National insurance cut

[mattyfez]

Inheritance tax is just another tax on the less well off. Its designed to keep people in their place, cant have to many up and commers entering the sphere of the North Norfolk Holiday yaaaaah team.

It really isn't...
As mentioned above you can inherit circa 1million tax free of you make sensible use of allowance..
For example you can double your allowance your married partner predeceases you and they left everything to the surviving spouse.
Plus property allowance if the property is left to children or grandchildren

 

[CapitalOne]

Inheritance tax is just another tax on the less well off. Its designed to keep people in their place, cant have to many up and commers entering the sphere of the North Norfolk Holiday yaaaaah team.

North Norfolk you say?

 

[Bluecube]

A reduction in the personal allowance would not have affected most politicians because they pay the company rate, whereas a reduction in NI will . In other words, what the conservatives have done here is given a tax reduction, but in a way that will increase the take-home of themselves. Had they just changes the personal rate, that would not have happened.

Absolute cobblers. Nothing of what you have said is true. Individuals cannot pay the "company rate" of tax. I've no idea how you're managing to link NI to business tax rates.

 

[SPG]

It really isn't...
As mentioned above you can inherit circa 1million tax free of you make sensible use of allowance..
For example you can double your allowance your married partner predeceases you and they left everything to the surviving spouse.
Plus property allowance if the property is left to children or grandchildren

I am sorry the way to circumnavigate the tax is again a system for the rich, who can afford the knowledge to pay for paperwork in setting up trusts etc.

 

[mattyfez]

I am sorry the way to circumnavigate the tax is again a system for the rich, who can afford the knowledge to pay for paperwork in setting up trusts etc.

Again it isn't.. Even if you don't pay a solicitor to do estate accounts for you, you'll have to do the tax declarations /paperwork yourself anyway... Trusts or other complex tax avoidance vehicles haven't got anything to do with it unless you are looking at a huge estate, in which case you'll be able to afford (and better off for peace of mind) a solicitor /financial adviser to do all that for you.


I'm just referring to standard /basic tax allowances which you'll need to Google to do it correctly anyway, lol

 

[413x]

Inheritance tax is just another tax on the less well off. Its designed to keep people in their place, cant have to many up and commers entering the sphere of the North Norfolk Holiday yaaaaah team.

Opposite.
IHT should (in theory) bring some balance to people starting rich and never having to do anything vs others who work hard but didn't get that head start.

IHT should be more aggressive. It shouldn't be avoidable with trust funds etc.

Old money is a massive part of keeping rich rich and poor poor. And lack of wealth tax in our system just magnifies this.


IHT needs to stay. And it needs to be inescapable

 

[neocon]

Opposite.
IHT should (in theory) bring some balance to people starting rich and never having to do anything vs others who work hard but didn't get that head start.

IHT should be more aggressive. It shouldn't be avoidable with trust funds etc.

Old money is a massive part of keeping rich rich and poor poor. And lack of wealth tax in our system just magnifies this.


IHT needs to stay. And it needs to be inescapable

But rich people don't pay it and since they make the rules, they will always leave a loop hole.

 

[413x]

But rich people don't pay it.

That's what I said. It needs to be inescapable.
You shouldn't be able to buy your way out of it like you can now.

 

[neocon]

Communism, no thanks

 

[tonys]

Communism, no thanks

I'm sure they have found out that communism doesn't work

 

[Richard_16v]

It amazes me that this country is in such a dreadful state and yet no one seems to know or care.

Once upon a time the Conservatives used to be the party that had good economic sense. No more. The country in a far worse state than it was in 13 years ago. I am sorry I ever voted for them.

The worrying thing is I don't see Labour making it any better when they get in.

We need a complete overhaul of politics, but it's never going to happen

 

[tonys]

The worrying thing is I don't see Labour making it any better when they get in.

We need a complete overhaul of politics, but it's never going to happen

I've always said that they are all as bad as each other but no-one will believe me.

 

[413x]

The worrying thing is I don't see Labour making it any better when they get in.

We need a complete overhaul of politics, but it's never going to happen

If we can't even get FPTP because of the selfishness of the big 2, I can't see any big shifts anytime soon.

 

[neocon]

This is quite interesting

Estate and Inheritance Taxes around the World

The U.S. is one of many countries that levies taxes on estates or inheritances. Of all America’s taxes, the estate tax is perhaps the most contentious.

taxfoundation.org

Surprised to see Australia and NZ with no IHT.

 

[mattyfez]

If we can't even get FPTP because of the selfishness of the big 2, I can't see any big shifts anytime soon.

I think you mean PR? We already have FPTP

 

[413x]

I think you mean PR? We already have FPTP

Yes! My bad!

 

[kissenger]

They didn't see it coming, that is true - although I don't recall anyone else seeing it coming either - but they neither inherited a surplus nor ran big deficits. They were actually running lower deficits than was run throughout most of the previous Tory administration:

(Also, note how hilariously wrong those forecasts were!)

It's literally there in black and white: They had a surplus in '97?

 

[mattyfez]

This is quite interesting

Estate and Inheritance Taxes around the World

The U.S. is one of many countries that levies taxes on estates or inheritances. Of all America’s taxes, the estate tax is perhaps the most contentious.

taxfoundation.org

Surprised to see Australia and NZ with no IHT.

That doesn't paint the full picture though... it states UK IHT is 40%, but unless the estate is worth over a million quid, it's essentially 0%

 

[Freakbro]

It's literally there in black and white: They had a surplus in '97?

Errr no the lines above 0 are a deficit, it's only the few lines below that are a surplus. (Learn to read axis labels?)

 

[Efour]

Problem is (controversial) there's nothing of worth in the UK anymore....
Historically sure but now, nothing but over priced real estate and an extremely apathetic future generation.
"Why bother fighting for your country" is the vibe given off. Why indeed when you can't realistically ever afford to take part in being part of the future?
Morale has probably never been lower?
Honestly the west needs a wake up, shake up moment. It's not just the UK every country is wrecking the future to pay now.
No country will pay their deficit it's not happening, we need a better way to think about it.
The great reset..... My god it's cringe but something has to happen. WW3 maybe? Worm god? Vulcan first contact ...I'm living for the now. I don't see much future in 50 years, even on the cusp of amazing technological breakthrough with power generation and AI, we'll **** it up somehow.

Vote lib dem.

Sweden is no better incase you think I'm being a traitorous c word