Chit Chat
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01 Jul 19
11:34
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Date Joined:
21 May 10
That's Lifetime Gifts Tax.
Each child would pay tax on everything their parents give them before or after death, above a lifetime allowance of £125k.
Presumably that would include 18th and 21st birthday presents and contributions to the cost of a wedding.
Each child would pay tax on everything their parents give them before or after death, above a lifetime allowance of £125k.
Presumably that would include 18th and 21st birthday presents and contributions to the cost of a wedding.
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Replies: 11
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edges need smoothing out ,limit needs raising but in principle far better than the non inheritance,no one with half a brain or any planning pays inheritance tax,thats without the very rich employing creative accountants
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So how much did you get for your 18th & 21st & also every other birthday & xmas, engagement, marriage etc, so now you are asked at say the age of 60 to remember all that, it's utterly ridiculous, even the inland revenue can only go back six years to find out money recieved, it can't work & it's badly thought out, in fact I'm surprised it's proposing 125k I would have thought Labour would have made the threshold about 10k!
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Agree that the threshold is far too low.
Birthday presents Xmas presents Help through higher education Weddings Driving lessons / first car Help with first home The above could easily run to over £75k |
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" so how much did your parents give you for your marriage in 1980 "
Well it could have been £100 or £10,000, how is anyone going to prove it was either ffs !!! |
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I wonder if they would include school fees. They alone could swallow the allowance.
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My mum gave me a fiver to go & see Jaws in 1975 up the West End I had better add that to the list
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not agreeing with the wrongs and rights of it but its designed to bring some meritocracy back to life chances,education,world of work/jobs,i.d have thought schools fees would be right up there
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It will be interesting to see how this goes down with Corbyn's young, middle-class supporters.
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The far left have somehow managed to get within touching distance of number 10, but ultimately having one of their own on the threshold of being PM will be their undoing & policies such as this & their views on Brexit among others will all take a bite out of their electability.
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Thought this was a wind up til reading the whole thread where's the head in hands man?
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I hope its easier to digest than the Labour BLT that Ed Miliband tried.
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