2024 UK politics - now with Labour in charge
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Don't know if anyone else heard the interview with Sharon Graham of Unite this morning. I'm not sure why trade unions are wading in on pensioner benefits, but she was (unsurprisingly) raging about the iniquity of means testing a benefit and suggesting there was £25bn of tax available for the taking from a 1% wealth tax. 🙄😂
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
I did, and she was more of a trade union parody than Wolfy Smith. And incoherently ranting for more everything and less everything else, without any real understanding.
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Don’t you pay tax at the point of selling it? If not surely most people making a packet selling up would jump ship.
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A lot of people have roots and lives in the UK so will stay.
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He wants to avoid the taxes that haven't been announced yet.
In reality, I think he fancies living in a warm country for a while.
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He needs to be careful. He's already started to melt.
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Apart from the fact that it is incorrect, as Blakey has just pointed out...
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
Likely to get worse under Labour, as with most things tax related.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
Ok so one in 5. Big whoop. You think they’re leaving one person at home when the other goes to live abroad?
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You are going to have to show your workings on that one. Two people with 500k each (or one 500k house and 250k each) does not make two millionaires. Lies, damned lies and statistics.
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
And a lot will not.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
Yes I suppose there’s a big overlap between those with significant wealth who want to avoid paying their fair dues and those who will uproot and leave their friends and family to save a few quid
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Other countries idea of 'fair' is less than what Labour have in mind, unfortunately for us. And ultimately their departure will cost the exchequer money.
The problem with Labour is they don't take into account the human reaction to tax rises of this type, which is why it will very likely fail as a revenue raising tactic.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
So to add to the real millionaire who is planning over imaginary tax rises we can add lots of Stevo's imaginary millionaires.
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In the last couple of years, the pension has gone from £185.15 to £203.85 to £221.20. Due to the triple lock that last increase is more than 3 times the winter fuel allowance. Another year and the pension will eclipse the benefit cap for a couple. All these overnight converts to the idea of universal benefits need to get a grip.
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition1 -
I thought we'd established that Spain had a less favourable tax regime than the UK.
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
Not sure about your definition of established, but you stated it and I said it wasn't true for expats for a number of years.
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The evidence is that they do. It doesn't really matter what you make up in your head.
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It's a fair point that Spain are keen on a few trophy HNWI. The special tax regime lasts 6 years, so he'll have to move again fairly soon if he's that worried. If Mullins has already sold his shares to avoid a feared CGT rise, HMRC have already received several million pounds tax from this sale and will continue to receive the employment taxes, income taxes and VAT related to Pimlico Plumbers. I believe Mullins is planning to set up a new similar London-based business once his non-compete clause expires, He's not setting the business up in Spain, though.
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
He ought to set it up in Italy, I watched a video game about plumbers there once.
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I would assume that Pimlico Plumbers would be classed as a trading company and therefore his shares would qualify for Business Property Relief, and outside the IHT remit if he reinvested the proceeds back into BPR qualifying investments within 2 years of the sale.
Will Reeves attack BPR? Who knows but she would be really, really stupid to.
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he should get better people running his affairs
the uk allows the really rich to effectively avoid inheritance tax, grosvenor for instance didn't cough up 40% of the 9 billion he inherited
6% every ten years (with plenty of room for further avoidance), rather than 40% on death, obviously the years of roi on the amount not paid on death far outstrips the once a decade payment, trebles all round!
i suspect everyone would like a deal like that from the taxman
the estate's own attempt to justify (not the only one, they're all at it)...
https://www.grosvenor.com/about-us/how-we-work/tax-policy/the-facts-about-our-ownership
my bike - faster than god's and twice as shiny0 -
It’s almost like he’s a Tory (or Reform?) supporter trying to make a point and doing it badly.
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Please show me that evidence then.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
I know, a spot of humour but I can think of a better use than giving more money to train drivers.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
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Think how many homes you could upgrade for £2bn a year so that they didn't need a WFA.
The train driver settlement is an order of magnitude less than the WFA.
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
Yep and I've mentioned that giving in so easily to the train driver will only encourage the other unions - which we have already seen happening. It all adds up and pay for it.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
Just skimmed the last few pages but I think I've come up with a scheme to please.
Scrap the tax benefit of paying into a private pension saving £50bn. That way it is no longer sensible to contribute, so extra money gets pumped into the economy. People of Cambridge can then afford their mortgages on bigger/better houses or even better child care.
The added benefit is that when people reach retirement age, they can't afford to retire so either work til they drop of sell up, moving to smaller houses so the next generation with a sense of entitlement can move in. What's not to like?🤣
I'm sure that will be a winner in this middle class corner of the internet.😉🤣
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