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It not a joke!!! It is the truth!!!

Giving people what they want: violence and sloppy eating

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House price good news?!?
mini me + poo
Ok, let's see what's on the ES website for "House Prices" in the last 24 hours:

1.IMF warns on UK house prices
Plunge threat to Britain's economy...read
News and city:  01/10/04

Hmm, hardly 'good news' and it is today's, not yesterday's news.

2.Inheritance tax threshold 'unfair'
More than two thirds of people think inheritance tax is unfair as rising house prices push more and more families above the threshold on which it is paid, research claimed today...read
News and city: Business 30/09/04

Hmm, well it's a voluntary tax for people who distrust their relatives more than they dislike the Inland Revenue, so tough. In any case, hardly 'good news' on 'house prices'. 
3.House price rises gather pace
Trading up is hardest in a decade..read
News and city: Business 01/10/04
Hmm, compare and contrast with #1. Also today's.

4.Rock shrugs off property slowdown
But bank predicts mortgage decline..read
News and city: Business 01/10/04

Hmm, probably not 'house prices' news. Ditto
5.Graduates priced out of property
63% cannot buy before 30..read
News and city:  30/09/04

Well, it's yesterday's, but if this is good news, then...
6.House crash fears ease
Fears of a housing crash in London eased today with a survey showing the property market on course for a soft landing. Latest figures from the Nationwide reveal that London prices, though slowing, will continue to rise gently...read

I think this must be it - house prices will rise... slowly. If you read the story, it says sales are about 20% lower than the spring, and in some areas prices are going up and in some areas they're not moving.

So out of those six, that's two bad news, one possibly good, one 'it depends' and two irrelevant.

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it's a voluntary tax for people who distrust their relatives more than they dislike the Inland Revenue

How so?

IANAA, but it was something Nigel Lawson did: things you give away more than seven years before you die don't count for inheritence tax purposes.

(Less than that, and they do to some extent - it's to stop you escaping the tax by giving everything away in your final minutes.)

So, if your parents give you their house and survive for seven years, there will be no tax bill on it. But they've got to trust you, as there are restrictions on placing conditions on the gift (ie no 'I give you this house, but you must let me live there for free for life...')

Well there are a few snags other than lack of trust with that plan. Such as the giftee could predecease you, or they could lose their job and fail to get benefits because they own a house somewhere. In any case most people have to pay capital gains tax on gifts over 20 grand in a year (I think), so it's not tax free...

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