The Labour Government

blueinsa said:
Raynor suspended from UNITE and the union to asses its relationship with the party.

Starmer and Reeves now on borrowed time.
Click to expand...
Assess its relationship with the party.
Mmm - Maybe they have another suitor.
Could this be lift off for Jezbollah?
 
blueinsa said:
On borrowed time mate.

The PLP will dump them both imo
Click to expand...
To be replaced by who exactly? What are the alternatives? I'm sorry but I refuse to believe the PLP are going to oust any PM who delivered such a huge majority so soon into the term. Maybe if they head into the last year or two if they still have disasterous poll ratings.
 
BobKowalski said:
You mean the poor lambs will have to make do on a cool tax free £500k and 60% of what is left over? The horror of Starmer’s Britain laid bare. Shocking.
Click to expand...
Afternoon Bob, You really need to move on from this idea that everyone is passing money on tax free, many people have already paid tax on accumulating their inheritance "fund". Throw in house price inflation and the numbers of people falling into the higher bracket is growing year on year. And these are not the very wealthy, these are middle income earners, the ones that already pay the bulk of the UKs tax. They are effectively an easy target. The very rich always avoid paying their fair share of taxes, including inheritance tax.
 
M18CTID said:
In an ideal world we wouldn't pay any tax full stop! I just think IHT thresholds are an odd thing to get worked up about compared to all the other taxes out there, especially as it only affects 4% of the population. There's nothing wrong with parents helping their kids out financially with regards house deposits, etc. My point was that 2 parents leaving their house to their kids means that their children would have to inherit more than £1m before IHT kicks in. £1m is more than enough to get on the housing ladder, even if it was split 8 ways. Well, maybe not in certain parts of London and the South East but you get my point.

Someone I know has done really well for himself and he said he's fucked if he's leaving everything he's earned to his kids. His intention is to enjoy what's left of his life and spend as much of his wealth between now and when he pops his clogs because he's earned the right to, and he'll leave his house to the kids which should be more than enough to give them a significant leg up in life.
Click to expand...
I'm not worked up about it. The status quo is IMO fine. I'm worked up about other people getting worked up about it.
 
Churchlawtonblue said:
There is no chance of Reform forming the next government unless they merge with the Conservatives, and that will in itself probably split the Tory party and its vote. The poll surge for Reform is a protest vote imo, it's just pushing Labour to the right. That said it wouldnt surprise me if the next Parliament could well be hung, but I just can't see Farage and co getting anywhere near a majority.
Click to expand...
You may be right. I suspect he would tomorrow but of course a year is a long time in politics, let alone 4 years.

That's why I made my reservations about my voting intentions when asked. Who knows if Ben Habib for example may start to eat into the Reform vote.
 
M18CTID said:
In an ideal world we wouldn't pay any tax full stop! I just think IHT thresholds are an odd thing to get worked up about compared to all the other taxes out there, especially as it only affects 4% of the population. There's nothing wrong with parents helping their kids out financially with regards house deposits, etc. My point was that 2 parents leaving their house to their kids means that their children would have to inherit more than £1m before IHT kicks in. £1m is more than enough to get on the housing ladder, even if it was split 8 ways. Well, maybe not in certain parts of London and the South East but you get my point.

Someone I know has done really well for himself and he said he's fucked if he's leaving everything he's earned to his kids. His intention is to enjoy what's left of his life and spend as much of his wealth between now and when he pops his clogs because he's earned the right to, and he'll leave his house to the kids which should be more than enough to give them a significant leg up in life.
Click to expand...


That's not the whole story tho is it. 4% paid it four years ago. Look at the number of people who expect to pay it going forwards.


yougov.co.uk

Why do Britons think inheritance tax is unfair? | YouGov

Topping the list is the idea that it represents ‘double taxation’
yougov.co.uk yougov.co.uk
 
Kinkybyname said:
when it comes to IHT, I'm with this working-class hero...

View attachment 162562
Click to expand...
An interesting radio series by Tony Hawks.

www.bbc.co.uk

Tony Hawks Is Giving Nothing Away - Episode 1 - Giving - BBC Sounds

Tony Hawks starts to investigate the thorny issue of inheritance.
www.bbc.co.uk www.bbc.co.uk

Inheritance obviously fuels house price rises.

