D Angelo Barksdale Posted June 23, 2022 Share Posted June 23, 2022 Enjoying the discourse. 2 Quote Link to comment Share on other sites More sharing options...
Left Back Posted June 23, 2022 Share Posted June 23, 2022 5 minutes ago, Bairnardo said: I was under the impression is was somewhere around half of that Think it’s actually more than that (350-375k). Property can also be exempt depending on who you’re leaving it to. Spouse, kid, charity. If you don’t use all your allowance when you die your spouse can also inherit the unused part of your allowance. 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted June 23, 2022 Share Posted June 23, 2022 (edited) 7 minutes ago, HK Hibee said: @virginton so what is your solution then? You seem to think that people working away, saving money and passing it on their kids (who then pay taxes on this)is an absolutely abhorrent activity given your response to my previous post. ok - that is a point of view but not one I share. I absolutely agree that there is a massive and growing wealth gap in this country but the people who take the time to post on P&B are unlikely to be the cause of it . what is your answer to the problem? A: We tax capital gains at 80% and inheritance at 90% and redistribute that by repairing the current nick of a social safety net. That'll sort out the massive and growing wealth gap quite handily over the short, medium and long-term, with people being expected to do well off the back of their own efforts. And the sprogs don't actually 'pay taxes' on it under the current system - that's one reason why state and society is such a hollowed-out mess. If there's enough money raised from wealth taxes to continue raising the income tax threshold then this should happen as well. Sensible policies for a stronger society. Edited June 23, 2022 by vikingTON -2 Quote Link to comment Share on other sites More sharing options...
Patrick Noubissie Posted June 23, 2022 Share Posted June 23, 2022 Accusing everyone else of showering undeserving people with free things is a pretty hilarious defence of the Tories at the moment. 1 Quote Link to comment Share on other sites More sharing options...
Scary Bear Posted June 23, 2022 Share Posted June 23, 2022 21 minutes ago, Left Back said: The old favourite. Let me guess. The state can borrow unlimited money so we should all be living in a paradise. If it was that easy how come no government has cottoned onto this before? If they put us in paradise surely they’d win every election until kingdom come? They have cottoned on to it. That how we kept the banks afloat, paid furlough for millions, paid for all the Covid testing, track and trace, vaccinations, etc. They have spunked a fortune and we are not in paradise. 0 Quote Link to comment Share on other sites More sharing options...
Scary Bear Posted June 23, 2022 Share Posted June 23, 2022 I just noticed, this is the Scotrail thread! 0 Quote Link to comment Share on other sites More sharing options...
Benjamin_Nevis Posted June 23, 2022 Share Posted June 23, 2022 What an appalling thing to say, it would appear that it’s you who is the horrible man. The government give people cars and houses for free, we pay “alcoholic allowances” to wastrels sitting in pubs and bookies all day, we struggle to get people to do certain jobs, because it’s more beneficial to be on benefits! Yet you chastise me! Pray tell, what would you do? And they are not my party, I don’t vote Conservative.The nick of this drivel [emoji23] 1 Quote Link to comment Share on other sites More sharing options...
Scary Bear Posted June 23, 2022 Share Posted June 23, 2022 31 minutes ago, virginton said: But by the specious logic of your argument, both tax and National Insurance are illegitimate claims on 'earned wealth' that you should be freely allowed to dispense too. Assuming that you're not a complete libertarian weirdo who objects to all taxation, it is therefore illogical for you to not just accept but take for granted the state lopping off 20-30% of your earned income before it even hits your bank account, but then throw your arms up at the injustice of the state taking a share of the completely unearned wealth being passed down to sprogs. Of all the taxes that a modern state can apply, inheritance tax is quite clearly the most justifiable by your own description of fairness. Fine, my estate can pay anything over the Inheritance threshold when I snuff it. Happy? Give it to the train drivers. They deserve it. 0 Quote Link to comment Share on other sites More sharing options...
Left Back Posted June 23, 2022 Share Posted June 23, 2022 7 minutes ago, Scary Bear said: They have cottoned on to it. That how we kept the banks afloat, paid furlough for millions, paid for all the Covid testing, track and trace, vaccinations, etc. They have spunked a fortune and we are not in paradise. They haven’t cottoned onto it at all. If it was that easy they’d carry on borrowing and give everyone everything they’ve ever dreamed of. Unfortunately the lenders might want some of it back at some point though. Selfish c***s. Must be Tories. I remember reading a while back that because interest rates/inflation was so low that now was the time to be borrowing unlimited trillions to fix every possible issue in society. That expert theory has clearly stood the test of time given the state of the debt repayments now. 0 Quote Link to comment Share on other sites More sharing options...
