LEAVE the Conservative Party and save your country!

Stevo_666

Dorset_Boy said:

super_davo said:

If you have serious money, you can avoid IHT, same as you can avoid most taxes. For example leaving in trust or multi trusts, which open up as many nil rate bands as you like.

This is the problem with the Tory approach to taxes - freeze bands so more and more people get caught by fiscal drag, whilst leaving massive backdoors open to dodge them if you have the money, contacts, lack of ethics etc.

IMO if the IHT threshold is catching the average family home, the nil rate band is too low. And a quick Google reveals the last time IHT bands were raised was.. 2009.

Another example of why any "taxes will be higher under Labour" stuff is so laughable.

The basic nil rate band hasn't changed since 2009, but there was no residence nil rate band then (introduced in April 2017), and the transferable nil rate band was only introduced in 2007.

IHT is a voluntary tax, but you really don't need 'serious money' to avoid it if a little over the thresholds.

Quite. It's not that difficult to avoid with a bit of foresight and planning.

Stevo_666

kingstongraham said:

Stevo_666 said:

Maybe we should be looking at countries that don't levy IHT to see what we can learn from them. Apart from my Swedish example, these include: Australia, Austria, Canada, China, Estonia, Hungary, India, Israel, Luxembourg, Mexico, New Zealand, Norway, Pakistan, Portugal, Serbia, Singapore, Slovakia and Slovenia. Seems like a good idea in practice if a good number of countries don't levy it.

There's a bit of an overlap with countries that levy a land value tax there.

Depends what your wealth consists of I guess, but my point stands - see also my additional list.

rick_chasey

wallace_and_gromit said:

rick_chasey said:

Spending some time with people who only are working to cover the gap till they inheit enough wealth to stop working; that’s enough to make ya socialist. Most overpromoted, lazy, useless sacks of sh!t who think the world owes them something because some distant family member actually made a success of themselves.

I get why you want to penalise inheritance now. My post surmised that in 20+ years, when it's Chasey Jnr's inheritance that is being taxed away, that Chasey Snr's views may have changed.

Chapeau to you if you are still prepared to happily hand over a large 6 figure sum (today's money) to the government.

I was brought up not to expect an inheritance and indeed encourage parents and in-laws to spend it all before dementia gets them.

I’ll do the same with mine. Go and earn it.

First.Aspect

rick_chasey said:

wallace_and_gromit said:

rick_chasey said:

Spending some time with people who only are working to cover the gap till they inheit enough wealth to stop working; that’s enough to make ya socialist. Most overpromoted, lazy, useless sacks of sh!t who think the world owes them something because some distant family member actually made a success of themselves.

I get why you want to penalise inheritance now. My post surmised that in 20+ years, when it's Chasey Jnr's inheritance that is being taxed away, that Chasey Snr's views may have changed.

Chapeau to you if you are still prepared to happily hand over a large 6 figure sum (today's money) to the government.

I was brought up not to expect an inheritance and indeed encourage parents and in-laws to spend it all before dementia gets them.

I’ll do the same with mine. Go and earn it.

You are not going to say that in 30 years from now when Richard Jnr is complaining about property prices being 3 times less affordable than when the lucky millenials were our age. He will be a highly successful headhunter who can barely afford a studio flat in Cambridge.

rjsterry

First.Aspect said:

rick_chasey said:

wallace_and_gromit said:

rick_chasey said:

Spending some time with people who only are working to cover the gap till they inheit enough wealth to stop working; that’s enough to make ya socialist. Most overpromoted, lazy, useless sacks of sh!t who think the world owes them something because some distant family member actually made a success of themselves.

I get why you want to penalise inheritance now. My post surmised that in 20+ years, when it's Chasey Jnr's inheritance that is being taxed away, that Chasey Snr's views may have changed.

Chapeau to you if you are still prepared to happily hand over a large 6 figure sum (today's money) to the government.

I was brought up not to expect an inheritance and indeed encourage parents and in-laws to spend it all before dementia gets them.

I’ll do the same with mine. Go and earn it.

You are not going to say that in 30 years from now when Richard Jnr is complaining about property prices being 3 times less affordable than when the lucky millenials were our age. He will be a highly successful headhunter who can barely afford a studio flat in Cambridge.

