It was like that when I was growing up. I used to listen to Jimmy Savile's Old Record Club on Radio One, thinking what a funny, friendly presenter he was!
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I believe - based on a recent discussion with colleagues - that you can inherit property/ cash/ other assets totalling at least a million tax free. To me that amount should be taxed. No one needs an inheritance at that level or even a fraction of it. If you've been lucky enough to accumulate that level of wealth (and a lot of it is luck like the massive house price rises over the last 30 years or so) then why not? Many people work hard their whole lives (like my dad, who was working until he died in his 70s and owned almost nothing) and will never have even a fraction of that amount.
I personally find the idea of taxing someone after they’ve died utterly bizarre in general. I also think that it’s a bit pointless to say ‘let’s just tax the rich more’, because it doesn’t really work. Rich people are great at hiding their money (or paying someone to hide it for them).
the limit is £325,000 however, if a husband or wife dies first, and their threshold is not used (ie; the whole estate passes to the survivor) then you can transfer the nil rate band on the second death so that the threshold for that death is £650,000.
It’s not quite a million, but it’s a fair amount to get tax free. Though, when you consider current property prices a lot of the threshold can be used up just through the sale or assent or the deceased persons property meaning the tax free amount can be swallowed up quite quickly before investments/savings etc are considered.
According to my colleagues, one recently inherited a share of £850k from a grandparent and the family paid no IHT, another inherited £1.1m and paid £25k tax. I'm sure the spousal benefits applied but even so not sure how they did it, however they were pretty open about it. Trusts maybe? Who knows 
You can make a gift tax free, you just have to live for 7 years after it's made.
www.gov.uk
UO: Taxing the rich even more isn't the issue. It's the squandering of taxpayer funds without any accountability. £100k on flags. £26k on stickers in london alone. £500million + on advertising for the covid vaccines.
Also there's nothing to stop people buying gold and giving that away without drawing attention to yourself.
How Inheritance Tax works: thresholds, rules and allowances
Inheritance Tax (IHT) is paid when a person's estate is worth more than £325,000 when they die - exemptions, passing on property. Sometimes known as death duties.
UO: Taxing the rich even more isn't the issue. It's the squandering of taxpayer funds without any accountability. £100k on flags. £26k on stickers in london alone. £500million + on advertising for the covid vaccines.
Also there's nothing to stop people buying gold and giving that away without drawing attention to yourself.
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If you live in the South East you do. Just try and buy a very normal 3 bedroom house for less than £500,000.
As harsh as it sounds there are plenty of people like your dad but I don't see what it has to do with inheritance tax generally.
I really don't see how it's fair how people can be nearly bankrupted paying tax on something that has already been taxed.
I'd be careful trying to get around inheritance tax by buying gold and gifting it. The problem comes when trying to do anything with that money.You can make a gift tax free, you just have to live for 7 years after it's made.
How Inheritance Tax works: thresholds, rules and allowances
Inheritance Tax (IHT) is paid when a person's estate is worth more than £325,000 when they die - exemptions, passing on property. Sometimes known as death duties.
UO: Taxing the rich even more isn't the issue. It's the squandering of taxpayer funds without any accountability. £100k on flags. £26k on stickers in london alone. £500million + on advertising for the covid vaccines.
Also there's nothing to stop people buying gold and giving that away without drawing attention to yourself.
All financial services providers are obliged to carry out 'know your customer' checks to reduce crimes like money laundering, fraud, etc. One of those checks is asking customers the source of their wealth. If you lie, that's fraud, and if you tell the truth (i.e. I was gifted this by X) they'll start digging.
I once picked up what I thought was a normal tea bag, put some milk and water in my cup and the milk turned a shade of pink. It was vile!
UO herbal teas and coffee is vile.
I'm insulted. UO Gravy is vile
Gravy can be good if it’s done properly - but 99% of the time it’s watered down brown nothingness
I have ketchup with mine... haters r gonna hate.
UO - bread sauce is amazing. It’s the best part of Christmas. Bread sauce with stuffing? With roasties? IT IS SO GOOD
do you like ketchup Hope you’ve not mentioned it
For those who don't know it's always yes to ketchup Watermelon.
I will accept bread sauce slander from anyone doesn’t have warm bread instead of toast, the hypocrisy
I put mayo on mine
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