|
19 Nov
6:34pm, 19 Nov 2024
33,427 posts
|
Johnny Blaze
So I could buy 200 acres for 5 mill and dodge IHT or buy a 3 bed flat in Hampstead for the same amount and pay lots of IHT?
I need to consult my accountant on the best course of action.
|
|
19 Nov
6:41pm, 19 Nov 2024
1,512 posts
|
Fenners-Reborn
My heart bleeds for the cash poor, asset rich farmers. Would they like to swap with zero cash, zero assets that represents a massive proportion of the country?
And they, the farmers, are the only ones that work hard? Give it a rest.
|
|
19 Nov
6:53pm, 19 Nov 2024
33,428 posts
|
Johnny Blaze
Clarkson didn't look too happy at being reminded today of his boasts about the tax advantages of buying his farm.
|
|
19 Nov
7:00pm, 19 Nov 2024
30,189 posts
|
richmac
I am stereotyping here, sorry not sorry, all the accents and dress of 'Farmers' at the protest interviewed didn't give the slightest impression that any of them were your actual horny handed sons of toil.
Also, farm are businesses right, so all they need is some creative accounting to make the estate worth under the threshold.
It's not like Dyson types have never undervalued an asset when it suits them is it.
|
|
19 Nov
7:14pm, 19 Nov 2024
9,997 posts
|
simbil
Just watched Clarkson talking to the beeb. This guy buys a farm and calls it diddly squat and says it is to avoid tax (get it?), and gets angry because that is pointed out to him.
Answers by saying he'll still avoid tax anyway by putting it in trust (presumably something to do with gifting it and not dying for 7 years so to avoid inheritance completely).
Why any working farmers would suffer this twonk is beyond me - an enemy of my enemy is my friend and all that, but this guy??
|
|
19 Nov
11:03pm, 19 Nov 2024
26,142 posts
|
larkim
Gifting and not dieing within 7 years is the simplest way for anyone to avoid iht once thresholds are used up. No trusts required. You just have to ensure that you really do give the asset away.
|
|
19 Nov
11:18pm, 19 Nov 2024
18,141 posts
|
jda
Yebbut if you actually gave wealth away to your children when they were young enough to actually make use of it how would you use it to control them?
|
Fantasy General Election
Jul 2024