inheritance tax

[carnarvon]

can anyone tell me a simple way to avoid this tax?

[rosojoly]

Dont die , or else spend all your money ,good luck

[jake-the-peg]

You only pay inheritance tax on the part of your estate over �300,000 in this tax year

and that's going up to �700,000 by 2010

So if you're worth less than this you won't pay it.

If you're worth more get professional advise there are things that can be done with trusts but it's complicated

[baileybird]

let your kids have what you can afford to part with whilst you are still alive and see thehappiness it brings them xx

[fletcher.5]

I will gladly take any of your burden off your hands

[VillageVicar]

I recently celebrated the life of a gentleman who had, in my opinion, been almost obsessed over the idea of HM Gov't getting any of his assets. He wanted them to be divided among several charities.

As best I understand from the solicitor, four years ago, he bought property in Romania (prior to it being in the EU), changed his legal residency status to 'NOR' (not ordinary resident), and set up his home in Romania. However, he still kept the home in London, made up a B&B type brochure, which he never distributed and left it in the laps of his solicitors.

Although he never moved out of his house, he was trying to suggest he no longer officially lived there, but in Romania and he was only a visitor to his old home.

The estate is in the courts now. I'm looking forward to hearing what the result will be.

But I have thought, my goodness, what a palava he went through just to avoid having to pay taxes... But on the other hand, I've had to admire his creativity. I'll flag this thread and when I hear more about the outcome, I'll post the details here.

Best regards

Fr Bill