To think it’s unfair that some people get inheritance while others start with nothing?

I already earn 50k plus & don't want to work full time in part because for the added stress & costs of wrap around care etc it's not financially worth it. I wasn't aware this was particularly controversial. I have said multiple times that I believe the tax bands should be lifted. I also know plenty of people who keep their earnings under 100k to get free hours etc.

Why do you think I get child benefit? I'm not a single parent...I have never received child benefit.

I'm not sure why you are still struggling to comprehend my posts?

can you please elaborate on this? you don't work full time because of 40% tax.

You say you earn 50k. It means you pay 10.5k of income tax and NI together.
How many kids do you have? you say they are of school age. Two? it means you get 2k pa of child benefit and state pays 15k pa for their education. This is before we even start talking about NHS.
So you want to tax inheritance even more?

I received a significant inheritance that has set me up for life. My husband and I will likely inherit again from other relatives. We were both born into wealthy families. We plan to leave enough money to our children so that they will never struggle financially in life.

A portion of our wealth is taxed, and we gave a significant amount to a breast cancer charity in the hopes that other families wouldn’t suffer the grief we were feeling.

Of course this is a huge privilege to have an inheritance, and we know most people will not be in this position.

However in order to receive my inheritance my mother died young, I was only in my mid twenties. My mother never got to meet her grandchildren, she missed my wedding. She never got to enjoy her retirement. There’s not a day that goes by without me missing her. I’d give the inheritance back without a second thought to have my mother again.

It’s worth remembering inheritance almost always comes with grief, and most people want to respect their loved one’s wishes and understand most parents want to provide for their children after they are gone, which can be done through an inheritance.

I know many people are bereaved without being left an inheritance, but as so many people have said we are all born into different levels of privilege and some parents will have more or less than others to leave their children - that’s just life.

And any inheritance tax changes will impact me as both my parents & in-laws are well over the limit and I will be too.

@nearlylovemyusername No read my posts...

I said anything more I earn is taxed at 40%, I already pay 40% tax on some of my part time income. How many times?!

And what about all the years I did work full time 😆

You're very jealous of people who received something from their parents but you still don't work more to give more to your children. You just want all those brilliant services paid by someone else.

I'm speechless

You either pretend to not understand what I'm saying or ...

I don't understand what you are saying as you don't seem to have any comprehension because you are not reading my posts correctly & inferring things I haven't said..

NRTFT and won't ever receive an inheritance.
However, lots of things in life are unfair.
If we put a stop to inheritances because they disproportionately benefit children from wealthier families, how long will it be before you are complaining that private education is not fair because that gives an advantage to children from wealthier families?
Or deposits on houses while the parents are still alive aren't fair, because not everyone has parents who can afford to do this.
Maybe you believe its unfair that parents pay for their children's driving lessons and buys their cars, since quite often that gives children an advantage?
Where would it end?
Wealthier parents can often afford to give their children experiences, education and assets that poorer parents can't afford.
That's life!

@wipeywipe

Do you thinking someone working full time & earning 40k is paying more into the system then someone like me who earns above 50k part time?

They are not paying more, but they are doing their best. You said up thread that you don't work full time because it's all taxed at 40%. By going part time you make a choice to only pay 20% tax on part of your income whilst you can work full time and pay more. Being below 50k you are net recipient, especially if you have kids. It means that state spends more on educating you kids, providing your family with healthcare etc etc than it receives from your taxes. To put it bluntly - I am paying for you.
So I find it pathetic that you want to tax inheritance even more.

You're very jealous of people who received something from their parents but you still don't work more to give more to your children. You just want all those brilliant services paid by someone else.

You either pretend to not understand what I'm saying or ...

@faffadoodledo it’s too late for that. Of course the government could make an offer for such houses. They might get a few that way. Nothing is ever tried though!

Obviously these are rhetorical questions because i'm not expecting a logical response

In areas like the one I live you could transform the housing landscape overnight by making it more difficult for people to have second homes - some of which are only occupied for a couple of weeks a year. I do object to new housing estates being built on the edge of every village and town when there are (often) many dozens of such properties in a place.