HK Hibee Posted June 23, 2022 Share Posted June 23, 2022 9 minutes ago, virginton said: And the sprogs don't actually 'pay taxes' on it under the current system - that's one reason why state and society is such a hollowed-out mess. Not sure I follow this. There is currently Inheritance Tax in place in UK so really sure what you mean - if I die I expect my kids will need to pay tax on what I leave them. How do the not pay taxes? personally I would focus more on closing loopholes for the folk who can afford to take advantage of those loopholes and raising corporate and income tax. Your answer is one solution but not for me. to get back on topic I had to go through to Glasgow today from Edinburgh and the train service was top notch. 0 Quote Link to comment Share on other sites More sharing options...
Left Back Posted June 23, 2022 Share Posted June 23, 2022 1 minute ago, HK Hibee said: Not sure I follow this. There is currently Inheritance Tax in place in UK so really sure what you mean - if I die I expect my kids will need to pay tax on what I leave them. How do the not pay taxes? personally I would focus more on closing loopholes for the folk who can afford to take advantage of those loopholes and raising corporate and income tax. Your answer is one solution but not for me. to get back on topic I had to go through to Glasgow today from Edinburgh and the train service was top notch. Your estate pays taxes. Not your kids. 1 Quote Link to comment Share on other sites More sharing options...
ICTChris Posted June 23, 2022 Share Posted June 23, 2022 5 minutes ago, Left Back said: Think it’s actually more than that (350-375k). Property can also be exempt depending on who you’re leaving it to. Spouse, kid, charity. If you don’t use all your allowance when you die your spouse can also inherit the unused part of your allowance. We have a friend who is currently living with and caring for their parent after moving in ten years ago and I’m not sure what happens when the parent passes away, which can’t be long. In that situation does someone have to pay inheritance tax to stay in the house where they’ve lived for many years? Tax advice on P&B. 0 Quote Link to comment Share on other sites More sharing options...
HK Hibee Posted June 23, 2022 Share Posted June 23, 2022 1 minute ago, Left Back said: Your estate pays taxes. Not your kids. Splitting hairs really. What is left after tax will go to my kids so same outcome. 0 Quote Link to comment Share on other sites More sharing options...
Popular Post Sherrif John Bunnell Posted June 23, 2022 Popular Post Share Posted June 23, 2022 How many pints a week do you need to neck before you can phone up the DWP and demand your "alcoholics allowance"? Asking for a friend. 21 Quote Link to comment Share on other sites More sharing options...
HeartsOfficialMoaner Posted June 23, 2022 Share Posted June 23, 2022 1 minute ago, Sherrif John Bunnell said: How many pints a week do you need to neck before you can phone up the DWP and demand your "alcoholics allowance"? Asking for a friend. 6 0 Quote Link to comment Share on other sites More sharing options...
Left Back Posted June 23, 2022 Share Posted June 23, 2022 5 minutes ago, ICTChris said: We have a friend who is currently living with and caring for their parent after moving in ten years ago and I’m not sure what happens when the parent passes away, which can’t be long. In that situation does someone have to pay inheritance tax to stay in the house where they’ve lived for many years? Tax advice on P&B. Depends how much the house and other assets are worth. Rough guide is <£500k estate is tax free. https://www.gov.uk/inheritance-tax 0 Quote Link to comment Share on other sites More sharing options...
HK Hibee Posted June 23, 2022 Share Posted June 23, 2022 The issue seems to be what is the level of tax we should pay. I think we probably pay too little collectively in this country but what @virgintonproposed is too much. This is a reasonable debate with no right answers tbh there is probably a right answer economically ( ie maximising the tax take) and a different answer politically ( ie what do people want to pay and receive from the government). Part of the problem is that politics is so populist/divisive that we dont really have that debate. Also as a complete aside I sat down on the train earlier with a table to myself and as we pulled out of Waverley a bloke with an Alsatian sat at the table across the aisle - the dog spent most of the journey on the table slavering and eyeing me up. Thumbs down to Scotrail 0 Quote Link to comment Share on other sites More sharing options...
Sherrif John Bunnell Posted June 23, 2022 Share Posted June 23, 2022 5 minutes ago, HeartsOfficialMoaner said: 6 Yasss!! I'll pass on this information to my friend. 0 Quote Link to comment Share on other sites More sharing options...
Left Back Posted June 23, 2022 Share Posted June 23, 2022 6 minutes ago, HeartsOfficialMoaner said: 6 Shit. Can it be backdated? 0 Quote Link to comment Share on other sites More sharing options...
HeartsOfficialMoaner Posted June 23, 2022 Share Posted June 23, 2022 Just now, Sherrif John Bunnell said: Yasss!! I'll pass on this information to my friend. Pints of whisky. 0 Quote Link to comment Share on other sites More sharing options...
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