Well its complicated because someone of the property belongs to my Dad, but my dad promised to give me his share when I turn 21. So I dont think I have to pay inheritance tax
I think I will pay capital gains tax on any rental income ? not sure but around 20%
Well, if some of the property belongs to you, wouldn't you be taxed for how much you inherited?
Well, if some of the property belongs to you, wouldn't you be taxed for how much you inherited?
I dont know the details ? but it depends on how you structure it ?
Personally I think inheritance tax is unfair, the person who bought the property paid income tax and stamp duty and the person who inherits it will likely pay VAT on inheritance he spends
I dont know the details ? but it depends on how you structure it ?
Personally I think inheritance tax is unfair, the person who bought the property paid income tax and stamp duty and the person who inherits it will likely pay VAT on inheritance he spends
a 40% inheritance tax is obscene
I agree with you on the inheritance tax, that's why, aside of congratulating you, I must say I feel sorry for how much you'll lose for that value.
Well its complicated because someone of the property belongs to my Dad, but my dad promised to give me his share when I turn 21. So I dont think I have to pay inheritance tax
Your dad will have already paid the inheritance tax when he got it.
I agree with you on the inheritance tax, that's why, aside of congratulating you, I must say I feel sorry for how much you'll lose for that value.
lol thanks
My granddad (RIP) was a surgeon and my grandmother was a nurse thats how they met , Both of them passed away a while ago and my dad is pretty comfortable with his own medical career so they skipped a generation and left it all to me
meh its not millions but it works out to be 20,000 a year if I invest it , which is more than enough to maintain a comfortable standard of living and not have to worry about bills
My granddad (RIP) was a surgeon and my grandmother was a nurse thats how they met , Both of them passed away a while ago and my dad is pretty comfortable with his own medical career so they skipped a generation and left it all to me
Aww, my parents are chefs and that's how they met Unfortunately I'm planning to become a diplomat, so it looks like I won't carry on the family tradition . I can cook though, so they're content with just that :P What's your career goal?
Aww, my parents are chefs and that's how they met Unfortunately I'm planning to become a diplomat, so it looks like I won't carry on the family tradition . I can cook though, so they're content with just that :P What's your career goal?
ahh cool ! Being a diplomat sounds awesome, I would love to be a foreign correspondent for a Newspaper somewhere like France or Germany. Are you going to apply for the graduate stream ? any where in particular you want to be posted ?
nah they live in a 5 bedroom detached house with a double garage. You should come over some time to clean the garden or something, we pay living wage dw
ahh cool ! Being a diplomat sounds awesome, I would love to be a foreign correspondent for a Newspaper somewhere like France or Germany. Are you going to apply for the graduate stream ? any where in particular you want to be posted ?
lmaoo you're getting so offended on this thread, chill mate. Nothing here to be proud of, you're planning to live the rest of your life of this money which is embarrassing