@nearlylovemyusername what on earth is wrong with you? 😆

you much rather take it from someone else who did work full time and saved

Who am I taking money from? Why do you think I don't save?!

Do you thinking someone working full time & earning 40k is paying more into the system then someone like me who earns above 50k part time?

Do you have an opinion on when people retire? stay at home parents?

you even don't want to work full time to leave house to your children

I have no idea what the above even means.

Whilst I don't disagree with the fact of inheritance and hope too myself - I do think this idea that everyone who leaves money to family has worked hard or invested wisely isn't as simple as that - I know quite a few people who have done jack shit over the years and have simply got by on money handed down over the years ( trust funds and the like) - their parents much the same-

yes, you want it all but you don't want to work full time because you're taxed at 40% on this

you even don't want to work full time to leave house to your children

you much rather take it from someone else who did work full time and saved

maybe from you working full time? any paying your taxes at applicable rate?

Speaking truthfully, which I can only do with regards to the area I live in if you're single, male or female, no dependents or a couple with or without DC and are in work the chances of you getting a local authority property is pretty rare.
You'd have to buy.

Our council no longer build social housing that's left for big development companies, as part of the criteria for getting planning passed for private housing the developer has to incorporate x amount of social housing per development then pass them over to the nominated council management company to run once built.

Some people get inheritance when they are 78 … they started out with ”nothing”and then inherited some money aged 78.

How unfair is that?

It’s not really driven by inheritance. It’s more driven by gifts from parents for deposits.

The gifts often come from inheritance...,

No one really worries about others. They just want a home for DCs. It’s that simple.

I don't just want a home for my dc though. I want a functioning NHS with enough doctors and nurses. I want good standards of care in care homes or at home should I need it. I want great teachers for my dc's education. I want competitive salaries for myself & my dc. I want lower rates of violent crime. I don't think it's simple at all 🤷🏻‍♀️

Yes OK, some luck was involved but still, why should I miss out because somebody else is feeling hard done by?

There are people worse off than me and there's those that are more fortunate than me, that's life.

You can only increase the supply of houses by building more. The idea of taking property away from people is draconian and the state over stepping its role. It won’t happen. The more expensive areas have limited space to build. It’s not really driven by inheritance. It’s more driven by gifts from parents for deposits. No one really worries about others. They just want a home for DCs. It’s that simple.

So even if we ignore the "taking relatively more of it from the larger estates" part. and just take 25% from all estates, if you have two kids and expect to leave less than £200,000 (in current money) then your kids will be better off this way. Plus they will get it at 25 rather than waiting until they are 55 or thereabouts.

And yes I know there are all sorts of practical issues, but it makes you think...

I would genuinely be interested to know from those who believe that if when you die you have something to leave to your children that it’s logical that it gets taxed and goes to taxman instead of to your kids their reasoning? To address societal imbalances? But if that’s the case then other things needs to be readdressed first… no benefits given to those who have never contributed, no access to NHS to those who again haven’t contributed comes to mind…

Young people need as much help as they can get

Agreed. But not just young people with parents who have built up valuable estates to pass on. All young people need help. I'm not talking about stopping anyone leaving 20k to their kids, that's probably less than their share.

Here's some very very rough numbers. The value of estates that went though probate in 2021/2 was about £100 billion. Supposed we distributed an additional 25% of that, taking relatively more of it from the larger estates. That's £25 billion to go round. There are about 1 million 25 year olds in the UK. Every single one could "inherit" £25,000 on their 25th birthday towards buying a house.

Or, a much better idea (since giving money to buy houses just tends to increase house prices) the money could be used to increase the supply of housing and bring down prices. Or maybe to make Higher Education almost free for everyone.

How is it unfair? They worked hard for their money. Who should get it then? You? Charity? Government? People work hard for their families and not some random person online who thinks others shouldn't benefit from their family's hard work. Craziest shit I've read so far this year

unfortunately, the bar is very high right now. That’s something one needs to accept and prepare for it.

I’m in my late 50s and started with nothing. I will inherit one day though. My parents started with nothing and they inherited in their 70s. Why is starting with nothing not ok?

It’s such a ridiculous thread, did the op ever return?