@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.
@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).
@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
@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.
@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.
@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.
@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.
@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.
@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…
@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.
@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?