Dublin men to marry to avoid inheritance tax

Nabber

It’s terrible that the act of marriage is being used to bypass a horrendous tax system.

This devalues marriage. That said, I don’t blame them trying to avoid inheritance tax.
Yet another tax designed to restrict the working class from acquiring wealth

wrangler

Nabber wrote: »

It’s terrible that the act of marriage is being used to bypass a horrendous tax system.

This devalues marriage. That said, I don’t blame them trying to avoid inheritance tax.
Yet another tax designed to restrict the working class from acquiring wealth

I don't think it devalues marriage as much as the broken marriages that are out there. Marriage is for ''as long as you both shall live'', sure breaking that vow devalues it a lot more.
On saying that I'm glad that it's a civil ceremony, it's just a legal vow between two men to love and respect ''as long as they both shall live'' a contract really with no religion

Ronaldinho

Nabber wrote: »

It’s terrible that the act of marriage is being used to bypass a horrendous tax system.

....I don’t blame them trying to avoid inheritance tax.
Yet another tax designed to restrict the working class from acquiring wealth

Sons and daughters can inherit up to 310k without paying any inheritance tax so I don't know how you arrived at that conclusion.

splinter65

Permabear wrote: »

This post had been deleted.

No it doesn’t. It was covered in detail on Claire Byrne Live last night. Totally in order and no laws being broken

anewme

Ronaldinho wrote: »

Nabber wrote: »

It’s terrible that the act of marriage is being used to bypass a horrendous tax system.

....I don’t blame them trying to avoid inheritance tax.
Yet another tax designed to restrict the working class from acquiring wealth

Sons and daughters can inherit up to 310k without paying any inheritance tax so I don't know how you arrived at that conclusion.

Is the issue not that this gentleman does not have any sons or daughters ?

Not everything he has children. Why should they have to give their money away because of that. Single people don’t get extra tax credits.

I’ve no children and hate the thought of the Govt. getting more money from me I’m just a PAYE worker and it’s my after tax income I’m talking about.

Anyone I’ve said it to says more power to them,

dxhound2005

If Michael dies first, then 85 year old Matt will be left a widower and minus his carer. He will be entitled to a big chunk of Michael's estate, especially if Michael has not made a will. Matt could marry again, or he might have to rely on the State to provide his care, which would be ironic.

But maybe Matt will live to be 100 and Michael will very happily continue to care for him, while patiently waiting for his inheritance.

Cookie_Monster

Charles Babbage wrote: »

The general point is that homosexual marriage provides no benefit to society worth requiring other people to pay more tax for fund it. This episode simply exposes the logic of that.

what benefit does straight marriage provide, I presume you're going for the producing children angle?. Well that. in the current world, is a huge disadvantage, due to the over population problem we current have...

badboyblast

[Deleted User] wrote: »

Inheritance tax is not right anyway! When you earn your money you pay tax on it and then they want you to pay tax on it again? F**k off

What this chap said and when you get to there , go f.... Off again

dxhound2005

The nuptials are now complete. It is an affirmation of what marriage law is all about. The passing on of property after death in a strictly regulated manner. Marriage law makes no reference to romantic love.

I hope the Grim Reaper does not intervene in their plans, and remove the younger party first.


http://www.irishmirror.ie/news/irish-news/irish-straight-best-friends-marry-11739904

Uboat

Never Say Never Again wrote: »

a bunch of indian fellas who work in my local gala shop all have wife's from east europe, that must be some sort of scam ?

I am sure it is scam. Visa and passport marriages.

splinter65

dxhound2005 wrote: »

The nuptials are now complete. It is an affirmation of what marriage law is all about. The passing on of property after death in a strictly regulated manner. Marriage law makes no reference to romantic love.

I hope the Grim Reaper does not intervene in their plans, and remove the younger party first.


http://www.irishmirror.ie/news/irish-news/irish-straight-best-friends-marry-11739904

If he does, the older man will be free to marry again.
And get a widowers pension.

wrangler

Uboat wrote: »

I am sure it is scam. Visa and passport marriages.

