Paul Higham

Vimto enthusiast.

[Paul Higham @pjh_grumpy]

@TLRailUK - what alternatives can I use for Huntingdon to London given next 4 trains are cancelled?

[Paul Higham @pjh_grumpy]

@AvantiWestCoast - a quick note of thanks to the ticket agent at Euston who moved our seat reservations, at about 30 mins notice, onto an earlier train from Euston to Lime Street today. Much appreciated.

[Paul Higham @pjh_grumpy]

@Britwarmemorial Almost all the names are of people killed in an air raid in May 1943.

[Paul Higham @pjh_grumpy]

@Britwarmemorial - a https://t.co/0JsojLRnSP common is it to have civilian names on war memorials, as at this on in Southwold, Suffolk?

[Paul Higham @pjh_grumpy]

@ZymurgyZo @DanNeidle Currently dealing with neighbour’s estate. If all shareholdings sold then beneficiaries receive cash which is then taxed on basis of use. If shareholdings reassigned, then taxed as shares (dividends and CGT).

[Paul Higham @pjh_grumpy]

@ZymurgyZo @DanNeidle See what you mean. Not sure. When I inherited money from mum’s estate after paying IHT I paid no further tax, save for any derived from reinvesting any surplus once the rest used on house improvement. Poss dependent how the asset is transferred - ie liquidated or original form

[Paul Higham @pjh_grumpy]

@ZymurgyZo @DanNeidle At the moment there are certain approaches to HMRC takes to help (can take from bank accounts / any holding in govt gilts) but this is not going to work going forward.

[Paul Higham @pjh_grumpy]

@ZymurgyZo @DanNeidle Executors are on the hook to pay IHT, and then have to recover from the estate once probate is granted, which is only after IHT has been paid. At the moment it’s bad enough to be in this position, but now ladelling on many £000 potentially makes the burden far more extreme.

[Paul Higham @pjh_grumpy]

@ZymurgyZo @DanNeidle Depends on the income achieved and tax levied. £100 at 40% leaves £60. £60 at 5% yields £3 income. At marginal rate of 40%, tax is £1.20. So first year tax is just over 41% on the £100.

[Paul Higham @pjh_grumpy]

@ZymurgyZo @DanNeidle There is already income tax on income from inherited pensions (ISTBC) if the deceased is aged 75+.

Another “interesting” issue is what happens if an estate’s executors are not beneficiaries.

[Paul Higham @pjh_grumpy]

@ZymurgyZo @DanNeidle Also, tbh, I don’t think *that* many people were aware of the IHT exemption for pensions in the first place.

[Paul Higham @pjh_grumpy]

@ZymurgyZo @DanNeidle Won’t it be (£2.5mn - (£650k + £100k*)) *40% so £700k on 2nd death? Still a big hit that the farmer furore is diverting attention from.

* £100k the combined nil rate band for property (still in place) of £350k less the taper of £250k?

Only an amateur’s reading, so ISTC.

[Paul Higham @pjh_grumpy]

@ElectionMapsUK @sturdyAlex Given that most of working age will have DC pension schemes, interesting that the fact that they will now fall into the estate for IHT isn’t an issue…

[Paul Higham @pjh_grumpy]

@DBentleyMiller Fruit

[Paul Higham @pjh_grumpy]

@fenlandgent This is the daughter who is now asking for photos to put up in the nursery so that her first born will feel connected to family…

[Paul Higham @pjh_grumpy]

@21June1978 @MrMichaelSpicer 👍 for the Jutland St reference. Steep and skiddy.

[Paul Higham @pjh_grumpy]

@chrisdaleoxford I’ve managed to remove security tags on clothes…but never tackled this. There are a few videos on how to do it, and only one or two involve a chainsaw and blowtorch.

[Paul Higham @pjh_grumpy]

@LiverpoolVista Lovely, but to my mind not as striking as The Vines..

[Paul Higham @pjh_grumpy]

@LiverpoolVista Passed by late last year…

[Paul Higham @pjh_grumpy]

@Churchill I’ve now been sat on the phone for over 60 minutes to correct an error in a card payment for a home insurance policy. Is there any other way I can make the card payment?