shoot and be safe Posted August 11, 2016 Report Share Posted August 11, 2016 I've just read on AAOC that no inheritance tax will be paid because it is claimed he died of "War wounds" from 23 years ago. £9 billion tax free. And good luck to them too Why should one man's wealth be drastically cut on his demise forcing his offspring to sell the estate to pay the death duties. His family seat shall now remain for his family to continue. I hope they don't make a mess of things and do continue with his goodness. I do also agree with Scully on the fact that I didn't know the gentleman personally so am not going to grieve for the chap. That being said, the man has lost his life and that is a sad time for his family and my sympathy goes out to them for their loss. Quote Link to comment Share on other sites More sharing options...
felly100 Posted August 11, 2016 Report Share Posted August 11, 2016 https://www.theguardian.com/money/2016/aug/11/inheritance-tax-why-the-new-duke-of-westminster-will-not-pay-billions This covers it. Quote Link to comment Share on other sites More sharing options...
Hamster Posted August 11, 2016 Report Share Posted August 11, 2016 Quite right too, if only the same could be applied to you and me - from the Guardian article : Britain’s generous trust law ensures that the country’s largest fortunes are largely kept intact. It's all about protecting the super rich and the ruling class, we're all being tucked up good and proper and wishing the old boy well to boot. You couldn't make it up. Why should one man's wealth be drastically cut on his demise forcing his offspring to sell the estate to pay the death duties.His family seat shall now remain for his family to continue. I hope they don't make a mess of things and do continue with his goodness. Quote Link to comment Share on other sites More sharing options...
AVB Posted August 11, 2016 Report Share Posted August 11, 2016 Quite right too, if only the same could be applied to you and me - from the Guardian article : Britains generous trust law ensures that the countrys largest fortunes are largely kept intact. It's all about protecting the super rich and the ruling class, we're all being tucked up good and proper and wishing the old boy well to boot. You couldn't make it up. You can set up a trust if you wish. Nothing stopping you. I know a lot of people with relatively small amounts of money (compared to the Duke of Westminster) who do so. The only thing to consider is the cost of administering the trust which eats into a significant portion of the holdings of the amount is small. Quote Link to comment Share on other sites More sharing options...
islandgun Posted August 11, 2016 Report Share Posted August 11, 2016 perhaps the question should be why should anyone pay IT, just dont have it ! Quote Link to comment Share on other sites More sharing options...
overandunder2012 Posted August 24, 2016 Report Share Posted August 24, 2016 Tax, such a dirty word lol Quote Link to comment Share on other sites More sharing options...
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