essential to our nation and quality of life. What Governments have to do is to try to ensure the tax system is both fair and efficient.
Inheritance tax, paid on estates worth over £300,000, is one way of raising funds for our public services. There is, of course, nothing new about estate duties. They have been in force, in one way or another, for over a hundred years. Inheritance tax - which replaced Capital Transfer Tax - was introduced in its present form in 1986.
No money or assets, no matter how much, left to spouses, civil partners or to charity attracts inheritance tax. No inheritance tax is paid on any estates under £300,000 or on the first £300,000 of estates larger than this. Above this limit, assets are taxed at 40%.
The result is that inheritance tax is paid by the estates of just 6% of those who pass away, around 35,000 estates this year. But the money raised, it is forecast, will amount to £4 billion this year.
It is important to emphasise that if inheritance tax or any other tax was abolished, either public spending would have to be cut or money would have to be raised elsewhere. The £4 billion raised from Inheritance Tax is equivalent, for example, to an increase of over 18p on petrol duty.
But while the Government has no plans to abolish inheritance tax, we do keep all taxes under review to ensure they remain fair and efficient. The Chancellor has already announced that the inheritance tax allowance, now at £300,000, will rise faster than forecast inflation over the coming years and will reach £350,000 by 2010/11.
Thank you again for signing this e-petition.
The Government understands that paying taxes whether they are direct or indirect, on our income, savings or spending is not always popular. But people also know that, without the money raised through taxation, there would be no funds to pay for our health service, our schools, our police, our Armed Forces, our roads and many other services essential to our nation and quality of life. What Governments have to do is to try to ensure the tax system is both fair and efficient.
Inheritance tax, paid on estates worth over £300,000, is one way of raising funds for our public services. There is, of course, nothing new about estate duties. They have been in force, in one way or another, for over a hundred years. Inheritance tax - which replaced Capital Transfer Tax - was introduced in its present form in 1986.
No money or assets, no matter how much, left to spouses, civil partners or to charity attracts inheritance tax. No inheritance tax is paid on any estates under £300,000 or on the first £300,000 of estates larger than this. Above this limit, assets are taxed at 40%.
The result is that inheritance tax is paid by the estates of just 6% of those who pass away, around 35,000 estates this year. But the money raised, it is forecast, will amount to £4 billion this year.
It is important to emphasise that if inheritance tax or any other tax was abolished, either public spending would have to be cut or money would have to be raised elsewhere. The £4 billion raised from Inheritance Tax is equivalent, for example, to an increase of over 18p on petrol duty.
But while the Government has no plans to abolish inheritance tax, we do keep all taxes under review to ensure they remain fair and efficient. The Chancellor has already announced that the inheritance tax allowance, now at £300,000, will rise faster than forecast inflation over the coming years and will reach £350,000 by 2010/11.
Thank you again for signing this e-petition.
25 May 2007, 12:29 AM
#65
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There is something more important to consider here. The National Health Service.
I hate IHT, it is against everything my parents and I have ever worked for, and my mother and I want to leave something for our kids to get on the property ladder and live a decent family life.
But if my mother has to go into a care home (likely) the government will take all her assets (savings, house the whole ******* lot) to pay for it. Recent TV documentaries have proved this to be illegal, but it's happening all the time.
Inhertiance tax is, frankly, the least of my worries right now. I just want the best for my mother and if there's anything left over, something to help my children.
Any helpful ideas gratefully recieved. Thanks
Richard.
I hate IHT, it is against everything my parents and I have ever worked for, and my mother and I want to leave something for our kids to get on the property ladder and live a decent family life.
But if my mother has to go into a care home (likely) the government will take all her assets (savings, house the whole ******* lot) to pay for it. Recent TV documentaries have proved this to be illegal, but it's happening all the time.
Inhertiance tax is, frankly, the least of my worries right now. I just want the best for my mother and if there's anything left over, something to help my children.
Any helpful ideas gratefully recieved. Thanks
Richard.
25 May 2007, 08:15 AM
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Little boy goes up to his grandad and asks if he likes Gordon Brown. Answer "no".
Little boy then asks grandpa if he can make a noise like a frog. Grandpa asks why.
To which little boy replies "Cos mummy says when you croak Gordon Brown is going to get a lot of money"
Little boy then asks grandpa if he can make a noise like a frog. Grandpa asks why.
To which little boy replies "Cos mummy says when you croak Gordon Brown is going to get a lot of money"
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