I have been sorting out my kids inheritance tax after their mother passed 6 weeks ago.
What a nightmare and so unfair in every way.
1. Gifts going back 7 years taxed at 40%. 7 years if bank statements.
2. 6 months to pay IHT bill whilst burying, grieving, getting valuations, gathering 7 years bank statement, 6 months of bills, prepping house for sale (to pay the tax they have to sell their home), court then probate, selling the house. Just 6 months to do this or 7.5-8.5% interest applies!!!
It’s an impossible target to meet.
3. Content valuation of table chairs, pictures and ornaments taxed at 40%
This is money she paid a huge tax bill on just 3 years ago after my 32 years of work building a business and giving out over 5,000 jobs. Now just 3 years later another 40% (after tax free amount £325k jointly).
It’s theft in every way.
My kids (young adults) life horrified and created a lot of anxiety trying to get things valued and sold whilst burying their mother.
Disgusting @Keir_Starmer a disgrace the human race and my country. Get out or get thrown out.
@chatswithem@GBNEWS I thought he took a “wrong” turn, started driving against the flow of people, people start banging on his car and then he gets angry and drives through the crowd.
I assume this is wrong though.
Can some tell me what actually happened?