Wonder how much tax will be paid on that...'Bank of mum and dad' lends £5bn a year in UK, says L&G - BBC News
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'Bank of mum and dad' lends £5bn a year in UK, says L&G
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'Bank of mum and dad' lends £5bn a year in UK, says L&G
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No tax, they most likely remortgage primary residence to free up all that lovely free money.
Tax is for idiots working or trying to run a business.
UK property - Free money, tax free, forever!
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Originally posted by PurpleGorilla View PostWonder how much tax will be paid on that...Down with racism. Long live miscegenation!Comment
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Originally posted by NotAllThere View PostIf mum and dad die within 7 years of the gift, then, depending on the value of the estate, some inheritance tax may be due.
Looks like a massive tax dodge to me.
Also a huge way to keep the Ponzi debt madness fuelled.Comment
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I don't think it is anything to do with tax.
More to do with it being the only way to get their kids out of the house.
Better still, they should have downsized when the kids went to university....Comment
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Neighbours son & partner have just done a part buy & part rent as the only way they can afford to get on the ladder I suspect with parental help. We are in a fairly well off road.Always forgive your enemies; nothing annoys them so much.Comment
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Originally posted by PurpleGorilla View PostI will believe it when I see it.
Looks like a massive tax dodge to me.Down with racism. Long live miscegenation!Comment
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Originally posted by NotAllThere View PostHow is tax dodged? The laws on gifts and inheritance have been around for a very long time.Comment
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Originally posted by BrilloPad View PostI don't think it is anything to do with tax.
More to do with it being the only way to get their kids out of the house.
Better still, they should have downsized when the kids went to university....Comment
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Originally posted by PurpleGorilla View PostBecause it won't be declared?Down with racism. Long live miscegenation!Comment
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