Tory inheritance tax plan

they look after their own.

Its a middle class policy that will benefit the SE disproportionately. I suppose it will benefit a lot of Teachers and Police etc or at least their beneficiaries.

Its a bit of a gimmick anyway cant see that its going to cost much.

good policy, inheritance tax is theft.

IHT has its place I think. the problem is the rich never ever pay it whereas people with a decent house in certain areas are now dragged into it.
What it needs is total reform. Shame Labour wont do that but then Miliband does like his IHT loopholes.

They`ll dump the inheritance tax for themselves and introduce a new tax to cover the deficit by making it law that ordinary people inherit any debts that their parents owed on death.

Thats just being silly.

IHT should be 100%.

Why should lazy kids benefit?

loads of us in the south where house prices are sky high

come on mightymac you are better than that

any of the familys that cameron says he wants to help by passing the house down the chain can do so quite easily by putting the house in their kids names,or in trusts etc,to pay for this their getting less tax relief, if osbourns and cameron hadnt put their size 9,s in it to try and appease would be kippers,most of those involved would be getting the best of both worlds on inheritance tax and pensions relief,another osbourne con where a tax cut is been payed for by those who benefit from it,net loss for most,they,ll be spitting feathers in the shires

tax break for the richest 3% that it covers

Not good publicity and a bit of an own goal.
I agree with Fredrescue. Free money should be taxed as income.

Why should you pay tax all your life and then make your family pay tax when you die.....total  liberty that you have to mess about with tax loopholes to leave your kids a bit of money that you've worked hard for......I lived for years in a khazi in London and the houses there are half a million.....not my fault I wasn't born in Burnley ffs

When money changes hands it's liable to be taxed even though the previous owner paid tax on it. Don't see why it should be any different just because the previous owner is dead.

you obviously have no property or children

You are wrong eyeball, I have both property and kids. The only exception I would make is for the spouse of the deceased if she is cohabiting.

I just don't understand how you would rather money you earned be given to somebody you don't know to send it where they chose instead of helping your children make their way in life .

Inheritance is one of the great sources of inequality. Taxing this money is not taking it all away, just a percentage as with earned income.
This tax money can be used to provide essential services for everyone or to reduce the tax burden on working people which includes my children. It is a fair tax as the wealthiest would pay the most, assuming loopholes are closed.

Or your money could be sent to some tin pot country in Africa where the dictator steals 95% of it to buy more arms from Western dealers to slaughter even more people and then decide to invade neighbouring countries and attack the task force from where he originally received the cash.......you have no answer to where the money goes , you just have to trust people who you wouldn't employ to sweep your front garden.....

A well-earned reward for hard-working houses.

No OAPs should ever have actually to pay for the unfunded pensions, benefits and healthcare they've awarded themselves, even after death. That is what young people are for.

It is a tragedy that so many OAPs are currently revolving in their graves as they contemplate how inheritance tax has forced their house onto the market. How can they face the prospect of some young family working hard enough to buy their house instead of their own offspring sitting on their arses and claiming it as a lottery win?

You can use that argument to oppose any tax. Why should my income be taxed...
Why should I have to pay VAT when I go shopping...

I`m leaving my house, which is worth a lot, to charity. All my family have decent jobs and have their own property so they don`t need any more money. I`d rather have the dough help people in need than spoil the lot of them. I am thinking of Deaf and Blind children hospital.

That's very charitable of you The MightyMac.
I would add to Screaming's argument that at the time many of the houses which are being passed on were purchased, the purchaser benefited from MIRAS whereby mortgage interest was set against tax, originally at the highest rate payable by the purchaser. Thus the house purchase was subsidised by the taxpayer many of whom could not afford to buy their home. Recovering some money through IHT is only the taxpayer getting some of this investment back.

Mac, I have 3 nephews and 4 nieces, the oldest one is 25. All of them are worth a million each now after Ma died in February although they wont see any of it for a decade. By then with property prices in London they are looking at an absolute fortune each. I'm not saying it's right as to my thoughts at least two of them will be completely ruined by the cash and will never work again. I totally get your point though.

