Comments on: Inheritance Tax http://www.gavpolitics.co.uk/blog/2006/02/15/inheritance-tax-2/ English, Rationalist and Liberal Conservative Fri, 21 Nov 2008 01:18:37 +0000 http://wordpress.org/?v=2.0.1 by: Gordon http://www.gavpolitics.co.uk/blog/2006/02/15/inheritance-tax-2/#comment-41776 Mon, 21 Apr 2008 16:25:06 +0000 http://www.gavpolitics.co.uk/blog/2006/02/15/inheritance-tax-2/#comment-41776 The arguments for changing Inheritance Tax are well rehearsed, as are the discussions around raising the thresholds for IHT. I think the most potent argument for either the rate to be lowered, IHT to be abolished or for the thresholds to be lowered are pretty strong. If I spend my working life working to provide a house that I wish to leave to my children, then surely my wishes should be acknowledged. After all I have paid tax in a multitude of ways already on the money that I used to buy the house: income tax, VAT, fuel tax etc. How many bites of the cherry does the Governent want? The arguments for changing Inheritance Tax are well rehearsed, as are the discussions around raising the thresholds for IHT. I think the most potent argument for either the rate to be lowered, IHT to be abolished or for the thresholds to be lowered are pretty strong. If I spend my working life working to provide a house that I wish to leave to my children, then surely my wishes should be acknowledged. After all I have paid tax in a multitude of ways already on the money that I used to buy the house: income tax, VAT, fuel tax etc. How many bites of the cherry does the Governent want?

]]> by: Adrian http://www.gavpolitics.co.uk/blog/2006/02/15/inheritance-tax-2/#comment-20489 Fri, 03 Aug 2007 14:19:15 +0000 http://www.gavpolitics.co.uk/blog/2006/02/15/inheritance-tax-2/#comment-20489 The sad thing is many people are either not aware of Inheritance Tax or go under the mistaken impression it will not apply to them. I have a vested interest in this as I run an Estate Planning company, but most people we see are astonished by what the potential bill their families will face would be if they had not done any planning. Don't forget your family will have to pay the Inheritance tax bill before they can get their hands on any of your assets! There are many legal strategies for avoiding this tax and for most people a large majority of the tax bill can be eliminated by the production of Inheritance Tax saving wills. My one piece of advice untill the government act and do away with this tax is make an informed decision, work out what bill your family will face when you die and remember you could die tomorrow then you decide do you want to do something about the biggest bill you are likely to leave your family with. If it helps we have an Inheritance Tax Calculator on our website and are happy to talk to anyone and help them understand the liability they are leaving their family with. www.gb-legal.com The sad thing is many people are either not aware of Inheritance Tax or go under the mistaken impression it will not apply to them. I have a vested interest in this as I run an Estate Planning company, but most people we see are astonished by what the potential bill their families will face would be if they had not done any planning. Don’t forget your family will have to pay the Inheritance tax bill before they can get their hands on any of your assets!
There are many legal strategies for avoiding this tax and for most people a large majority of the tax bill can be eliminated by the production of Inheritance Tax saving wills.

My one piece of advice untill the government act and do away with this tax is make an informed decision, work out what bill your family will face when you die and remember you could die tomorrow then you decide do you want to do something about the biggest bill you are likely to leave your family with.

If it helps we have an Inheritance Tax Calculator on our website and are happy to talk to anyone and help them understand the liability they are leaving their family with.

www.gb-legal.com

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