Why is it good to have house price inflation? If Labour succeeds in getting more houses built it will annoy NIMBYs whose motivation is not protecting green spaces but benefitting from their house increasing in value.
 
Churchlawtonblue said:
Afternoon Bob, You really need to move on from this idea that everyone is passing money on tax free, many people have already paid tax on accumulating their inheritance "fund". Throw in house price inflation and the numbers of people falling into the higher bracket is growing year on year. And these are not the very wealthy, these are middle income earners, the ones that already pay the bulk of the UKs tax. They are effectively an easy target. The very rich always avoid paying their fair share of taxes, including inheritance tax.
Click to expand...
..and including tax on land.
 
Chippy_boy said:
In an ideal world, I'd agree with you but the reality is with the tax burden as high as it is, childcare as expensive as it is, housing as expensive as it is, car tax, insurance, FOOD! etc etc, many families are struggling to put anything like enough aside for their retirement, and others may need funds from mum and dad to even get on the housing ladder.

And regards your first paragraph, well perhaps if equity release is an option - although in many cases it makes no sense. But we have to accept - as I am sure you do - that some people are better off than others and it will always be the case. That doesn't mean the better off people don't have struggles of their own. I am sure even the poorest posters on here live in relative luxury compared to someone trying to get in from e.g. Syria, yet anyone trying to tell an impoverished Labour voter on benefits to "stop moaning" would likely be criticized.

I can well imagine a retired lady with no money, little income and facing large bills, is pretty stressed about it.
Click to expand...
Some would call it a failure to forward plan
 
Churchlawtonblue said:
Afternoon Bob, You really need to move on from this idea that everyone is passing money on tax free, many people have already paid tax on accumulating their inheritance "fund". Throw in house price inflation and the numbers of people falling into the higher bracket is growing year on year. And these are not the very wealthy, these are middle income earners, the ones that already pay the bulk of the UKs tax. They are effectively an easy target. The very rich always avoid paying their fair share of taxes, including inheritance tax.
Click to expand...

And good afternoon to you. Currently, lounging in the garden soaking up the rays. A good time to be alive :)

It is tax free. How else do you describe money being transferred from one to party to another party with no tax being incurred? It is a factual statement, not one open to interpretation.
 
Churchlawtonblue said:
Afternoon Bob, You really need to move on from this idea that everyone is passing money on tax free, many people have already paid tax on accumulating their inheritance "fund". Throw in house price inflation and the numbers of people falling into the higher bracket is growing year on year. And these are not the very wealthy, these are middle income earners, the ones that already pay the bulk of the UKs tax. They are effectively an easy target. The very rich always avoid paying their fair share of taxes, including inheritance tax.
Click to expand...
Me daughter recentlee inherited a lot of cash and a house. Hasn't paid a penn in tax on it. Got a few bob from pension pots which was tax free.
 
Vic said:
An interesting radio series by Tony Hawks.

www.bbc.co.uk

Tony Hawks Is Giving Nothing Away - Episode 1 - Giving - BBC Sounds

Tony Hawks starts to investigate the thorny issue of inheritance.
www.bbc.co.uk www.bbc.co.uk

Inheritance obviously fuels house price rises.

Why is it good to have house price inflation? If Labour succeeds in getting more houses built it will annoy NIMBYs whose motivation is not protecting green spaces but benefitting from their house increasing in value.
Click to expand...
This is assuming they build so many that housing supply outstrips demand? Do you think that is going to happen Vic?
 
BobKowalski said:
And good afternoon to you. Currently, lounging in the garden soaking up the rays. A good time to be alive :)

It is tax free. How else do you describe money being transferred from one to party to another party with no tax being incurred? It is a factual statement, not one open to interpretation.
Click to expand...


OK let's call it money that has been taxed twice.

Enjoy, you are indeed correct, today is a good day. Avoid the news of heat waves and hosepipe bans already and enjoy. :-)
 
You must log in or register to reply here.
Unread Posts

Don't have an account? Register now and see fewer ads!

SIGN UP
Back
Top