There's a small chance that by then we'll have stopped deliberately limiting house building to inflate property prices.

First.Aspect

rjsterry said:

First.Aspect said:

rick_chasey said:

wallace_and_gromit said:

rick_chasey said:

Spending some time with people who only are working to cover the gap till they inheit enough wealth to stop working; that’s enough to make ya socialist. Most overpromoted, lazy, useless sacks of sh!t who think the world owes them something because some distant family member actually made a success of themselves.

I get why you want to penalise inheritance now. My post surmised that in 20+ years, when it's Chasey Jnr's inheritance that is being taxed away, that Chasey Snr's views may have changed.

Chapeau to you if you are still prepared to happily hand over a large 6 figure sum (today's money) to the government.

I was brought up not to expect an inheritance and indeed encourage parents and in-laws to spend it all before dementia gets them.

I’ll do the same with mine. Go and earn it.

You are not going to say that in 30 years from now when Richard Jnr is complaining about property prices being 3 times less affordable than when the lucky millenials were our age. He will be a highly successful headhunter who can barely afford a studio flat in Cambridge.

There's a small chance that by then we'll have stopped deliberately limiting house building to inflate property prices.

Nah. We'll have rejoined the EU and people will retire to Spain or Portugal again.

Stevo_666

rick_chasey said:

wallace_and_gromit said:

rick_chasey said:

Spending some time with people who only are working to cover the gap till they inheit enough wealth to stop working; that’s enough to make ya socialist. Most overpromoted, lazy, useless sacks of sh!t who think the world owes them something because some distant family member actually made a success of themselves.

I get why you want to penalise inheritance now. My post surmised that in 20+ years, when it's Chasey Jnr's inheritance that is being taxed away, that Chasey Snr's views may have changed.

Chapeau to you if you are still prepared to happily hand over a large 6 figure sum (today's money) to the government.

I was brought up not to expect an inheritance and indeed encourage parents and in-laws to spend it all before dementia gets them.

I’ll do the same with mine. Go and earn it.

So who will you give your money and possessions to when you croak?

rick_chasey

Stevo_666 said:

rick_chasey said:

wallace_and_gromit said:

rick_chasey said:

Spending some time with people who only are working to cover the gap till they inheit enough wealth to stop working; that’s enough to make ya socialist. Most overpromoted, lazy, useless sacks of sh!t who think the world owes them something because some distant family member actually made a success of themselves.

I get why you want to penalise inheritance now. My post surmised that in 20+ years, when it's Chasey Jnr's inheritance that is being taxed away, that Chasey Snr's views may have changed.

Chapeau to you if you are still prepared to happily hand over a large 6 figure sum (today's money) to the government.

I was brought up not to expect an inheritance and indeed encourage parents and in-laws to spend it all before dementia gets them.

I’ll do the same with mine. Go and earn it.

So who will you give your money and possessions to when you croak?

If it goes anything like my family on either side, to pay for a decade long dementia decline.

Stevo_666

rick_chasey said:

Stevo_666 said:

rick_chasey said:

wallace_and_gromit said:

rick_chasey said:

Spending some time with people who only are working to cover the gap till they inheit enough wealth to stop working; that’s enough to make ya socialist. Most overpromoted, lazy, useless sacks of sh!t who think the world owes them something because some distant family member actually made a success of themselves.

I get why you want to penalise inheritance now. My post surmised that in 20+ years, when it's Chasey Jnr's inheritance that is being taxed away, that Chasey Snr's views may have changed.

Chapeau to you if you are still prepared to happily hand over a large 6 figure sum (today's money) to the government.

I was brought up not to expect an inheritance and indeed encourage parents and in-laws to spend it all before dementia gets them.

I’ll do the same with mine. Go and earn it.

So who will you give your money and possessions to when you croak?

If it goes anything like my family on either side, to pay for a decade long dementia decline.

And if you dodge that?

rjsterry

Stevo_666 said:

rick_chasey said:

Stevo_666 said:

rick_chasey said:

wallace_and_gromit said:

rick_chasey said:

Spending some time with people who only are working to cover the gap till they inheit enough wealth to stop working; that’s enough to make ya socialist. Most overpromoted, lazy, useless sacks of sh!t who think the world owes them something because some distant family member actually made a success of themselves.

