Saturday, August 5, 2006

Huge increase in estates paying inheritance tax

Inheritance Tax Piles Up

The number of estates paying inheritance tax rose by 72% over the five years to 2003/04, new figures have revealed. According to the Halifax, some 30,451 estates in the UK were liable to pay tax, with a further 22% rise to 37,000 expected by 2006/07. The increase follows a 179% boom in property prices since 1996.

Posted by webmaster @ 04:13 PM (504 views)
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4 thoughts on “Huge increase in estates paying inheritance tax

  • What with this and increased revenues from Stamp Duty – this is why all HPC-ers must view the Govt as a VI !

    Just like the tax on fuel, the Govt is addicted to High property prices and wants to keep them up for as long as possible – even to the extent that they will “fix” the inflation figures by changing the index.

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  • The Bald Man says:

    Sirgoogle I agree the whole economy has been built on people borrowing against artifically high prices. The equity released has been used to built up and pay inflated salaries to the civil service with no long term benefits. Now we are seeing the debt mountain which will be the Gordans legacy for us and our children. Of course Gordan and Tony are VI’s!
    I also agree the inflation numbers are no reflection of what is really happening. I suppose Tony and cronies would not realise as they do not pay for anything themselves.

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  • Hear! Hear!, Sir G., …..We have VI politicians and funding gluttons from local government and up, considering that taxes are also inflated in relation to Council Tax Bands. How many pensioners bought a home for a few thousand pounds years back that today qualifies for Tax Band H? For that matter, does anybody [except perhaps Fido and his dog crate] pay a Band A tax rate anymore? Council Tax will undoubtedly be another index you’ll see go through rapid revision if prices DROP substantially.

    And surely many government officials at the highest levels are beneficiaries of quite marginal “insider trading” tactics who have purchased personal property portfolios at the same time that they legislated, encouraged and funded endless property price escalation and put the entire nation in a real estate dumper. What’s the real difference between that and insiders manipulating the stock market? Certainly they’ve worked hard to ensure their own “pension investment” if no one else’s!

    If it looks like a VI, sounds like a VI, smells like VI……

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  • Hear! Hear!, Sir G., …..We have VI politicians and funding gluttons from local government and up, considering that taxes are also inflated in relation to Council Tax Bands. How many pensioners bought a home for a few thousand pounds years back that today qualifies for Tax Band H? For that matter, does anybody [except perhaps Fido and his dog crate] pay a Band A tax rate anymore? Council Tax will undoubtedly be another index you’ll see go through rapid revision if prices DROP substantially.

    And surely many government officials at the highest levels are beneficiaries of quite marginal “insider trading” tactics who have purchased personal property portfolios at the same time that they legislated, encouraged and funded endless property price escalation and put the entire nation in a real estate dumper. What’s the real difference between that and insiders manipulating the stock market? Certainly they’ve worked hard to ensure their own “pension investment” if no one else’s!

    If it looks like a VI, sounds like a VI, smells like VI……

    Reply
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