The Tories' New Death Tax

[Oxx]

Ever keen to grab more money from its citizens, the government is hiking the cost of obtaining probate dramatically.  Currently the fee is a flat £215 (or less if made by a solicitor).  However, the new fees will be tiered, so for example, the new fee on an estate worth £500,000 to £1 million it will be £4,000.  Further details of the nasty, money-grabbing scheme at:

 

http://www.moneyobserver.com/news/01-03-2017/probate-fee-rise-new-inheritance-tax-large-estates

[elliss]

     Less  money  for  my so called , loved ones . 555

[Oxx]

1 minute ago, elliss said:

     Less  money  for  my so called , loved ones . 555

 

But who do you love more, and which is more deserving of your hard earned cash? Your "so called loved ones"? Or Theresa May and her heartless mob? 

[7by7]

The level below which no probate fee is paid at all has been increased tenfold from £5,000 to £50,000.

 

£50,000 may not seem a lot; but the largest part of the value of many estates is the value of property. Nearly 40% of people in the UK do not own any property, they rent their home. How many will have an estate valued above £50,000? Very few, I suspect, though many will have more than £5000. These poorer families will in future pay no probate fee at all.

 

This new measure also means that instead of everyone paying the same, the more money you have, the more you pay; not very Tory, but very Socialist!

 

From The Telegraph who, predictably, don't like this as it will effect their readers a lot;

Quote

The Ministry of Justice insisted that only one per cent of estates would incur the top fee of £20,000 and that almost six in 10 would pay no fee for probate at all.

 

It is no surprise that those with large estates are critical of this; just as it is no surprise that they, of course, welcomed the cut in inheritance tax which takes effect in April.

 

 

[jayboy]

On 03/03/2017 at 2:03 PM, Oxx said:

 

But who do you love more, and which is more deserving of your hard earned cash? Your "so called loved ones"? Or Theresa May and her heartless mob? 

What a ridiculous comment.It's a perfectly fair step for the government to take and one which benefits ordinary people as opposed to the well off.See the pertinent comment below.

 

On 03/03/2017 at 4:57 PM, 7by7 said:

 

This new measure also means that instead of everyone paying the same, the more money you have, the more you pay; not very Tory, but very Socialist!

 

[Oxx]

The Tory scumbags have now decided not to implement the new death tax (at least for now).  Might it possibly have something to do with the impending election? Not wanting to lose votes for an inherently unfair and unjust tax? Vote-grabbing slime.  Pretty sure it's resurface once they've one the vote, though.

 

http://www.itv.com/news/2017-04-21/planned-probate-fee-rise-scrapped-ahead-of-general-election/

[jayboy]

The Tory scumbags have now decided not to implement the new death tax (at least for now).  Might it possibly have something to do with the impending election? Not wanting to lose votes for an inherently unfair and unjust tax? Vote-grabbing slime.  Pretty sure it's resurface once they've one the vote, though.
 
http://www.itv.com/news/2017-04-21/planned-probate-fee-rise-scrapped-ahead-of-general-election/

Is it unusual for a political party to propose policies attractive to the electorate? You throw out phrases like Tory scumbags yet it's the Tories who easily have the best record on tax.The Tories have also very significantly reduced inheritance tax.

[7by7]

@Oxx

 

Right from your OP it is obvious that you have seen this as an opportunity to lambast the Tories without any understanding at all of the realities of the measure.

 

Realities which would have meant that the less well off would pay less whilst the better off would pay more!

 

As an obvious Tory hater, and therefore presumably a socialist of some kind, I would have thought the poor paying less and the rich paying more would appeal to you!

 

The move has not been, as you suggest, scrapped as a cynical election ploy. As your link says

Quote

On Thursday, the Ministry of Justice confirmed a statutory instrument on the proposed revisions will not have time to complete its passage through Parliament (before the election).

 

Which is standard UK Parliamentary procedure. All legislation, whether it be a Bill or SI, which has not completed it's progress through Parliament when Parliament dissolves for an election is automatically cancelled.

 

Whether or not it will be reintroduced after the election will be a matter for the new government after the election; whoever they may be..

Edited April 21, 2017 by 7by7

[al007]

Interesting observation, no likes for any of the OPs input, but high level of LIKE for the replies

 

Suggests to me maybe the OP is alone in his views, to which of course he is very entitled

[Pdaz]

These plans have been scrapped now due to the upcomming election. No guarantee they won't resurface in the future.

But given a choice between paying more for probate or having inheritance tax levied on anything over £400K by Labour. I'll take the Tories anyday..