inheritance tax

[GCN]

[sandyRoe]

Unless I win the lottery it is of no concern to me.

[4getmenot]

yep

[smurfchops]

Well I'm definitely not going to, so there.

[joggerjayne]

The Conservatives promised to raise the threshold, and they have sold out.

[cully]

Well, Sandy and others, you'd better get ready for this tax to hit you sometime in the future. Traditionally a tax which hits only 94% of us, the spiral in house prices over the past 15 years and the failure of the Tories to get in in 1997 (when there was going to be a quantum hike in the amount to take into account these price rises) means that a far larger percentage of the population is being hit by it at the moment after 13 years of NL. This hike to £1m by Cameron was simply intended to bring back the status quo of 20-30 years ago when it affected only a small minority. Unless Cameron can slip it in sometime in the next 5 years more and more people who would certainly not regard themselves as rich will get caught by it...

[joggerjayne]

I'm not rich.

I live in an area where property prices have soared.

It doesn't do us any good. If we want to move, we sell our expensive house, and try to buy an even more expensive house.

It's not as though we can spend the money !

(unless we move out of the area).

I have left my estate to various friends.

I have already paid tax on it all.

If I die, my friends will have to pay another £400,000 odd ...

... and, frankly, my friends would make much better use of the money than the effing Treasury !!

It really p!sses me off.

[sandyRoe]

To pay inheritance tax of 400K you'd need to have an estate of about 1.5 million. I'd say anyone who has that is rich.

[joggerjayne]

No ... just a flat in an area that has become desirable.