Mr Kobayashi
Well-Known Member
You don't, your beneficiaries do.
Also, as it stands your beneficiaries won't be paying much inheritance tax if any.
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Stamp Duty
- Thread starter Chippy_boy
- Start date
You don't, your beneficiaries do.
Also, as it stands your beneficiaries won't be paying much inheritance tax if any.
50% poll for Labour would say a lot.This government doesn’t care what we think. That’s been obvious for years.
What metric would you use to suggest whether the public are angry or not?
Why is inherited wealth a good thing?Stamp duty is not as abhorrent as Death (inheritance) tax, why the fuck any should have to pay tax for dying is beyond me, all that they bought etc has already had tax paid on it, I don’t care if your rich or poor, no one should pay tax on dying.
Blue Maverick
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- 6 Aug 2010
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- 19,940
Why isn’t it, if someone works hard to provide for their family and pay their taxes to do that, why tax again?Why is inherited wealth a good thing?
Kompany Car
Well-Known Member
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- 19 Sep 2015
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Under current rules the threshold is effectively £1m.Stamp duty is not as abhorrent as Death (inheritance) tax, why the fuck any should have to pay tax for dying is beyond me, all that they bought etc has already had tax paid on it, I don’t care if your rich or poor, no one should pay tax on dying.
https://www.which.co.uk/money/tax/inheritance-tax/inheritance-tax-property-changes-aSr774L6FUfp
People with net worths more than this are likely to have tax efficient arrangements in place to limit their children’s liability.
If you want to avoid stamp duty, register a business in a tax haven, use that business to purchase the property and then rent the property from the company.
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Blue Maverick
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I hope they do, I just think taxing people all their lives and then at the end is disgusting, whether you have a £1 or a billion.Under current rules the threshold is effectively £1m.
https://www.which.co.uk/money/tax/inheritance-tax/inheritance-tax-property-changes-aSr774L6FUfp
People with net worths more than this are likely to have tax efficient arrangements in place to limit their children’s liability.
If you want to avoid stamp duty, register a business in a tax haven, use that business to purchase the property and then rent the property from the company.
Why do you need to steal people's efforts and rewards to fund the completely arbitrary political disaster project that is the nation state?Why is inherited wealth a good thing?
Money is earnt, tax is paid, things are bought with what remains, why is that still not enough? Is it the amount of tax paid that is the problem or is it the fault of the state and its mismanagement of the tax that has been paid?
BobKowalski
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- 17 May 2007
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- 20,077
Why do you need to steal people's efforts and rewards to fund the completely arbitrary political disaster project that is the nation state?
Money is earnt, tax is paid, things are bought with what remains, why is that still not enough? Is it the amount of tax paid that is the problem or is it the fault of the state and its mismanagement of the tax that has been paid?
It circulates money back into the system. Untaxed inherited wealth stagnates the system. If one person inherits a billion quid then it largely justs sits there doing nothing. If you taxed that at 50% and gave everyone a £100 Christmas tax rebate then that portion of the half billion would get circulated into the economy.
Furthermore, you are not ‘stealing’ it from the person who made the billion. You are taxing the people who get to inherit the billion for basically doing fuck all. And they still get half a billion.
In short, too much wealth concentrated in too few hands is bad economic practice. It is also the premise of every dystopian work of fiction.
Mr Kobayashi
Well-Known Member
Why do you need to steal people's efforts and rewards to fund the completely arbitrary political disaster project that is the nation state?
I wouldn't have thought Peter Thiel posted on here.
Mr Kobayashi
Well-Known Member
In short, too much wealth concentrated in too few hands is bad economic practice. It is also the premise of every dystopian work of fiction.
Pretty much. We are saving the rich and their children from themselves.
Rich, cosetted people invariably become entitled and lazy and waste whatever talents or intellect they possess. They become more insular, more inbred and less curious about the world outside their bubble.