Is this a serious policy announcement or is it just a good example of a slimey politician telling us what we want to hear in order to get elected?
2007-10-06 08:19:39 · 9 answers · asked by Anonymous in News & Events ➔ Current Events
Elvis: The inheritance tax threshold is now £300,000 and you only have to pay the tax (at 40%) on that part of your estate which exceeds the threshold.
2007-10-06 08:57:30 · update #1
It is a serious policy and it is a good proposal. Under Labour millions of people have been caught out by this tax through no fault of their own. When someone dies, their entire estate, including property they own, is valued and if the total sum comes to above £250,000 then they are required to pay inheritance tax. The fact the IHT has not been readjusted to accomodate the astronomic rise in house prices in the last ten years is nothing short of a scandal. I bought my house for £100,000 two years ago, but it's price has increased so much in that time that if I died tomorrow, my benefactors would have to pay IHT which is surely wrong.
It nothing more than a tax on the dead and I think ti should be abolished altogether, but raising the level to £1 million is a good start and a very brave announcement by the Conservatives.
PS Yellow is the new Brown!
2007-10-06 08:52:04 · answer #1 · answered by slıɐuǝoʇ 6 · 2⤊ 0⤋
Cheap shot to gain popularity with the middle class Daily Mail readers in case an election was called.
IHT might need to be looked at, but why should anyone get a tax break from what would in effect be property speculation. I don't have a problem with raising the threshold on real earnings and cash assets, but gains from property values are not earned and just help to inflate property prices overall.
2007-10-06 08:29:15 · answer #2 · answered by Anonymous · 3⤊ 0⤋
Hard to say, don't they all say one thing then do another or find another way to swindle our earnings??? Finding it hard to trust any of them really, are any politicians 100% trustworthy?? I'm not likely to come into an inheritance nowhere near that so that's not a policy that is gonna affect me. Personally I think with the run up to any election they will tell the public what they want to hear. Now policies on human rights thats another matter.
2007-10-06 08:32:31 · answer #3 · answered by Only visiting 5 · 2⤊ 0⤋
I agree 100% with your answer from 'voice of reason'!
How is this 1 million exempt from tax going to affect the likes of me???
The average house price in London is around £230k, so if my old Gran has such a house, and leaves it to me, she also has to leave about another £750k on top of that to get this tax free 'thingy'?
Are you all mental cases???? Where do you all come from????
It is certainly no big deal to me or my Gran, just shows how easily folk can be led.
2007-10-06 08:42:01 · answer #4 · answered by budding author 7 · 1⤊ 3⤋
It should be raised!! (Doesn't really matter now - Brown has decided not to have an election - he's chickened out. Pity!! as there are so many of us in that bracket now - why should the government take what we have worked for all our lives ?
2007-10-06 08:23:54 · answer #5 · answered by Anonymous · 6⤊ 1⤋
The Tories are telling us lies. Do you really believe promises like that ?! Do you have a short memory ?! The threshold to one million Pounds ? LOLOLOLOLOLOL
2007-10-06 08:43:01 · answer #6 · answered by RED-CHROME 6 · 2⤊ 2⤋
lets hope it is true I and my parents have worked and payed our mortgages all our lives to leave our houses for our children so they can have a little extra why should the dole bludgers get any no one has ever helped me.Budding author I'd like to buy in london then as I have never seen houses that cheap.
2007-10-06 08:24:19 · answer #7 · answered by Anonymous · 6⤊ 1⤋
I don't trust anything politicians say
2007-10-06 08:59:52 · answer #8 · answered by Anonymous · 2⤊ 0⤋
It should be abolished. It is a disgrace. It is earnings that have already been taxed
2007-10-06 08:24:13 · answer #9 · answered by Chris 6 · 7⤊ 2⤋