LPA

[Deleted User]

We have a progressive taxation and benefits system which is there to ensure that people give and receive according to need and ability to pay. It may not be perfect at all times but generally it works.

It was your choice to have your children privately educated. In any case the independent education sector benefits from 'charitable status' which means we the taxpayer are probably subsidising some of their activities.

Maybe you have not taken benefits directly but you have driven on the road system, probably used a train, had use of the NHS, been protected by the army and police and so on.

Most people on benefits receive them correctly. Not everyone can have a high paid job and accumulate large savings and pension funds. The number of people who never work to deliberately 'milk' the system  is very small whatever some sections of the press may try to infer.

I suggest you some  read other sections of this forum to have your eyes may be opened.

Unfortunately it seems you may have been happier living in an earlier century and been content to see the workhouses in operation.
Perhaps you need to read some Charles Dickens?

Kirkmain

Floss said:

Kirkmain said:

Albermarle said:

 But theres a also a chance I get a nice home without having to pay. 

£1.8 Million and you want a cash strapped council to divert funds from areas of real need, so you can get a free place.
I think there is a name for such behaviour.

I've paid more tax; income, dividends, inheritence, council etc... than anyone who might get it on the LA for free. I have never taken a penny in benefits (apart from child benefit), my children went to private school so I saved the LA money that way.

How is that fair that I/ my family  would have to pay wheras those who have never worked and been supported on benefits with my taxes would get it for free?

If you are intent on not spending your money on care fees and avoiding IHT, what DO you plan to do with your wealth? 

where do i start? piano and riding lessons for my grankids, their private school fees, summer holiday activities, holidays with the family, perhaps even the occasional business or first class flights, meals out, getting the car replaced, birthday event hosting, Birkin handbags as special birthday presents for my daughter, rolexes for the SoL when he gets a promotion etc.. etc.. etc..

There are literally a million things i'll rather spend my money on then care and inheritence tax

Kirkmain

[Deleted User] said:

We have a progressive taxation and benefits system which is there to ensure that people give and receive according to need and ability to pay. It may not be perfect at all times but generally it works.

It was your choice to have your children privately educated. In any case the independent education sector benefits from 'charitable status' which means we the taxpayer are probably subsidising some of their activities.

Maybe you have not taken benefits directly but you have driven on the road system, probably used a train, had use of the NHS, been protected by the army and police and so on.

Most people on benefits receive them correctly. Not everyone can have a high paid job and accumulate large savings and pension funds. The number of people who never work to deliberately 'milk' the system  is very small whatever some sections of the press may try to infer.

I suggest you some  read other sections of this forum to have your eyes may be opened.

Unfortunately it seems you may have been happier living in an earlier century and been content to see the workhouses in operation.
Perhaps you need to read some Charles Dickens?

I understand how tax is necessary, but how can any reasonable intelligent person think its fair to tax savings or use them to pay for care when the people who earned those savings most likely already paid the most tax in the first place.

MarzipanCrumble

We have told you how to mitigate against excessive IHT and/or CGT and/or Care Home Fees.  Use some of that wealth to pay for advice - that is what really rich people do, which is why they probably don't pay IHT etc, etc.

Look on it as an 'investment' just as your gold bullion, jewelry, buy-to-lets etc.

You are lucky that - at this instance in time - you have the option of choice, real choice.  Not many do.

DT2001

Umm, our estate will be subject to IHT unless the limits change. We will help our children but not so that we are reliant on them if needs be later. How do you know that your children will invest or marry well?
If there wasn’t IHT, which some see as unfair as it potentially taxes money already taxed (a high % estates is property related which can be untaxed capital gain), there would need to be an increase in another tax.
My mother needed care, at home and in a home. I was very pleased that she had the sale proceeds of her property to enable us to find a good quality home. The fact that it reduced our inheritance was of no concern to us.