Saturday, November 8, 2008
Silver lining to houseprice falls
Price falls cut inheritance tax
Inheritance bills can be cut if property left in a will falls in price after the date of death. With house prices down 14% in a year and share prices falling by 30%, estates valued a year ago can be worth far less when the tax has to be paid. The Revenue may be sympathetic and make some cut in the tax. Alternatively, the tax must be cut if the executors sell property within four years or shares within 12 months at a lower price than the valuation.
Posted by mark @ 06:06 PM (548 views)
5 thoughts on “Silver lining to houseprice falls”
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Davidg says:
Inheritance tax down, stamp duty down, oil revenues shot to bits, sterling down, unemployment up. Where is the money coming from to bail out the banks?
renting2 says:
Great for the beneficiaries I guess, but this lost revenue has to be supplemented somewhere, or added to the PSBR.
planning4acrash says:
Yes, Renting2, they must get more money to invest in American SubPrime CDO’s more money for wars of attrition, more money for a welfare state to give stability to their inflationary money printing, more money, more money to pay the EU to take away liberties. Oh yes, they need a heck of a lot more money.
montesquieu says:
@planning4acrash:
what’s the EU got to do with any part of this discussion bar the usual knee-jerk Europhobe response to any topic under the sun?
Give it a rest.
Rimmer says:
Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha
Sorry i cant help it, when house prices go up 20% a year constantly the world acts like its normal, when they drop we look for reasons to feel good – ” At least the inheritance tax will be less ” wont be long before we will be calling for a council tax values review.
I wanted to repeat a blog post i read on the times about “House prices fall 15% in a year” it did make me think this guy has a good point and it shows what a poor and greedy society we live in, it was i believe posted by a cypriat individual about uk house prices.
It basically said
” I dont understand the UK, when Petrol is up it is bad but when houses are up its good – When houses are down its Bad but when petrol is down its good”
Basically why he knew housing is a need and couldnt see why……………….made me smile .