| Topic: Jack Charlton’s son facing a £200,000 inheritance tax |
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| 1. Author: NMCmassive Date: Sat 1st Aug 2026. 18:58 Jack Charlton’s son John has described facing a £200,000 inheritance tax issue related to his father’s 1966 World Cup winners’ medal. HMRC has apparently valued the memorabilia and said it’ll cost him £200,000 for the pleasure of keeping the medal. The medal has been handed back to his mother to avoid paying the inheritance tax until they can find a resolution. My resolution is that inheritance tax goes in the bin. I find it all round disgusting. COYP Reply |
| 2. Author: DBP Date: Sat 1st Aug 2026. 19:14 That’s outrageous I’m with you in Inheritance tax, if something is mine, I should be able to give it to whomever I like without the government sticking their nose in and trying to somehow take some of it. Reply |
| 3. Author: Dave_1885 Date: Sat 1st Aug 2026. 19:16 Thought inheritance tax was on anything over £300k? Does that mean they are valuing the medal at £1.3m? Bit steep….. Reply |
| 4. Author: NMCmassive Date: Sat 1st Aug 2026. 19:24 Dave_1885, Sat 1 Aug 19:16 That’s what I thought so I actually checked how they value it which has lead me to more questions but I’ve not had the time to dig deeper. So they’ve got to the £200,000 by using what it would be valued at on the open market and the open market valuation come from pervious sales inflation and a percentage of variability. Alan Balls medal sold in 2022 for £200,000 at the hammer but that’s £252,000ish incl commissions/fees etc. Nobby Stiles sold for £160,000 at the hammer. So maybe an overall value of £200,000 is about right but I’m wondering why he’s paying £200,000. I know different items get different classifications so I don’t know if they want the full value of somethings and not other things or how it all works. Thankfully not had to deal with any of it yet. COYP Reply |
| 5. Author: LochgellyAlbert Date: Sat 1st Aug 2026. 20:09 Would imagine that the value would be added to the total estate ie house, contents etc. A friend of mine has recently paid HMRC £90K on his great uncle`s estate! Reply |
| 6. Author: jake89 Date: Sat 1st Aug 2026. 20:23 You`re allowed £500k assuming you leave your home to your kids. £1m if you`re a married couple. The problem with something like a medal is that it`s both priceless and worthless. Unfortunately, it does have a value on the open market but his son would never wish to sell it. Jack Charlton should have gifted it to him many years ago even unofficially to avoid this. Rules is rules and loads of people get caught out. We have an aging population and someone`s got to pay the care bills. ETA - his mum can gift it to her son and hope she clings on long enough for it to be exempt. Alternatively, claim it was misplaced. Amazing how these things can get lost... Post Edited (Sat 01 Aug 20:25) Reply |
| 7. Author: The One Who Knocks Date: Sat 1st Aug 2026. 20:44 Yes I`m sure his son would never wish to sell it..... And although my eyes were open They just might as well be closed Reply |
| 8. Author: hurricane_jimmy Date: Sat 1st Aug 2026. 21:17 That`s why you sign it over to your kids before you kick the bucket...be smart and consult your solicitors! Reply |
| 9. Author: Wotsit Date: Sat 1st Aug 2026. 22:55 What legislation is this under? I`m not aware of any current inheritance tax mechanism that would tax £200k inheritance. “The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command.” Reply |
| 10. Author: jake89 Date: Sat 1st Aug 2026. 23:47 Wotsit, Sat 1 Aug 22:55 Assuming his dad left him the medal in his will, it must be worth close to £1m, resulting in a tax of £200k on this "windfall". If it`s gone to his mum, she should gift it to her son now. The amount of tax due reduces for each year it`s his and becomes £0 after 7 years. Reply |
