David O'Day
Well-Known Member
they know they have lost the last election so are not even hiding the fact they will get everything they can out of it for them and their mates
they know they have lost the last election so are not even hiding the fact they will get everything they can out of it for them and their matesGood old Tories want to scrap inheritance tax and lower the rise of benefits, which would hit 9 million people and cost single mothers £218 a year.
Jeremy Hunt weighing up inheritance tax cut in autumn statement
Chancellor considering move after fall in inflation and being told he will have more money to spendwww.theguardian.com
Sent from my Pixel 7 using Tapatalk
How many people are leaving more than the current threshold without taking into account their house? No point increasing the inheritance tax threshold if they’re going to take your biggest asset off you to pay for care costsGood old Tories want to scrap inheritance tax and lower the rise of benefits, which would hit 9 million people and cost single mothers £218 a year.
How many people are leaving more than the current threshold without taking into account their house? No point increasing the inheritance tax threshold if they’re going to take your biggest asset off you to pay for care costs
To be honest I'd use it as a stepping stone.I feel like inheritance tax is pure baiting for the next Labour government who will inevitably and correctly look at restoring it. The £500k allowance for inheritibg a parent's home is significantly higher than the average house price (currently £291k). In any case, it is morally and economically correct that unearned wealth tax should increase over earned wealth imo.
Sent from my Pixel 7 using Tapatalk
Indeed. Inheritance really is luck over who your family is. Nothing aspirational about it whatsoever.I feel like inheritance tax is pure baiting for the next Labour government who will inevitably and correctly look at restoring it. The £500k allowance for inheritibg a parent's home is significantly higher than the average house price (currently £291k). In any case, it is morally and economically correct that unearned wealth tax should increase over earned wealth imo.
Sent from my Pixel 7 using Tapatalk
Christmas is nearly upon us should now be the time to tax gifts, after all the value of the gifts you get is also luck in many ways.
Taxed at the point of sale fellaChristmas is nearly upon us should now be the time to tax gifts, after all the value of the gifts you get is also luck in many ways.
How about gifts to yourself?Gifts are taxed.
still taxed at the point of purchaseYou know like clothes or electric bikes or a telly?
Gifts are taxed.
Not from an IHT perspective if you survive 7 years
And inheritance isn’t taxed if you leave less than the threshold. But gifts are taxable generally, with exemptions. Just like inheritance is, so the “oh ho! Shall we tax Christmas then?” Stuff doesn’t work. Just like inheritance reasonable amounts and various circumstances are exempt.
IHT in most cases is easily avoidable or certainly minimised completely legally
I don’t understand your point - a couple could legitimately and legally give £120,000 over a 20 year period free of tax
IHT in most cases is easily avoidable or certainly minimised completely legally
I wouldn’t describe countries such as Norway, Canada and New Zealand as far right libertarian societiesthe point is tax isn’t binary. The tax system is usually pretty good at exempting everyday stuff. The IHT stuff will never touch 97% of people, yet gets people’s backs up based on their own circumstances. That was all. Whether something is or isn’t taxed doesn’t mean much the question is are the thresholds and exemptions fair. Talk of abolishing it is far right libertarian nonsense.
I wouldn’t describe countries such as Norway, Canada and New Zealand as far right libertarian societies
I’d describe their IHT law as such. I think it’s needed in the UK more than most to counteract centuries of ingrained wealth and power that’s quite specific to us TBH.
I agree the big problem is that it's avoided by those who it is supposed to be aimed at, hence why I'd have no problem it being scrapped for a better system that is able to access those that are very wealthy.The problem with IHT is it’s probably avoided by a majority of the proper rich anyway. I’ve got no issue with the allowance being increased a bit although it probably shouldn’t be a tax priority, especially at the moment. Ordinary people near the allowance level should just blow the cash and enjoy themselves*. It’s their money so may as well do that rather than have it double taxed.
*they should do that anyway really. I’ve said to my mum and step dad I’d rather they spend it on themselves and enjoy their lives than pass it down
edit - also far better off giving it to a worthwhile charity than letting it go into any governments black hole and most likely wasted
He appears to be Bernard Manning, too!I saw Argentina has elected some libertarian right winger (libertarian usually just means the right for him and people like him to loot the country's remaining wealth).
He's bound to make some populist moves quite quickly. Falklands in time for the next election?
Sent from my Pixel 7 using Tapatalk
I saw Argentina has elected some libertarian right winger (libertarian usually just means the right for him and people like him to loot the country's remaining wealth).
He's bound to make some populist moves quite quickly. Falklands in time for the next election?
Sent from my Pixel 7 using Tapatalk
I saw Argentina has elected some libertarian right winger (libertarian usually just means the right for him and people like him to loot the country's remaining wealth).
He's bound to make some populist moves quite quickly. Falklands in time for the next election?
Sent from my Pixel 7 using Tapatalk
Rishi is (rightly)being thrown under the bus by Vallance today at the inquiry.
Earlier today he said Sage were not asked about the Eat Out scheme and knew nothing of it.
And just now...
"Asked whether the scheme increased the number of deaths, Vallance replies: "It's highly likely to have done"."
One myth that we can put to bed from the covid enquiry is that Boris is actually a very intelligent guy. He’s as thick as pig shit, incapable of understanding the most basic of information and not even able to process the evidence of his own eyes and what was happening in Europe and especially Italy. When the country needed leadership we were hamstrung with Boris.
It was the time when we also desperately needed an intelligent and focussed health secretary to absorb the science and be able to communicate it clearly and concisely to a PM with a minute attention span
The Johnson/Hancock double act really was as bad as it could get in a health emergency
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?