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April 27 2024 8.04pm

Inheritance Tax

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View cryrst's Profile cryrst Flag The garden of England 17 Jul 23 5.14pm Send a Private Message to cryrst Add cryrst as a friend

Originally posted by JRW2

I don't know whether I understand this fully.

Looking at the 2 first paragraphs of the above edited version of cryrst's post, are "gifts" and "exemptions" two different things. Could someone, for example, make "gifts" of £250 a year to 10 people and still have his £3000 "exemption" available to give away as he saw fit?

Then it seems that someone can in addition to the above make "regular payments" to another person. Does that mean only one person or any number? And is £720 a year a limit or just an example?

No wonder Tolly's, the accountant's bible, runs to over 1000 pages. I think one of the Treasury's main aims must be to make tax law incomprehensible. Why not get rid of these footling allowances and the conditions and exclusions that surround them and just have one simple allowance? Or, preferably, get rid of the whole thing!

Also if they get married its 5 k as a gift. Better get used to wedding cake
Basically the loophole as I see it is sell up. Buy a business. Get an income, prove you can survive on half and give the other half away. Looks like the only loophole tbh.

 

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View Matov's Profile Matov Flag 17 Jul 23 6.22pm Send a Private Message to Matov Add Matov as a friend

Should inheritance tax be abolished?

100%.

Will this modern Conservative Party ACTUALLY abolish it should they somehow win the next election?

0%

Nothing more than just dangling red meat in front of the decent people it has betrayed over the last decade or so.

These pieces of s*** actually got rid of a Prime Minister because she wanted to cut tax. And now they are putting this out there?

They are taking us all for morons.

 


"The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command." - 1984 - George Orwell.

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View eagleman13's Profile eagleman13 Flag On The Road To Hell & Alicante 17 Jul 23 6.34pm Send a Private Message to eagleman13 Holmesdale Online Elite Member Add eagleman13 as a friend

Originally posted by Matov

Should inheritance tax be abolished?

100%.

Will this modern Conservative Party ACTUALLY abolish it should they somehow win the next election?

0%

Nothing more than just dangling red meat in front of the decent people it has betrayed over the last decade or so.

These pieces of s*** actually got rid of a Prime Minister because she wanted to cut tax. And now they are putting this out there?

They are taking us all for morons.

Nothing changes Matov, isn't that the same for ALL goverments?

 


I'm a blind man, i'm a blind man, now my room is cold,
When a blind man cries, Lord, he feels it from his soul.
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View Matov's Profile Matov Flag 17 Jul 23 6.52pm Send a Private Message to Matov Add Matov as a friend

Originally posted by eagleman13

Nothing changes Matov, isn't that the same for ALL goverments?


At the moment, 100%. The only thing I would say in the Lefts defence, and trust me that does not happen often, is that they tell us they want more migrants and more taxes. They are honest, at least about that. Where as the Tories just tell you are they want less of both and lumber us with more.

A fundamental difference.

Edited by Matov (17 Jul 2023 6.53pm)

 


"The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command." - 1984 - George Orwell.

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View Hrolf The Ganger's Profile Hrolf The Ganger Flag 17 Jul 23 7.18pm Send a Private Message to Hrolf The Ganger Add Hrolf The Ganger as a friend

Originally posted by Matov


At the moment, 100%. The only thing I would say in the Lefts defence, and trust me that does not happen often, is that they tell us they want more migrants and more taxes. They are honest, at least about that. Where as the Tories just tell you are they want less of both and lumber us with more.

A fundamental difference.

Edited by Matov (17 Jul 2023 6.53pm)

Hardly reasons to vote for them.

I'd rather have a tin of spam as Prime Minister than Keir Starmer and we already have something approaching one.

 

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View georgenorman's Profile georgenorman Flag 17 Jul 23 7.41pm Send a Private Message to georgenorman Add georgenorman as a friend

Originally posted by Matov

Should inheritance tax be abolished?

100%.

Will this modern Conservative Party ACTUALLY abolish it should they somehow win the next election?

0%

Nothing more than just dangling red meat in front of the decent people it has betrayed over the last decade or so.

These pieces of s*** actually got rid of a Prime Minister because she wanted to cut tax. And now they are putting this out there?