| 11. Author: ipswichpar Date: Sun 2nd Aug 2026. 07:07 Well I hope he lives for at least 7 years or he has created another tax risk..... and his mum (and not just for tax reasons, obviosuly). The reporting on this story can`t be correct, and the wording on his statement is ambiguous.... I`ll leave you to determine if you think that`s intention or not. This always strikes me as being unfair in that those with less can`t perhaps afford the advice they need and, even if it was given and followed, we`ll just see more stories of "I gifted money to my family but then they just stopped talking to me because they were only in it for the money". This isn`t a problem that`s going to be easy to solve. But if they can send out health reminders to 50 year olds, it would sensible to do something similar with tax to avoid being accused of not happily taking folks` money without making them fully aware of stuff. Reply |
| 12. Author: NMCmassive Date: Sun 2nd Aug 2026. 09:40 Irrespective of how HMRC work out what he’s to pay or how much or how little someone has to pay I genuinely believe 100% death tax need to be abolished. I think it’s so disgusting that we’re discussing the value of a medal so that HMRC can get their own wee bit. They literally tax us from birth into the afterlife. On a personal level it can have huge impacts on someone’s life (see poster above - £90k) while it raises not a lot on a national scale. It raises £8billion ish a year The UK raises around £800-900billion a year in total. broader UK public-sector receipts including non-HMRC sources such as council tax, business rates, and other income are higher around £1.1–1.2 trillion. Yeah but let’s take away people’s opportunities to help their or receive help from their loved ones for arguably less than 1% of tax income. COYP Reply |
| 13. Author: ipswichpar Date: Sun 2nd Aug 2026. 09:42 Sorry...... where is the 100% death tax? Reply |
| 14. Author: NMCmassive Date: Sun 2nd Aug 2026. 10:00 ipswichpar, Sun 2 Aug 09:42 “I genuinely believe 100%, death tax needs to be abolished” Not “100% death tax” I really should have put a comma in there COYP Reply |
| 15. Author: ipswichpar Date: Sun 2nd Aug 2026. 10:43 Sorry, I should have been a bit smarter about what you obviously meant! Reply |
| 16. Author: NMCmassive Date: Sun 2nd Aug 2026. 10:44 My fault 🤦🏻♂️😂 COYP Reply |
| 17. Author: Wotsit Date: Sun 2nd Aug 2026. 11:27 What is the ideological argument in favour of mollycoddling the offspring of some people because they happened to have competent parents? Doesn`t inherited wealth create weak people who don`t know the value of hard work because they know they`ll be handed everything on a plate through the work of others? “The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command.” Reply |
| 18. Author: NMCmassive Date: Sun 2nd Aug 2026. 11:35 Wotsit, Sun 2 Aug 11:27 I wonder what you’d say if you couldn’t inherit from your family unless you paid £200,000. It probably wouldn’t be that ☝🏻 It’s not about mollycoddling the rich. It’s about families being able to build up assets and capital to pass on to their kids so that can continue to grow the assets and capital to pass onto their kids. It creates inter-generational wealth that could raise a families financial status. Instead an inheritance tax creates further obstacles and keeps the rich, rich and the poor with less opportunities. COYP Reply |
| 19. Author: ipswichpar Date: Sun 2nd Aug 2026. 11:49 Wotsit, Sun 2 Aug 11:27 Similarly, but in the opposite direction, how many people would think "Jack that, the state will take everything anyway so what`s the point?". One of my biggest drivers is working hard to leave something decent for my kids. It hasn`t stopped either of my kids working very hard to follow their own dreams. It simply feels like jealousy to me.... many folk are much richer than me...good for them. Some people won the lottery this week, I didnt..... good for them. Folk get taxed when the money comes in. I think there should be an element of tax on the way out to ensure that there`s funded quality social care when people need it. But to take everything off everyone is absolutely bonkers..... and good luck trying to get elected on that one. Reply |
| 20. Author: LochgellyAlbert Date: Sun 2nd Aug 2026. 14:31 Thought inheritance tax kicked in at £325K?🤔 Reply |