RE: The cost21 Mar 2020 13:20
CJO1
Thanks for the suggestion, but Equity Release not really an option for us (too complicated to explain).
schlemiel
Totally agree with you 100% buddy!!
wasred
Yes it is a lot to deal with at a very difficult time, especially as the Inland Revenue start imposing an extortionate rate of interest on any monies owed if not received within 6 months (although we still have that to come as my dad is still very much alive at the moment - thankfully) but I am afraid I will have to differ with you on the ''fairness''of what is officially the most hated tax in Britain.
Our IFA had said that a major shake-up was planned with IHT in advance of the last budget, but obviously events happened and the government's Budget priorities (obviously and correctly) changed.
mercedesman
To get a mortgage you need a job, and having given up corporate life nearly 4 years ago now (my last position was Head of Marketing for a pretty well known small independent specialist Pension Provider) to care for my father full time after his stroke, and current ongoing vascular dementia, it is unlikely that I will ever be employable again when my father no longer needs my care (especially me being 55 years old now as we speak). What's more the payments on a £150k mortgage over 15 years (you cannot get a mortgage past 70) would be over £700 per month, on top of normal bills etc. and I would struggle with that on my last salary let alone what my limited earning capacity is likely to be at the age I will be if and when I am able return to work at some point.
In any case whilst I respect and appreciate all of your differing responses, hopefully come year end (so long as we get north of 25p a share for whatever buyout/takeover etc. comes to pass) all of the aforementioned financial problems will be solved (although I would still argue that it doesn't remove the unfairness of paying additional tax on money that has already been taxed and purposely saved with the specific intent of helping one's offspring achieve a better life).
GLA
MB
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