I get why you want to penalise inheritance now. My post surmised that in 20+ years, when it's Chasey Jnr's inheritance that is being taxed away, that Chasey Snr's views may have changed.

Chapeau to you if you are still prepared to happily hand over a large 6 figure sum (today's money) to the government.

I was brought up not to expect an inheritance and indeed encourage parents and in-laws to spend it all before dementia gets them.

I’ll do the same with mine. Go and earn it.

So who will you give your money and possessions to when you croak?

If it goes anything like my family on either side, to pay for a decade long dementia decline.

And if you dodge that?

There's always Battersea Dogs Home. What could be more English?

rick_chasey

Stevo_666 said:

rick_chasey said:

Stevo_666 said:

rick_chasey said:

wallace_and_gromit said:

rick_chasey said:

Spending some time with people who only are working to cover the gap till they inheit enough wealth to stop working; that’s enough to make ya socialist. Most overpromoted, lazy, useless sacks of sh!t who think the world owes them something because some distant family member actually made a success of themselves.

I get why you want to penalise inheritance now. My post surmised that in 20+ years, when it's Chasey Jnr's inheritance that is being taxed away, that Chasey Snr's views may have changed.

Chapeau to you if you are still prepared to happily hand over a large 6 figure sum (today's money) to the government.

I was brought up not to expect an inheritance and indeed encourage parents and in-laws to spend it all before dementia gets them.

I’ll do the same with mine. Go and earn it.

So who will you give your money and possessions to when you croak?

If it goes anything like my family on either side, to pay for a decade long dementia decline.

And if you dodge that?

They’ll probably get something.

Hate the game, not the player. Unless there are some breakthroughs re dementia or I die in an accident, I fear this is my fate however.

wallace_and_gromit

rick_chasey said:

Stevo_666 said:

rick_chasey said:

Stevo_666 said:

rick_chasey said:

wallace_and_gromit said:

rick_chasey said:

Spending some time with people who only are working to cover the gap till they inheit enough wealth to stop working; that’s enough to make ya socialist. Most overpromoted, lazy, useless sacks of sh!t who think the world owes them something because some distant family member actually made a success of themselves.

I get why you want to penalise inheritance now. My post surmised that in 20+ years, when it's Chasey Jnr's inheritance that is being taxed away, that Chasey Snr's views may have changed.

Chapeau to you if you are still prepared to happily hand over a large 6 figure sum (today's money) to the government.

I was brought up not to expect an inheritance and indeed encourage parents and in-laws to spend it all before dementia gets them.

I’ll do the same with mine. Go and earn it.

So who will you give your money and possessions to when you croak?

If it goes anything like my family on either side, to pay for a decade long dementia decline.

And if you dodge that?

They’ll probably get something.

Hate the game, not the player. Unless there are some breakthroughs re dementia or I die in an accident, I fear this is my fate however.

There’s never much agreement on forums but I’m sure everyone here is “as one” in hoping that this is not your fate!🤞

Here’s hoping you are still in full command of your faculties in 30 years time to describe the moment here when you tell the Jnr Chaseys that rather than SKIing (Soending the Kids’ Inheritance) you’re giving it to the government. That will put telling them that Santa and the Tooth Fairy don’t exist into proper perspective!

Dorset_Boy

wallace_and_gromit said:

rick_chasey said:

Stevo_666 said:

rick_chasey said:

Stevo_666 said:

rick_chasey said:

wallace_and_gromit said:

rick_chasey said:

Spending some time with people who only are working to cover the gap till they inheit enough wealth to stop working; that’s enough to make ya socialist. Most overpromoted, lazy, useless sacks of sh!t who think the world owes them something because some distant family member actually made a success of themselves.

I get why you want to penalise inheritance now. My post surmised that in 20+ years, when it's Chasey Jnr's inheritance that is being taxed away, that Chasey Snr's views may have changed.

Chapeau to you if you are still prepared to happily hand over a large 6 figure sum (today's money) to the government.

I was brought up not to expect an inheritance and indeed encourage parents and in-laws to spend it all before dementia gets them.

I’ll do the same with mine. Go and earn it.

So who will you give your money and possessions to when you croak?