They are taking us all for morons.

is it too soon to look back on the Truss premiership as a golden age?

 

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View Matov's Profile Matov Flag 17 Jul 23 7.46pm Send a Private Message to Matov Add Matov as a friend

Originally posted by Hrolf The Ganger

Hardly reasons to vote for them.

I'd rather have a tin of spam as Prime Minister than Keir Starmer and we already have something approaching one.

I don't disagree but I am convinced Starmer is effectively being put into power by way of taking us back into the EU.

And when they happens, then a new Brexit party will emerge. But this time it HAS to go for complete power. Potentially via adopting a full-on English nationalist stance but whatever happens, they have to at least try. Starmer is being gifted number 10 for the purposes of taking us back into the EU. Even this measure under discussion is aimed primarily at saving Tory seats in the shires.

Can you honestly tell me at the the difference between what a Tory Government at the moment, still with a majority of 50 plus, is DOING any different to what a Starmer led Labour Government would do? Ignore what the Tories say, just on what is happening.

 


"The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command." - 1984 - George Orwell.

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View Hrolf The Ganger's Profile Hrolf The Ganger Flag 17 Jul 23 8.50pm Send a Private Message to Hrolf The Ganger Add Hrolf The Ganger as a friend

Originally posted by Matov

I don't disagree but I am convinced Starmer is effectively being put into power by way of taking us back into the EU.

And when they happens, then a new Brexit party will emerge. But this time it HAS to go for complete power. Potentially via adopting a full-on English nationalist stance but whatever happens, they have to at least try. Starmer is being gifted number 10 for the purposes of taking us back into the EU. Even this measure under discussion is aimed primarily at saving Tory seats in the shires.

Can you honestly tell me at the the difference between what a Tory Government at the moment, still with a majority of 50 plus, is DOING any different to what a Starmer led Labour Government would do? Ignore what the Tories say, just on what is happening.

I'm not a fan of saying that it couldn't get any worse. It really could.

I'd rather see an anti immigration, pro Brexit party now that can fight the next general election. It has to be credible and have a proper manifesto beyond its key aims.
I would like to see Tory Brexiters join plus former UKIP members, especially Farage. That would give it a bit of solidity to start with.

 

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View Matov's Profile Matov Flag 17 Jul 23 9.23pm Send a Private Message to Matov Add Matov as a friend

Originally posted by Hrolf The Ganger

I'm not a fan of saying that it couldn't get any worse. It really could.

I'd rather see an anti immigration, pro Brexit party now that can fight the next general election. It has to be credible and have a proper manifesto beyond its key aims.
I would like to see Tory Brexiters join plus former UKIP members, especially Farage. That would give it a bit of solidity to start with.

I don't disagree but there is not the political foundations to build this, at the moment.

The drive to get us out of the EU created a political revolution in this country. Metaphorically tore the Establishment another arsehole. But they recovered, and now here we are again.

The next time we fight to leave the EU once again, it has to be about SO much more than just exiting. It has to be about wiping out the establishment because that is the only way to finally succeed. Westminster is far more our enemy than Brussels. That was the fatal mistake in the run-up to 2016.

But we have to let what is going to happen in 2024 run its course. We NEED the stab in the back narrative if effective change is going to be made because otherwise this is all just a blip that will be smeared and written off.

 


"The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command." - 1984 - George Orwell.

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View Goal Machine's Profile Goal Machine Flag The Cronx 17 Jul 23 10.50pm Send a Private Message to Goal Machine Add Goal Machine as a friend

IHT receipts are around £7b and at an all time high. Seems odd that the government would scrap it. This combined with the scrapping of pension Lifetime Allowance and increasing the annual allowance to £60k will win some votes from the wealthy folk.

People say they hate it, but as we say in the industry, IHT is a voluntary tax. It’s easy to avoid for most people if planned for but most are either not bothered enough to act or leave it too late.

 

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View HKOwen's Profile HKOwen Flag Hong Kong 17 Jul 23 11.25pm Send a Private Message to HKOwen Add HKOwen as a friend

Conventional wisdom is only 4% of deaths incur IT, that's @ 20,000 per year according to Govt stats.

It's an a emotive subject, rightly so , and will help keep votes in the blue wall areas.

 


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