money from mum as a gift

Tiggs_2

Cook_County wrote:

I am sorry, but I find your post offensive and one you should apologise for. How dare you call another poster's statement "drivel" - not once but twice - and then call yourself a professional!

Offensive perhaps, but accurate. The post by LOST is wrong in many, many ways.

The OP seems to be under the nil rate band so IHT is a NON ISSUE....yet LOST has posted a lot of info on the subject, none of which is correct. So its unrequire and incorrect (perhaps drivel is a professional term used by Chartered Tax Advisors to describe such events )

poppy_f1

thanks everyone
some good info here and i'll explore things further when the time comes, least i know there wont be too much hassle with the taxman

Petmidget

Maybe its a bit up front but SH*TE is SH*TE no matter how word it.

DRIVEL( maybe its drivvle), TOSH, or COBBLERS

I wont apologise for correctly something which is factually incorrect by a massive margin.

Tiggs_2

Al_Mac wrote:

the person you have a go at today, might be the only person that can help you tomorrow
Al

lol....petmidget no doubt thinking that highly unlikley

LOST

LOST wrote:

You should consult some professionals on which approach(es) would best suit your needs.

Very important line I had posted - I have not claimed to be a professional so I have accordingly posted that professional advice should be sought.

It appears that my knowledge is a bit murky and I do appear to be LOST on the topic - but one thing I did make apparent is that it is a complex area.

Mikeyorks

Cook_County wrote:

other posters are only trying to help - even if they get confused over tax and finance as many of us do.

People come on here (presumably) for intelligent advice?

So ... how is it 'help'ful if responses are totally inaccurate. And not even prefaced by 'I think' or 'it is my opinion'??

In my opinion - bad advice .. is worse than no advice at all.

Tiggs_2

LOST wrote:

Very important line I had posted - I have not claimed to be a professional so I have accordingly posted that professional advice should be sought.

Not quite, you posted a serious of statements with no mention that they were only your assumed opinion.

You then said "You should consult some professionals on which approach(es) would best suit your needs."

Most people would take your post to mean that you knew your statements to be correct and the professional was required to implement any action based on those statements.....in fact, your statements were all wrong.

If you arent sure on an issue its a very wise idea to start of by making that clear, to just dive in with "its like this...." is a little missleading, more so on here as there are plenty of experts that dont need to add such disclaimers and for you to do likewise perhaps suggests a greater level of expertise than you have,

LOST

I just a newbie - apologies for misleading anyone

BUT - no one (well not me anyway) would ever go on one individuals advice without seeking professional advice especially when financial advice is being sought on large sums of money involved.

It's a good thing that others get to see the posts and correct others' mistakes - so chill out guys, I had a few holes in my knowledge and now I know better...

Mikeyorks

LOST wrote:

.... now I know better...

Great.

However, a well meant piece of advice. Never put 'BUT' in an apology!;)

It kind of takes the edge off it.

LOST

I found out that my my confusion over IHT and lifetime charges were in fact to do with Trusts. A 20% lifetime charge on gifts made to certain Trusts is due and a further 20% if the donor dies within 7 years.