If it goes anything like my family on either side, to pay for a decade long dementia decline.

And if you dodge that?

They’ll probably get something.

Hate the game, not the player. Unless there are some breakthroughs re dementia or I die in an accident, I fear this is my fate however.

There’s never much agreement on forums but I’m sure everyone here is “as one” in hoping that this is not your fate!🤞

Here’s hoping you are still in full command of your faculties in 30 years time to describe the moment here when you tell the Jnr Chaseys that rather than SKIing (Soending the Kids’ Inheritance) you’re giving it to the government. That will put telling them that Santa and the Tooth Fairy don’t exist into proper perspective!

Don't worry, the junior Chasey's won't have been given any lifetime gifts of any sort during their lives so will be used to not getting anything from Rick. They'll have been paying for their own holidays, meals out, etc etc from the age of 16 because otherwise they'll have been receiving bits of inheritance along the way...

kingstongraham

Dorset_Boy said:

wallace_and_gromit said:

rick_chasey said:

Stevo_666 said:

rick_chasey said:

Stevo_666 said:

rick_chasey said:

wallace_and_gromit said:

rick_chasey said:

Spending some time with people who only are working to cover the gap till they inheit enough wealth to stop working; that’s enough to make ya socialist. Most overpromoted, lazy, useless sacks of sh!t who think the world owes them something because some distant family member actually made a success of themselves.

I get why you want to penalise inheritance now. My post surmised that in 20+ years, when it's Chasey Jnr's inheritance that is being taxed away, that Chasey Snr's views may have changed.

Chapeau to you if you are still prepared to happily hand over a large 6 figure sum (today's money) to the government.

I was brought up not to expect an inheritance and indeed encourage parents and in-laws to spend it all before dementia gets them.

I’ll do the same with mine. Go and earn it.

So who will you give your money and possessions to when you croak?

If it goes anything like my family on either side, to pay for a decade long dementia decline.

And if you dodge that?

They’ll probably get something.

Hate the game, not the player. Unless there are some breakthroughs re dementia or I die in an accident, I fear this is my fate however.

There’s never much agreement on forums but I’m sure everyone here is “as one” in hoping that this is not your fate!🤞

Here’s hoping you are still in full command of your faculties in 30 years time to describe the moment here when you tell the Jnr Chaseys that rather than SKIing (Soending the Kids’ Inheritance) you’re giving it to the government. That will put telling them that Santa and the Tooth Fairy don’t exist into proper perspective!

Don't worry, the junior Chasey's won't have been given any lifetime gifts of any sort during their lives so will be used to not getting anything from Rick. They'll have been paying for their own holidays, meals out, etc etc from the age of 16 because otherwise they'll have been receiving bits of inheritance along the way...

So I take it from this that there just needs to be a limit to prevent this kind of thing being problematic. Or if any gift over a few grand was taxed as part of the recipient's normal income this also wouldn't affect it.

Stevo_666

rick_chasey said:

Stevo_666 said:

rick_chasey said:

Stevo_666 said:

rick_chasey said:

wallace_and_gromit said:

rick_chasey said:

Spending some time with people who only are working to cover the gap till they inheit enough wealth to stop working; that’s enough to make ya socialist. Most overpromoted, lazy, useless sacks of sh!t who think the world owes them something because some distant family member actually made a success of themselves.

I get why you want to penalise inheritance now. My post surmised that in 20+ years, when it's Chasey Jnr's inheritance that is being taxed away, that Chasey Snr's views may have changed.

Chapeau to you if you are still prepared to happily hand over a large 6 figure sum (today's money) to the government.

I was brought up not to expect an inheritance and indeed encourage parents and in-laws to spend it all before dementia gets them.

I’ll do the same with mine. Go and earn it.

So who will you give your money and possessions to when you croak?

If it goes anything like my family on either side, to pay for a decade long dementia decline.

And if you dodge that?

They’ll probably get something.

Hate the game, not the player. Unless there are some breakthroughs re dementia or I die in an accident, I fear this is my fate however.

