| Topic: | Re:Re:Re:justification of Inheritance TAX | |
| Posted by: | Peter Chadburn | |
| Date/Time: | 18/03/19 08:22:00 |
| Good Point Cameron. My late girlfriend died nearly 10 years ago and luckily we squeezed just under the threshold because she also owned a property in northern ireland. It was after the crash and although the northern ireland property has nearly halved in price since 2009 the hanwell property has doubled in value. If this had occurred now i would have had to sell up as like many people i am asset rich but cash poor in order to settle things. It is just that house prices have unbalanced the whole economy sad to say. Whilst on paper i am wealthy in reality i am comfortable. But i believe in taxation and my duty to share my good fortune i can see sadly from personal experience that this is another problem that adds to the stress when suffering from grief. as you say all tax recognises a transaction. we get taxed multiple times and generally we accept that. But to be asset rich in a house but cash poor is probably a common thing. |