Cabinet Minister avoids Inheritance Tax

[Ex-Grenadier]

The Daily Mail has an article that states that Cabinet Minister David Miliband is living in a £1.5 million London townhouse at the centre of a complex inheritance tax avoidance scheme Gordon Brown has pledged to ban. Mr Miliband is a typical Labourite sponger, milking the system for as much as he can, without an inkling of fair play to the people of this country. You can read the article here

Wouldn't it just be better to scrap Inheritance Tax?

 

[radioactiveman]

I can't see that he's actually done anything wrong. He's only done what other people try to do in order to offset what is a blatantly unfair stealth tax. The threshold for inheritance tax has barely risen for years, certainly nowhere near enough to keep pace with property prices.
However, that said, once again it's they are a typical example of the left wing 'do as I say, not as I do' types - supposedly radical socialists content to bleed others wherever possible yet look after themselves. Country cottage in Oxfordshire indeed!

 

[Ex-Grenadier]

I can't see that he's actually done anything wrong. He's only done what other people try to do in order to offset what is a blatantly unfair stealth tax. The threshold for inheritance tax has barely risen for years, certainly nowhere near enough to keep pace with property prices.

I agree with you on all counts here ram. I don't suppose he'll have the guts to propose to Gordon Brown that the Inheritance Tax should be scrapped, thus ensuring even Cabinet Ministers don't have to find ways and means of avoiding same.

 

[Zulu_w]

Here is a thought. Everyone seems to be getting all hot and flustered about inheritance tax.

Being quite selfish I am not sure why. This does not benefit you. You will be dead.

As I see it give me a tax break on my mortgage payment. Cut stamp duty. Make it easier for me to own a house. Ensure that my partner gets the benefit when I die if it is before her.

Afterwards recoup the tax advantages from my off spring as they should really have to work for themselves and not have it all handed to them on a plate as a result of my efforts. Character building and all that.

They still get an inheritance but the tax man gets his slice at an appropriate time as far as I am concerned.

I get to own a house to live in more easily. We all then should be happy??

 

[rockhoppercrab]

Gosh a Liarbour politician with his snout in the collective trough, thats Plaid Cymru getting my vote in May

 

[Blogg]

Oh dear me! What he is being accused of amounts to his parents daring to have bought a house many years ago in Primrose Hill that was subject to rampant price inflation

"Complex avoidance scheme" my Arrse. It is simply using the reliefs and basic rules of Inheritance Tax to arrange family affairs to eliminate a Tax charge on a theoretical gain. Entirely legal and if there is any thing wrong it is the concept of Inheritance Tax hitting families in such circumstances.

Friend of mine is sorting affairs of his mother out and has been advised that because his parents declined to do anything in the way of planning it is almost certain he and his brother will be forced to sell the house that has been in the family for 105 years or raise a very large sum by way of mortgage just in order to fund the Inheritance Tax charge. Now that is wicked.