House purchase is still subsidized by the taxpayer, many of whom cannot afford to buy their home, only this time the Tories call it Help To Buy 1, Help To Buy 2, Help To Buy ISA, Funding For Lending and Support for Mortgage Interest. All that is on top of Housing Benefit, aka "Help for Landlords", once again paid for by taxpayers many of whom cannot afford to buy their home.

If it's of any interest, my will leaves my house and all my assets to Ferne Animal Sanctuary, Chard.

I got completely overruled by the way by my siblings, only myself and my younger brother never had kids, not for the want of trying on my behalf but my wife just couldn't have a child and large amounts are now going to my siblings families which is going to cause an almighty $hitstorm in the future.

You lot do what you want but as I’ve been taxed to f all my life, there is ZERO chance of my assets going anywhere but to my nearest and dearest when I croke and F all tax will ever be paid on it again via inheritance tax.
Besides while there is still cash, assets such as gold coins etc etc and because of the 7 year rule, provided you trust your nearest and dearest it’s very easily LEGALLY AVOIDED. Same as what my old man has done already.
I couldn’t give the vaguest f re any bleating about being selfish or anything else either as all I hear with that is “give us your money”

It`s just my personal viewpoint slippy, I am not for one minute criticising anybody else, it`s entirely up to the individual. I`ve seen so many families fall out over the years following arguments about inheritances. Some people can`t handle money, some can and won`t change, others will.

Will you be voting Conservative pawras? (or UKIP perhaps).

Politicians, on all sides, are for the most part self serving c&&ts, but I’m certainly no socialist by a far bit.
If you think my efforts are going to be largely for the benefit of others, something like Boxer out of Animal Farm, you definitely have another thing coming.
When it comes to near crunch time if for some strange reason I can’t circumnavigate IHT (which I very much doubt to be honest) then I’d rather blow it (up my nose in vegas in necessary) than let the government get their hands on it.  As far as I’m concerned it’s had enough lumps hacked off via tax as I’ve earned it thank you, so the government ain’t seeing any of it, regardless of who is in power.

It's quite funny but equally annoying to know that that there's about another whole month of each party rolling out weaker and more and more contrived crap to try and tempt the electorate.
They run a query over their own database algorithm and come out with another superficial policy and a whole lecture so spin to go with it.
What's next, a rebate for those buying pomegranates from Waitrose on Wednesday afternoons?

Personally I believe the Tories shouldn't be allowed to mention anything else until they answer the question of where the 20bn in cuts will be found.
It's rather like saying ' you voted for us knowing we would cut' ....but not explaining it might be your throat.

if you are an elderly person living in a council house,worked all your life in low paid jobs,the tories would never let you pass the house down through the family

Anybody who lives in this **** of a country should be determined that the government should get as little of their money as possible. As for the people who live here many thousands would be happy to see Britain destroyed, it is best to not consider yourself British and keep yourself apart from the insanity...vote UKIP.

Ed balls the nincompoop just been on the news.
So hard listening to that guy, he's got his own brand of riddles.
They are all double speaking maggots, they can't blame anyone but themselves as a collective if voters are repulsed by complete mistrust or lack of confidence.

Pandora - that's because renting does not equal owning

No, renting is paying off somebody else's debt.

Plus a middleman 'management' fee for shuffling papers and generally taking out as much as they can for as little input as possible.

