Hugh Grosvenor got a whopping £4 BILLION tax break from the British taxpayer when he became Duke of Westminster - what for?

[TallerSally]

Yeah.

£4bn that could have been invested into public services in the UK. £4bn that hard-working tax-payers are having to make up for.

The usual feeble protests about this inheritance tax (IHT) break being the law or tradition just won't cut it - laws and traditions that aren't in the public general interest and just exist to uphold the privileges of a small (and in this case unarguably underserving) minority can and should be changed.

Because, what exactly has Hugh £10bn fortune Grosvenor done for the British public to deserve a £4bn IHT break?

And so pathetic to see the media skirt around the issue, as they fawn over his wedding today and try to faff about irrelevant peripheral pseudo-dramas instead.

£4bn, folks!

https://www.telegraph.co.uk/royal-family/2024/06/07/duke-of-westminster-olivia-henson-wedding-latest-news/

Because no-one has changed it yet. How about you campaign for this to be changed, or stand for election and try and bring about the change as an MP yourself?

Completely agree OP. It's not like he can't afford it!

Ridiculous, unfair and outrageous.

And agree seeing all the media and public circus fawning around them is even more vomit inducing.

Agreed OP. It’s disgusting

How would any farming or landowning business survive if every time it was passed on 40% inheritance tax had to be paid.

Come. On.

That applies to factories, property, businesses etc none of which get such generous exemptions - so not remotely an acceptable justification!

Which is precisely why Business Property Relief and Agricultural Property Relief exist to protect those enterprises.

Yep

You are not being unreasonable @TallerSally and as usual, one of the first comments is 'why don't you do something about it then?' and 'why don't you campaign to get this stopped?' and 'why don't you become an MP and change things?'

Like everybody can just drop everything in their life and just become an MP! Like it's soooo easy. And who says that you'd be able to make any difference anyway? Only big important MEN in parliament get results! (And even some of them don't!)

Absolutely ludicrous comment. It might be a good idea to write to your MP about it though. It is an absolute disgrace. What the hell does he need all this money for? Why is it 4 billion? Why couldn't you just get £25,000?! Why anything at all????!! No wonder this country is going to the dogs with privileged men getting billions of £££ for fuck-all!!!

The reason is simple, because Hugh Grosvenor didn't inherit the money and assets.
They are held in a trust, where they remain.

Isn't that exactly the point, though?

Of course such trusts are set up to avoid IHT.

Again, not remotely an acceptable justification!!!

Amen to that.

Writing to MPs and kicking up a fuss definitely a good idea.

Especially with the imminent change in UK government.

The reason it hasn't changed is because no political party thinks people care about it., Whinging on the internet is fun, but achieves absolutely nothing. You could at least write to your parliamentary candidates and ask them what they think so they know its something which will matter to their constituents.

I think before you get so wound up about something you should try to understand the technicalities, because you obviously don’t. Trusts are not set up to avoid IHT 🤣

Off topic but they look like brother & sister!

Yes let’s tax every successful enterprise out of existence because that would benefit precisely no one.

And so pathetic to see the media skirt around the issue, as they fawn over his wedding today and try to faff about irrelevant peripheral pseudo-dramas instead.

What peripheral drama do you mean?

Is he part of the Royal Family? No.

Is this man the OP thinks is a VERY BAD MAN the chosen godfather of Harry and Meghan's eldest child? Yes.

OP, ask H&M why they would choose a billionaire "tax dodger" as the moral guide for their son. Do it in a Mrs Merton voice.

I wa not aware of this trust loophole and I am now very angry. The everyday person has to pay inheritance tax on anything over £350,000 unless left to spouse or partner.

Sorry that should be £325,000!

There's nothing stopping the "everyday person" from setting up a trust.

Are you also up in arms about the thousands of other families who have similar trust set-ups?

Were you up in arms about it 8 years ago when he inherited, or is it only to stir up a bit of shit on his wedding day?

There is no trust loophole.

JFC.

If anyone settles a trust during their lifetime, they pay 20% IHT on assets settled above their available nil rate band. Then trusts are liable to pay IHT on the assets held on every 10 year anniversary and when assets are distributed to beneficiaries.

Indeed many people set up trusts to avoid IHT. Those who can afford to pay someone to set them up.

See also off-shore accounts and paying yourself through a company...

They are called tax loopholes.

Aww, but he's paid to have flowers planted in Chester City centre and for free ice creams in 3 city centre ice cream parlours for people visiting the city today! if anyone can get there with all the road closures