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Slim
Joined: 05 Mar 2006 Posts: 6612 Location: New England (In the US of A)
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dpack
Joined: 02 Jul 2005 Posts: 46229 Location: yes
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Slim
Joined: 05 Mar 2006 Posts: 6612 Location: New England (In the US of A)
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dpack
Joined: 02 Jul 2005 Posts: 46229 Location: yes
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Slim
Joined: 05 Mar 2006 Posts: 6612 Location: New England (In the US of A)
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Slim
Joined: 05 Mar 2006 Posts: 6612 Location: New England (In the US of A)
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Mistress Rose
Joined: 21 Jul 2011 Posts: 15979
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Posted: Tue Sep 20, 22 6:59 am Post subject: |
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One thing about trusts is that ordinary people can use them too. In the UK, estate duty starts at a pretty low level, so if you own your own house , not mansion, in some parts of the country and pass it on to an only child they get stung for estate duty as the residual legatee. Our solicitor managed to reduce the estate duty I had to pay when my parents died, by perfectly legal and ethical means, but it was still a good bit of money. If he hadn't, I would have had to pay over the rate I was paying for income tax.
Yes, very rich people should pay more, but sadly they can pay for accountants and lawyers to hide, manipulate and otherwise reduce tax burdens, even if things like trusts are not used. |
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sgt.colon
Joined: 27 Jul 2009 Posts: 7380 Location: Just south of north.
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Slim
Joined: 05 Mar 2006 Posts: 6612 Location: New England (In the US of A)
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Slim
Joined: 05 Mar 2006 Posts: 6612 Location: New England (In the US of A)
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dpack
Joined: 02 Jul 2005 Posts: 46229 Location: yes
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tahir
Joined: 28 Oct 2004 Posts: 45674 Location: Essex
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Slim
Joined: 05 Mar 2006 Posts: 6612 Location: New England (In the US of A)
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tahir
Joined: 28 Oct 2004 Posts: 45674 Location: Essex
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dpack
Joined: 02 Jul 2005 Posts: 46229 Location: yes
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