Inheritance tax

[Returnofrros]

I think that would depend on the amounts involved. No Inheritance tax is payable between spouses/partner. If amount is big enough the transfer to children could have tax due. Transfers neighbourhood have a limit pa and I think

It used to be.....say me and Mrs sunshine own a house.

I die ( steady at the back 😆 ).....instead of my 50% of house going to Mrs sunshine it goes to my kids ( if I had any).....then council can't include home or force sale if Mrs sunshine goes into care.

Genuinely can't remember how that would be treated for inheritance tax liability.

[Returnofrros]

And wealth taxes sound great until people realise they mean them.

I honestly think tax relief on pensions should be dramatically altered......40% tax payers get 20% relief and vice versa.

Encourage "poorer" folk to save instead of continually telling them they are downtrodden.

[BCram]

Encourage poorer folk to save. This and stop telling them they are downtrodden are perhaps the corner stones of a successful country.

I wonder why anyone would tell someone they are downtrodden.

[Returnofrros]

Encourage poorer folk to save. This and stop telling them they are downtrodden are perhaps the corner stones of a successful country.

I wonder why anyone would tell someone they are downtrodden.

Suits opposition parties

When Tories are in opposition it's usually "killing entruperner spirit".

It completely suits SNP to continually encourage Scots to think they are helpless.....really ****s me off

As an aside

Was watching a very early edition of bullseye today from early 80s

Dundee couple on.....mid thirties early 40s.

Jim Bowen "so John what do you do for a living"

John " I'm unemployed Jim "

Jim Bowen " that's not so good, is it tough up there"

John " it's grim, really grim "

**** also had sandals and socks on.

Wtf makes folk think and act like that?

Has it always been that way in Dundee?

[islaydarkblue]

It used to be.....say me and Mrs sunshine own a house.

I die ( steady at the back �� ).....instead of my 50% of house going to Mrs sunshine it goes to my kids ( if I had any).....then council can't include home or force sale if Mrs sunshine goes into care.

Genuinely can't remember how that would be treated for inheritance tax liability.

There is nothing to stop you doing that at present.
You could state in your will that on your death your house is left to your children whilst giving your wife life rent of your house until she dies.

[islaydarkblue]

If Useless aided by Wee Pat has theur way we will all be taxed to the hilt in Scotland to ensure that the Scottish Government has plenty of money to hand out to the workshy and druggies.

[The AuldYin]

There is nothing to stop you doing that at present.
You could state in your will that on your death your house is left to your children whilst giving your wife life rent of your house until she dies.

No you can't. Your will has nothing to do with what happens to any property you own.

[Returnofrros]

There is nothing to stop you doing that at present.
You could state in your will that on your death your house is left to your children whilst giving your wife life rent of your house until she dies.

But that has big risks associated with it.

Pro indivso ( I think ) and destination deeds are a solicitors preferred route.

And as I say takes 50% of property out of care needs assessment.

[Returnofrros]

Survivorship destination was legal term guy I dealt with many moons ago used to call it.

[islaydarkblue]

But that has big risks associated with it.

Pro indivso ( I think ) and destination deeds are a solicitors preferred route.

And as I say takes 50% of property out of care needs assessment.

Not if you take the expert advice of a solicitor.