Mum's inheritance doesn't stretch to a house... help!

lewt

so how much tax has been paid on 850.000 ?

Doozergirl

epz wrote: »

i really hope you are joking 250k is still a lot of cash even these days and frankly its insane to think taxpayers money should be wasted subsidising nice people because they want to live in an expensive house somewhere nice.

Sensible post considering that the OP's mother and her sister have just forked out 40% tax on an estate worth £850,000?

Then considering that if the OP's grandmother had died two weeks later, that tax the bill would have been greatly reduced?

Think not.

lewt

40% omg!!!!! so if i have a mil on the way in the future i have to give 400.000£ !!! ?

epz_2

Doozergirl wrote: »

Sensible post considering that the OP's mother and her sister have just forked out 40% tax on an estate worth £850,000?

Then considering that if the OP's grandmother had died two weeks later, that tax the bill would have been greatly reduced?

Think not.

we wouldnt need so much tax if everybody didnt think that the govenment owed them something, 50% of my wages go on tax and i think i am a nice person, i cant afford that mansion i want so the government should step in and help me.

lewt

i wont be paying that death tax i think my parents have paid enough while they are alive......

lynnexxxo

While it does seem a bit much to lose 40% of the families inheritance to tax, the OP's parents still have 1/4 of a million.

And the OP is asking if there is any government help available? Come on, are you having a laugh?

dmg24

Rightmove is back ...

These look quite lovely, and are ground floor so suitable for someone getting on in years ...

http://www.rightmove.co.uk/viewdetails-7646916.rsp?pa_n=1&tr_t=buy

http://www.rightmove.co.uk/viewdetails-9598434.rsp?pa_n=1&tr_t=buy

Or this stunning apartment in a converted mansion ...

http://www.primelocation.com/uk-property-for-sale/details/id/HALILPK070236/

Or a three bed house?!

http://www.rightmove.co.uk/viewdetails-17848049.rsp?pa_n=1&tr_t=buy

Obviously I cannot comment on the area, but the above shows that properties are available within the given price range.

Many of us do not live in our ideal home, maybe some compromise is needed?

Curv

Surely, the fact that so much tax was paid was down to the reluctance of the OP's grandmother to make adequate provision to protect her family? Whilst it's a shame, I can't see why the taxpayer should subsidise it.

PasturesNew

lewt wrote: »

40% omg!!!!! so if i have a mil on the way in the future i have to give 400.000£ !!! ?

Yes, but you won't. Your spelling clearly identifies you as "peasant class" so no fortune for you.

louidog

lynnexxxo wrote: »

While it does seem a bit much to lose 40% of the families inheritance to tax, the OP's parents still have 1/4 of a million.

And the OP is asking if there is any government help available? Come on, are you having a laugh?

I was wondering what I had missed here too!