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Savings and Investments thread
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If I did move away, I’d keep almost nothing in the uk, certainly sub £750kPragueAddick said:
If you do get serious about moving away, you'll want to acquaint yourself with the revised IHT rules for non-residents. This is what I've been focused on in the last few months. Basically, even though you are non-resident, you will still be liable for IHT on what they call UK-situs assets above your regular IHT limit. That would include your property as well as any savings and investments that are held in British institutions. Curiously, gilts are exempt from that, which is exactly why I've been buying a load of them in the last few months.Rob7Lee said:
The more of this I hear, the more it tempts me to move away from the UK.bobmunro said:Anyone else pick up on this (apologies if already posted).Lesson here - don't leave the large family home to your children. Significantly trade down or even sell and rent in older age.
that said, I’m seriously considering just taking on a decent amount of borrowing, buy my kids a house each and hope either my wife or I live 7 years. May as well be me paying the interest, then hopefully won’t be much left when I do pop my clogs and the family home would just have the debt my children would have had anyway, may even get away with no IHT.
otherwise as you say, would have to trade down in value.0 -
£200 on 95k joint holding’s.0
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We are also seriously considering this it is a mystery to me how our politicians can’t see what they are doing. We have worked hard and built a decent business over the last 40 years, never avoided paying tax and have paid a fortune over the years willingly but they are not grabbing what is ours having built it with money where tax has already been taken. All this program of trying to grab IHT will do is remove the £ from hereRob7Lee said:
If I did move away, I’d keep almost nothing in the uk, certainly sub £750kPragueAddick said:
If you do get serious about moving away, you'll want to acquaint yourself with the revised IHT rules for non-residents. This is what I've been focused on in the last few months. Basically, even though you are non-resident, you will still be liable for IHT on what they call UK-situs assets above your regular IHT limit. That would include your property as well as any savings and investments that are held in British institutions. Curiously, gilts are exempt from that, which is exactly why I've been buying a load of them in the last few months.Rob7Lee said:
The more of this I hear, the more it tempts me to move away from the UK.bobmunro said:Anyone else pick up on this (apologies if already posted).Lesson here - don't leave the large family home to your children. Significantly trade down or even sell and rent in older age.
that said, I’m seriously considering just taking on a decent amount of borrowing, buy my kids a house each and hope either my wife or I live 7 years. May as well be me paying the interest, then hopefully won’t be much left when I do pop my clogs and the family home would just have the debt my children would have had anyway, may even get away with no IHT.
otherwise as you say, would have to trade down in value.1 -
Thats exactly what they are achieving. The more they fuck about with pinching and nicking tax from a working to middle class that is simply not spending money is making more drawbridges get pulled up.AndyG said:
We are also seriously considering this it is a mystery to me how our politicians can’t see what they are doing. We have worked hard and built a decent business over the last 40 years, never avoided paying tax and have paid a fortune over the years willingly but they are not grabbing what is ours having built it with money where tax has already been taken. All this program of trying to grab IHT will do is remove the £ from hereRob7Lee said:
If I did move away, I’d keep almost nothing in the uk, certainly sub £750kPragueAddick said:
If you do get serious about moving away, you'll want to acquaint yourself with the revised IHT rules for non-residents. This is what I've been focused on in the last few months. Basically, even though you are non-resident, you will still be liable for IHT on what they call UK-situs assets above your regular IHT limit. That would include your property as well as any savings and investments that are held in British institutions. Curiously, gilts are exempt from that, which is exactly why I've been buying a load of them in the last few months.Rob7Lee said:
The more of this I hear, the more it tempts me to move away from the UK.bobmunro said:Anyone else pick up on this (apologies if already posted).Lesson here - don't leave the large family home to your children. Significantly trade down or even sell and rent in older age.
that said, I’m seriously considering just taking on a decent amount of borrowing, buy my kids a house each and hope either my wife or I live 7 years. May as well be me paying the interest, then hopefully won’t be much left when I do pop my clogs and the family home would just have the debt my children would have had anyway, may even get away with no IHT.
otherwise as you say, would have to trade down in value.
The stupid rule change in tax relief for AVC on pension contributions is so brazen but also they know they can keep doing it. I would have thought they have skin in the game of people not needing to rely on state welfare when they retire but at every turn they think a stealthy raid on aspirational people, in fact not aspirational people, people who are doing what they believe they were meant to do in not being a burden in retirement by putting more money by in their pensions
3000 limit on CGT. God forbid you make 3 thousand pounds on investments. That isn't taxing wealth. That limit should be nearer £30k to encourage people to invest not to scare them off and leave their money sat as opposed to handing it over to whatever lifelong political chinless squaking berk is the Chancellor
Stamp duty need to go as well, we might actually get a fluid hosuing market then and the tax revenue from all that surrounds that and the wheels of industry (not estate agents) like removals firms, people buying furniture, new tvs, getting building work done, new kitchens will actually produce growth
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