Not hating the player, just seeing where you stand on the point. Having had one parent die with Vascular Dementia it's not something I would wish on anyone so good luck with that - not sure that it is entirely hereditary though.

surrey_commuter

kingstongraham said:

Dorset_Boy said:

wallace_and_gromit said:

rick_chasey said:

Stevo_666 said:

rick_chasey said:

Stevo_666 said:

rick_chasey said:

wallace_and_gromit said:

rick_chasey said:

Spending some time with people who only are working to cover the gap till they inheit enough wealth to stop working; that’s enough to make ya socialist. Most overpromoted, lazy, useless sacks of sh!t who think the world owes them something because some distant family member actually made a success of themselves.

I get why you want to penalise inheritance now. My post surmised that in 20+ years, when it's Chasey Jnr's inheritance that is being taxed away, that Chasey Snr's views may have changed.

Chapeau to you if you are still prepared to happily hand over a large 6 figure sum (today's money) to the government.

I was brought up not to expect an inheritance and indeed encourage parents and in-laws to spend it all before dementia gets them.

I’ll do the same with mine. Go and earn it.

So who will you give your money and possessions to when you croak?

If it goes anything like my family on either side, to pay for a decade long dementia decline.

And if you dodge that?

They’ll probably get something.

Hate the game, not the player. Unless there are some breakthroughs re dementia or I die in an accident, I fear this is my fate however.

There’s never much agreement on forums but I’m sure everyone here is “as one” in hoping that this is not your fate!🤞

Here’s hoping you are still in full command of your faculties in 30 years time to describe the moment here when you tell the Jnr Chaseys that rather than SKIing (Soending the Kids’ Inheritance) you’re giving it to the government. That will put telling them that Santa and the Tooth Fairy don’t exist into proper perspective!

Don't worry, the junior Chasey's won't have been given any lifetime gifts of any sort during their lives so will be used to not getting anything from Rick. They'll have been paying for their own holidays, meals out, etc etc from the age of 16 because otherwise they'll have been receiving bits of inheritance along the way...

So I take it from this that there just needs to be a limit to prevent this kind of thing being problematic. Or if any gift over a few grand was taxed as part of the recipient's normal income this also wouldn't affect it.

without being rude I don't think you realise how much wealthy people subsidise their offspring.

If Daddy rents a tuscan villa for 2 weeks for £20k and his 3 kids and families come to stay how does the tax man know and if he did how do you work out the value to each taxpayer. Asking if he has to account for buying his grandkids an ice cream sounds ludicrous but by the end of the fortnight it will be another couple of grand on incidentals.

Scrap all exemptions and make the rate very low to remove the need to fiddle it.

wallace_and_gromit

Dorset_Boy said:

wallace_and_gromit said:

rick_chasey said:

Stevo_666 said:

rick_chasey said:

Stevo_666 said:

rick_chasey said:

wallace_and_gromit said:

rick_chasey said:

Spending some time with people who only are working to cover the gap till they inheit enough wealth to stop working; that’s enough to make ya socialist. Most overpromoted, lazy, useless sacks of sh!t who think the world owes them something because some distant family member actually made a success of themselves.

I get why you want to penalise inheritance now. My post surmised that in 20+ years, when it's Chasey Jnr's inheritance that is being taxed away, that Chasey Snr's views may have changed.

Chapeau to you if you are still prepared to happily hand over a large 6 figure sum (today's money) to the government.

I was brought up not to expect an inheritance and indeed encourage parents and in-laws to spend it all before dementia gets them.

I’ll do the same with mine. Go and earn it.

So who will you give your money and possessions to when you croak?

If it goes anything like my family on either side, to pay for a decade long dementia decline.

And if you dodge that?

They’ll probably get something.

Hate the game, not the player. Unless there are some breakthroughs re dementia or I die in an accident, I fear this is my fate however.

There’s never much agreement on forums but I’m sure everyone here is “as one” in hoping that this is not your fate!🤞

Here’s hoping you are still in full command of your faculties in 30 years time to describe the moment here when you tell the Jnr Chaseys that rather than SKIing (Soending the Kids’ Inheritance) you’re giving it to the government. That will put telling them that Santa and the Tooth Fairy don’t exist into proper perspective!

Don't worry, the junior Chasey's won't have been given any lifetime gifts of any sort during their lives so will be used to not getting anything from Rick. They'll have been paying for their own holidays, meals out, etc etc from the age of 16 because otherwise they'll have been receiving bits of inheritance along the way...

