{"id":25273,"date":"1999-04-11T09:49:28","date_gmt":"1999-04-11T02:49:28","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-elite\/"},"modified":"2016-09-07T06:09:30","modified_gmt":"2016-09-06T23:09:30","slug":"the-elite","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-elite\/","title":{"rendered":"The elite"},"content":{"rendered":"


\nThey may be about to lose their hereditary right to sit
\nin the Lords, but life’s not all bad. Todays young heirs can take consolation from their future fortunes – and their ability to avoid inheritance tax, says Kevin CahillOnce upon a time, each of the 30 heirs in our list might have hoped to add parliamentary power, by way of an unelected seat in the House of Lords, to their acres and fortunes. But the Blair axe will soon disconnect the richest group of people to be found in any one place in the country – hereditary peers in the House of Lords – from the power they have enjoyed for more than 700 years. Any separation from their money will be more difficult. Almost without exception, the wealth of the very rich is locked in trusts: legal entities which never die and which, crucially, do not attract inheritance tax. The young Lord Rothermere, for instance, excluded from this list because he has already inherited the money, owns more than 60 per cent of the Daily Mail and General Trust, which controls Associated Newspapers. The shares are held in a trust in Jersey. Because his father, who died last year, was a tax exile, no inheritance tax can be imposed on a fortune estimated at \u00a31.5 billion. Had the fortune been in the hands of the sort of middle Englander so beloved of the Daily Mail, the tax man would have had \u00a3600 million to contribute to the nation’s health. Continue reading…
\n
\nSource : theguardian.com
\nRead more…The elite<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

They may be about to lose their hereditary right to sit in the Lords, but...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-25273","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6zD","jetpack-related-posts":[{"id":53039,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/reform-property-laws-to-reduce-inequality-letters\/","url_meta":{"origin":25273,"position":0},"title":"Reform property laws to reduce inequality | Letters","date":"April 27, 2017","format":false,"excerpt":"\r \u00a0Ian Jack engagingly highlights the massive inequality being created by the inheritance of property (Property feeds the roots of inequality in Britain, 22 April), but does not say what can be done about it. Inheritance tax would be a good idea if people paid it, but they mostly don\u2019t.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21536,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/its-your-funeral-if-you-try-to-cheat-hmrc-on-property-values\/","url_meta":{"origin":25273,"position":1},"title":"It's your funeral if you try to cheat HMRC on property values","date":"September 15, 2012","format":false,"excerpt":"\r HMRC has raised \u00a388m by getting tough on the valuation of a deceased's property when assessing inheritance taxHomeowners will often talk up how much their house is worth, particularly when they are trying to sell. But as soon as someone drops off their perch, their heirs seem to start\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24212,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dukes-and-other-super-rich-are-not-the-only-ones-who-can-reduce-death-duties\/","url_meta":{"origin":25273,"position":2},"title":"Dukes and other super-rich are not the only ones who can reduce death duties","date":"August 28, 2016","format":false,"excerpt":"\r While attacked as a way to avoid inheritance task, setting up a trust is a legitimate form of financial planning which is available to anyoneWhen the 6th Duke of Westminster died this month, his son Hugh Richard Louis Grosvenor took on not just his father\u2019s title but also an\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38163,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dont-be-afraid-to-fight-for-the-city-lords-tell-the-government\/","url_meta":{"origin":25273,"position":3},"title":"Don\u2019t be afraid to fight for the City, Lords tell the Government\u00a0","date":"December 15, 2016","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...Don\u2019t be afraid to fight for the City, Lords tell the Government\u00a0","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84972,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lords-urge-review-of-murky-digital-advertising-market\/","url_meta":{"origin":25273,"position":4},"title":"Lords urge review of \u2018murky\u2019 digital advertising market","date":"April 11, 2018","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...Lords urge review of \u2018murky\u2019 digital advertising market","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61354,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-unprepared-for-cap-on-migration-and-cannot-count-it-properly-warn-lords\/","url_meta":{"origin":25273,"position":5},"title":"UK unprepared for cap on migration \u2013\u00a0and cannot count it properly, warn Lords\u00a0","date":"July 21, 2017","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...UK unprepared for cap on migration \u2013\u00a0and cannot count it properly, warn Lords\u00a0","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/25273"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=25273"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/25273\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=25273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=25273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=25273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}