Yeah and so what?  Oh yeah I forgot there's plenty on here that think landlords all have 666 on their foreheads LOL

Here's some stats at key dates for people to ponder

Year	National Debt (billions)	% Change On Prev Year ie rate of increase/decrease	National Debt %of GDP	% Change On Prev Year ie rate of increase/decrease	Public Spending Billions	% Change On Prev Year ie rate of increase/decrease	Public Spending % of GDP	% Change On Prev Year ie rate of increase/decrease
1979	86.88	9.72%	43.61	-6.74%	85.17	18.37%	42.75	0.61%
1997	348	8.04%	41.93	1.77%	308.37	1.33%	37.15	-4.57%
2001	312.4	-9.55%	30.58	-13.57%	366.09	7.42%	35.83	2.64%
2008	525	5.00%	36.61	2.92%	582.23	5.98%	40.61	3.92%
2010	759.5	23.12%	52.08	17.67%	673.1	6.20%	46.15	1.50%
2015	1355	7.71%	78.76	2.74%	731.36	2.44%	42.51	-2.30%

for the % change on prev year columns to make sense you'd have to look at the full table in
http://community.betfair.com/politics/go/thread/view/94150/30474145/osborne-has-created-more-new-debt-than-every-labour-goverment-combined

but basically public spending as a % of gdp is probably going to have to come down to into the mid 30s

You don't have to think landlords to be satan to know that buying zero equity in the property that the landlord only 'owns' because he was encouraged to mortgage so that the financial sector can then buy and sell that debt for another ethereal 'profit', is bad value for those that can't get involved.

demand outstrips supply for housing by an anual shortfall of approx. 70k

when I looked into buy to let you needed about 25-30% deposit, how is that zero equity?

management fees only come into if you don't manage the property yourself

also a large % of buy to let landlords only have one property and it's as their pension plan, many of whom have gone in that direction because the private pension scheme was fkd by Gordon Brown via the big tax grab he did and as such it taught many an important lesson i.e. don't have your money tied up in anything that isn't completely under your own control

yeah demand was bound to outstrip supply when blair/brown opened the immigration door allowed millions and millions of extra people to pitch up, many of whom low and semi skilled wanting to suck the welfare teat.

No bigger suckers on the welfare teat than landlords via Housing Benefit.

In second place come your salt-of-the-earth indigenous UKIP fans on welfare from cradle to grave.

Tailing off are migrants who come here to do sh1t work for sh1t wages and support the indigenous population in the lifestyle to which they reckon their birthright entitles them.

What so you don’t expect landlords to charge rent? And before you start crying about mortgage tax relief, it’s business for dummies that if you are being taxed on profits (rent income) then you can offset costs against those profits (mortgage interest, maintenance etc etc)

I would however deflate the housing bubble by chopping housing benefit.

Selling off municiple housing and a distinct apathy to fund new builds doesn't help either.

Zero equity was meant to refer to the bad value imposed on the tennent on an asset that isn't even owned by the landlord in most cases.
So there is a vested interest to have a shortfall in supply to force up demand and prices, for those involed there is potential profit, but at the cost of those than are forced out.

we wouldn't have such a shortfall if population growth hadn't gone up quite so dramatically thanks to importing so many extra millions

So that enterprise can have the minions to do the work they wouldn't do themselves.

There's a demand for housing but they arnt supplying it, so why does profit seeking enterprise get appeased with the supply of cheap labour to force down rights for workers on the wave of shareholder value maximisation?

You can’t just concrete over the uk because millions of extra people have turned up.
You are still avoiding the fact blair brown opened the door thus exacerbating the demand and vs supply issue.

You talking about tory Blair?
The wolf in sheeps clothing?

The one who carried on the tory ideology under the pretence of 'new labour' only to create a culture of spin merchants and quangos to flavour the bull5hit to make it look like they are giving people what they wanted?

On the issue of 'concreting' over vast areas of the UK.

Well there is still a massive disparity based on aristocratic landownership.
Over a third of real estate is owned by the extreme minority.

The enclosure act of the late 18th century carved up communal land and handed it to those who had been little more than loyal. Look through all of english history, cliques got rewarded for supporting tyranny with land.
Or they made shed loads as the contemporary nouveau riche generally by doing I'll gains.

So really we could concrete over plenty more. Sure people get vocal about their own backyards and green field, but that never stopped Tories attempting every chance they have ever had to sell off forests et Al to chums.

There are too many houses already, and too many people. Stop building houses, stop allowing millions more into the country, and tax people who have more than one child.