Due to hard work and a certain amount of good fortune (though certainly not any inheritance) I'm in the fortunate position of having a fair amount of discretionary spending power. I could blow it on a fast car, a mistress (and potentially a divorce settlement) or crypto currency speculation etc. Instead, we (Mrs W&G and I) choose to spend a lot on doing stuff with our kids. It's a couple of £k to take them on holiday, but the memories / experiences that result are priceless. Likewise, you can't put a value on how much we enjoy doing proper bike rides with our First Born, with her riding the fairly pricey bike we bought her. (Particularly when there's a headwind home. She's much better than we are, and throws down a very good wind shadow, thanks to her swimming-honed shoulders!)

rick_chasey

Well done everyone

https://twitter.com/samcoatessky/status/1666357071543926787?s=46&t=Q7O5dnx-0MXQv9qE3vz1vg

briantrumpet

rick_chasey said:

Well done everyone

https://twitter.com/samcoatessky/status/1666357071543926787?s=46&t=Q7O5dnx-0MXQv9qE3vz1vg

Remember, don't mention Brexit.

briantrumpet

I hope that the new owners of the Telegraph turn it back into a proper newspaper rather than a collection of opinion pieces by certifiable loons.

https://twitter.com/jamesrbuk/status/1666423837330747401

rick_chasey

Not many people enjoy running heavily loss making organisations so if they’re going to pay for the privilege of keeping it afloat it’s unlikely to be balanced.

briantrumpet

rick_chasey said:

Not many people enjoy running heavily loss making organisations so if they’re going to pay for the privilege of keeping it afloat it’s unlikely to be balanced.

Not expecting it to be balanced (it's always been on the right, obviously) but hoping it might not descend further into the Express swamp.

rick_chasey

In general I feel the quality of newspapers has got worse over the past decade.

Slowest decline has been in the expensive papers, which figures.

briantrumpet

No decline in Private Eye, IMHO, which remains one of the must-read ones. A number of reasons, but as far as I know no owners or advertisers holding them to ransom, so they can go after whoever they please.

rick_chasey

briantrumpet said:

No decline in Private Eye, IMHO, which remains one of the must-read ones. A number of reasons, but as far as I know no owners or advertisers holding them to ransom, so they can go after whoever they please.

Yeah. Expensive though, given the output volume.

briantrumpet

rick_chasey said:

briantrumpet said:

No decline in Private Eye, IMHO, which remains one of the must-read ones. A number of reasons, but as far as I know no owners or advertisers holding them to ransom, so they can go after whoever they please.

Yeah. Expensive though, given the output volume.

Indeed, but I think it has an effect which is not in direct proportion to its size, because of the nature of its reporting, and is why (I suspect) a lot of people like me subscribe to it.

kingstongraham

briantrumpet said:

I hope that the new owners of the Telegraph turn it back into a proper newspaper rather than a collection of opinion pieces by certifiable loons.

https://twitter.com/jamesrbuk/status/1666423837330747401

Maybe Saudi Arabia could buy it.

briantrumpet

Carol Vorderman putting her maths skills to productive use...

https://twitter.com/PolitlcsUK/status/1666466720171565056

wallace_and_gromit

There were similar websites for the 2019 GE, with a conspicuous lack of success. Folk are remarkably stubborn for GEs in a way they aren't for local elections. Which is why, collectively, we deserve the Tories, as the anti-Tory voters weren't willing to vote tactically in sufficient numbers.

I was something of an outlier in 2019. I didn't particularly want to vote for Jezza in 2019, but I did, as the Labour candidate at least had a chance, whereas the LD candidate was in lost deposit territory. (Though my constituency was always going to return a Tory MP in 2019, if for no other reason, the sitting MP is a very good local MP who has achieved a fair amount - BT Broadband in remote villages and securing cash for flood defences - despite being a Johnson stooge.)

Stevo_666

wallace_and_gromit said:

There were similar websites for the 2019 GE, with a conspicuous lack of success. Folk are remarkably stubborn for GEs in a way they aren't for local elections.

Agree. Which is why, despite all the prediction of a Tory wipeout at the next GE, the lefties and centre lefties still feel the need to resort to tactical voting.