It's our duty as a taxpayer to screw the system every way we can........they're only wasting our taxes anyway and we're getting nothing like value for money

splinter65

wrangler wrote: »

It's our duty as a taxpayer to screw the system every way we can........they're only wasting our taxes anyway and we're getting nothing like value for money

Tell us ways in which they are wasting your taxes.

Vronsky

[Deleted User] wrote: »

Inheritance tax is not right anyway! When you earn your money you pay tax on it and then they want you to pay tax on it again? F**k off

People hate inheritance tax hey decry the fact that the rich get richer, and that the lucky few get a privileged start in life.

Inheritance tax is important because it is an extremely important way for the state to redistribute wealth for the greater good.

NewApproach

There are laws which are in place where Revenue ignore arrangements which are put in place for the principal purpose of avoiding tax. Hard luck lads.

wrangler

NewApproach wrote: »

There are laws which are in place where Revenue ignore arrangements which are put in place for the principal purpose of avoiding tax. Hard luck lads.

Those guys were better that they didn't bring attention to themselves

dxhound2005

NewApproach wrote: »

There are laws which are in place where Revenue ignore arrangements which are put in place for the principal purpose of avoiding tax. Hard luck lads.

Many marriages could be for that purpose. There is no law against it, as long as the marriage is legal.

The taxman will get his share after the two of them are dead.

Hector Bellend

It wasnt me123

dxhound2005 wrote: »

But if two elderly men get married (or an elderly mixed sex marriage) and both die within a few months, what happens the estate of the second one to die?

Depends on his Will. If no Will, his nearest and dearest get it One of these men have children, the younger man, so they would inherit if he had no Will.

dxhound2005

dxhound2005 wrote: »

Many marriages could be for that purpose. There is no law against it, as long as the marriage is legal.

The taxman will get his share after the two of them are dead.

Not if it’s passed on to the children.

Does a marriage not have to be consummated in order to be legal?

It wasnt me123

Could the older man not just put his house in both their names as joint tenants and then the younger man would automatically get it without paying inheritance tax? Mind you, if there are other substansive assets such as cash, shares, etc, then he would have to pay IH tax on it and as a non relative, anything above €15k would be liable for 33% IH tax.

Donald Trump

Deleted User wrote: »

Does a marriage not have to be consummated in order to be legal?

As Confucius say:
Up the bum. no harm done



(Serious answer, I think that's for the Church, not legal rules)

Donald Trump

Cookie_Monster wrote: »

what benefit does straight marriage provide, I presume you're going for the producing children angle?. Well that. in the current world, is a huge disadvantage, due to the over population problem we current have...

Ehhh, you're talking out your hoop in fairness? There are not enough children being born in Europe in general to replace current population. Average woman has 1.6 kids.

NewApproach

dxhound2005 wrote: »

Many marriages could be for that purpose. There is no law against it, as long as the marriage is legal.

The taxman will get his share after the two of them are dead.

There is, there are laws which say if you do a series of things the main purpose of which is to avoid tax, they are disregarded. These guys have openly stated in the national press that the only reason they are getting married is to avoid tax. It falls squarely within our anti-avoidance rules, there's no doubt about it.

Ginger83

NewApproach wrote: »

There are laws which are in place where Revenue ignore arrangements which are put in place for the principal purpose of avoiding tax. Hard luck lads.

All appears to be legal.

pitifulgod

NewApproach wrote: »

There is, there are laws which say if you do a series of things the main purpose of which is to avoid tax, they are disregarded. These guys have openly stated in the national press that the only reason they are getting married is to avoid tax. It falls squarely within our anti-avoidance rules, there's no doubt about it.

Revenue already said it won't be investigated. Basic indication is that no laws are being broken.

https://www.independent.ie/irish-news/male-friends-wedding-to-avoid-tax-bill-will-not-be-investigated-by-revenue-36414511.html

Fred Swanson

This post has been deleted.

splinter65

[Deleted User] wrote: »

Not if it’s passed on to the children.

Does a marriage not have to be consummated in order to be legal?

How do you propose that be policed?
Incidentally marriage between same sex couples cannot by definition be “consummated”.

suicide_circus

You know what I blame this on the breakdown of? Society.

splinter65

suicide_circus wrote: »

You know what I blame this on the breakdown of? Society.

Useless gubbermint.