The Labour Government

[blueish swede]

Yeah of course, get all that. I mentioned Mansion Tax is the same post, which was perhaps confusing.

But back to IHT, for me it's a matter of principle. You either think it is morally right for the state to take money off people when they die, depriving their airs of money that their parents presumably wanted them to have, or you don't. I am in the latter camp. You live your life and pay your taxes, and that should be the end of it IMO. I don't think it's right that when you die the state should say great we can now have even more of that money you've accumulated. Even worse, to change the rules on people AFTER they have made all of their life choices. The holidays they didn't take, the car they didn't buy, the house move they didn't do, so they can give money to their kids and give them a leg up in life. Only to find that Rachel Thieves says thanks very much, glad you've accumulated that cash, we'll have some more of that (laughing as she does it).

So I am not in favour of their being any IHT at all, let alone a reduction in the tax exempt limits.

Are you also against VAT?

 

[I'm With Stupid]

Nope neither, I would start off by taxing big business at a % level above what SMEs are paying. The very biggest businesses don't pay tax at all in this country and can certainly afford it. Then I would look at non doms. Starmer and Reeves have a delicate balancing act to achieve tax wise next month. They need to encourage growth first and foremost otherwise the overall tax revenue won't grow, so taxing SMEs isn't the best choice. None of this is helped by the cost of borrowing being the highest its been for well over a decade, and sectors of the economy still in recession. From what little I've seen I like Reeves, she is clearly a clever cookie and Labour certainly deserve their chance, so we shall have to see.

But let's be honest, if the large corporations aren't paying any of the tax they're currently supposed to be paying, then increasing the tax rate isn't going to achieve anything. They'll just not be paying a higher rate of tax. What really needs to happen with multinational corporations is a new system where they actually get taxed on immovable assets rather than profits. Starbucks want to run all of their profits through some giant Swiss tax swizz, fine. Tax every one of their coffee shops instead. VAT for Starbucks at 40% instead of 20%. Tax multinational corporations like alcohol, based on the harm they do to the economy.

 

[Churchlawtonblue]

But let's be honest, if the large corporations aren't paying any of the tax they're currently supposed to be paying, then increasing the tax rate isn't going to achieve anything. They'll just not be paying a higher rate of tax. What really needs to happen with multinational corporation is a new system where they actually get taxed on immovable assets rather than profits. Starbucks want to run all of their profits through some giant Swiss tax swizz, fine. Tax every one of their coffee shops instead. VAT for Starbucks at 40% instead of 20%. Tax multinational corporations like alcohol, based on the harm they do to the economy.

100%, that's what I meant. The tax system needs to be changed. These companies just exploit the UK and numerous other countries. The power and influence they have is shocking.

 

[maxwellblue]

And what happened? Did you pay someone take away all your old shoes or did you get any money for them? Sounds like you were aggrieved that a charity didn't want to allocate money, time and resources on stock that was of minimal value and save you paying clearance costs.



You sound like a nice bloke, is there a pub corner you spend your evenings in?

The whole point was that the charities get items that could be sent to third world countries that I believe would welcome things like that. Yes I would have got them cleared from the building but at the time I would rather someone would benefit from them. The disposal cost was minimal so it didn't really come into the equation as we were clearing a lot of other stuff out anyway and no I didn't get anything for them.

I don't really go to pubs these days only wine bars.

 

[maxwellblue]

By the time you've told that story a few more times, the shoes will have been all clean and boxed up neatly, and the reps will be arriving by helicopter ;)

So you think I'm exaggerating then ? you keep giving your hard earned away if that keeps you happy.

 

[I'm With Stupid]

The whole point was that the charities get items that could be sent to third world countries that I believe would welcome things like that. Yes I would have got them cleared from the building but at the time I would rather someone would benefit from them. The disposal cost was minimal so it didn't really come into the equation as we were clearing a lot of other stuff out anyway and no I didn't get anything for them.

I don't really go to pubs these days only wine bars.

Honestly, the third world is absolutely swamped with all of our old clothes nowadays. The days where your old clothes would be welcomed by the needy are long gone. I saw a bloke from a tribe in the jungles of Malaysia wearing a 2020 Liverpool shirt ffs.

And then there's the infamous Fifty Shades of Grey fort in Oxfam built from all of the donated copies.

 

[bluenova]

So you think I'm exaggerating then ? you keep giving your hard earned away if that keeps you happy.

I do think you're exaggerating. I've worked with hundreds of different charities, over a number of decades, and knowing what kind of salaries those kind of jobs pay, the thought of them all turning up in new Mercs and BMWs makes me smile.

I can, however, imagine them turning down the opportunity to clear out your warehouse.

 

[maxwellblue]

Honestly, the third world is absolutely swamped with all of our old clothes nowadays. The days where your old clothes would be welcomed by the needy are long gone. I saw a bloke from a tribe in the jungles of Malaysia wearing a 2020 Liverpool shirt ffs.

It was back in 2001. And fine if they didn't want them it was no skin of my nose, I thought I was doing a good thing at the time. What I found annoying was the cars they came in weren't your standard rep mobiles and all they were after really was money.

 

[maxwellblue]

I do think you're exaggerating. I've worked with hundreds of different charities, over a number of decades, and the thought of them all turning up in new Mercs and BMWs makes me smile.

I can, however, imagine them turning down the opportunity to clear out your warehouse.

Up to you but I was there and the guy from the Red Cross turned up in a new BM and the bloke from Oxfam in a Merc.

4 Old dears turned up from Age Concern who proceeded to spend a couple of hrs trying on shoes and filled the car up they came in with shoes for themselves, but good luck to them. That did make me chuckle.

Yeah, god forbid they had to put a bit of effort in.

 

[BlueAnorak]

What the fastest growth rate in the G7 not sure if he mentioned it to be fair.

Don't worry it won't last long with Rachel Thieves prepararing to pebbledash businesses and investment funds with additional tax and regulations.