Times article claim that Waspi women are tone deaf and should read the room

M0nica

Norah IHT is not a care cost and IHT does not hit in unless the estate is worth over £325,000 or £500,000 if the family home is left to children or grandchildren.

Families are smaller these days, so this sum will usually be divided between only 1 or 2 children.

By definition if your estate value is higher then you pay IHT, but even with IHT you will still be leaving your family more than if your estate did not hit the IHT threshold.

I understand IHT is not a care cost. Of course not.

I understand the numbers, my point was home values.

I think IHT is it's own unfair problem.

I'm not sure families are smaller in my generation. Perhaps.

Allira

Cossy

Doodledog

IHT will impact on estates worth over a million pounds. Most of the population (96%?) don't have such a sum to pass down, so the impact will be relatively small.

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IHT is payable on estates worth over £325,000.

There is no IHT to pay if you leave everything to your spouse, civil partner or a charity or amateur sports club.
It increases to £500,000 if you leave your home to your children.

Your unused threshold can pass to your spouse or civil partner so theoretically could reach the £1 million.

Yes, this is what I meant. In most cases where people leave everything to their spouse or civil partner, who cascades it down to the children IHT only applies to estates worth over £1m.

I was responding to the idea that IHT would impact on the fact that up to 80% of people don't need care so will be in a position to pass on what they have at end of life. Most people don't have more than a million pounds so IHT will have a small impact.

eazybee

The information was out and about for a long time, but I am realising with some of my friends and acquaintances that they never pick up a newspaper, rarely watch or listen to TV/radio news or take any interest in current affairs. Someone asked me the other day what' all the political stuff was on the television;' (it was Starmer delivering his make or break speech) and when I explained she said, oh I never listen to that sort of thing. She doesn't read emails either.
I find it astonishing.

So, you only ever associate with women you regard as 'thick'?

Much shame on you!

Norah The average number of children born per family has fallen from around 2.0 in 1990 to 1.4 in 2024.

I think IHT is it's own unfair problem.

I agree, Norah
At the very least, it should be on a graduated scale like income tax, perhaps starting from £1 million.

The very wealthy seem to be able to avoid it.

I have pointed this out before; the much quoted one million pounds threshold applies only to couples. For single and divorced people it is £550, 000.

M0nica

Norah The average number of children born per family has fallen from around 2.0 in 1990 to 1.4 in 2024.

I'm not certain that pertains to most here.

We had children in the 60s and 70s.

Posters on this topic perhaps had children prior to 1990.

Mine were 90s babies.

Chocolatelovinggran I think the £1m only applies to people leaving money to their own children, which will mean most will be either married or widowed (in which case the deceased partner's allowance is inherited). Not all, of course, but children of single people still have two parents, so can inherit twice, which comes to the same thing.

Doodledog

Mine were 90s babies.

Chocolatelovinggran I think the £1m only applies to people leaving money to their own children, which will mean most will be either married or widowed (in which case the deceased partner's allowance is inherited). Not all, of course, but children of single people still have two parents, so can inherit twice, which comes to the same thing.

I stand corrected.

About what? The birthdates of my children? I wasn't correcting you with that - just saying, really.

As for the main point of my post - I think that's true isn't it? Each parent has an allowance, which their children can either inherit from one parent who outlives the other, or from both parents if they are unmarried. I may be wrong though.

Doodledog, many divorced parents remarry. My husband's second wife will inherit, quite rightly, and she has indicated that her inheritance will go to her children, not his.

Good point. Yes, I've seen that in my family. Ok, I'll retract my post and add in 'in many cases'. Apologies.