Florentine_Pogen Posted April 23 Share Posted April 23 53 minutes ago, coprolite said: So you're saying that we need to do better with inheritance tax. Lower threshholds, residence basis, increased progressive rates and start culling elderly aristocrats? I agree, well done. That could be a real vote winner. How about starting with King Jugears 1/3 rd and Queen Horseface ? 0 Quote Link to comment Share on other sites More sharing options...
Shadow Play Posted April 23 Share Posted April 23 31 minutes ago, coprolite said: I can read between the lines. Are you suggesting that the state should expropriate 30% of the value of all owned property to pay down the debt? Radical, bit worth considering. I’m merely giving stats. It’s many, many years since I studied economics so I wouldn’t presume to know a feasible way to try to balance the books. If truth be told I’m not convinced top economists do either. 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted April 24 Share Posted April 24 On 23/04/2024 at 09:38, Shadow Play said: Figures out today show that £7.5 billion was raised from inheritance tax last financial year. To give some sort of context in the same period benefits payments increased £39.6 billion to £291.4 billion and the Treasury borrowed £120.7 billion. There were no figures in the report detailing current government debt but last figures I saw stated it is north of £2.5 trillion. If the government goes into administration and offers 6p in the £ then this would bring the amount owed down to £150 billion. That’s a far more manageable sum. 0 Quote Link to comment Share on other sites More sharing options...
strichener Posted April 24 Share Posted April 24 (edited) On 24/04/2024 at 12:21, Granny Danger said: If the government goes into administration and offers 6p in the £ then this would bring the amount owed down to £150 billion. That’s a far more manageable sum. Or alternatively they could go into admin, then propose a CVA with 0% return. I think it's commonly known as a "Dunfermline". Edited April 26 by strichener 0 Quote Link to comment Share on other sites More sharing options...
ICTChris Posted May 31 Author Share Posted May 31 https://www.bbc.co.uk/news/articles/cerr4nlkwvdo ANy P&Bers own mother stolen tens of thousands of pounds from them? 0 Quote Link to comment Share on other sites More sharing options...
carpetmonster Posted May 31 Share Posted May 31 (edited) 1 hour ago, ICTChris said: https://www.bbc.co.uk/news/articles/cerr4nlkwvdo ANy P&Bers own mother stolen tens of thousands of pounds from them? My dad used to let me and my brother pick a horse for the National and stick a pound on it for us. I managed to pick West Tip, which I remember winning, and have just found out that was in 1986, at a starting price of 15/2. Never saw any of the money, so with inflation that seven and a half quid might be nearing 50 grand. ETA - it's £27.54. Still, principle of the thing. Edited May 31 by carpetmonster 3 Quote Link to comment Share on other sites More sharing options...
tinkerbelle Posted May 31 Share Posted May 31 4 hours ago, ICTChris said: https://www.bbc.co.uk/news/articles/cerr4nlkwvdo ANy P&Bers own mother stolen tens of thousands of pounds from them? Mine!! popped her clogs and her will stated that the 4 of us kids would inherit the house and all the money and investments that she had. But she had added extra stipulations… The 2 girls would get 10 grand extra each because us 2 boys would get the family business. It turned out that she had taken out an undisclosed loan against the business of 20 grand that us 2 boys ended up liable for. The girls blanked the debt completely.. It really is true that money does change people. 2 Quote Link to comment Share on other sites More sharing options...
HeartsOfficialMoaner Posted June 1 Share Posted June 1 5 hours ago, tinkerbelle said: Mine!! popped her clogs and her will stated that the 4 of us kids would inherit the house and all the money and investments that she had. But she had added extra stipulations… The 2 girls would get 10 grand extra each because us 2 boys would get the family business. It turned out that she had taken out an undisclosed loan against the business of 20 grand that us 2 boys ended up liable for. The girls blanked the debt completely.. It really is true that money does change people. She took £20,000 out the business to give that to your sisters. So, that is them getting their share of the business? You and your brother get to keep the family business? 0 Quote Link to comment Share on other sites More sharing options...
tinkerbelle Posted June 1 Share Posted June 1 We were fine with the girls getting extra as that was only fair. It had long been agreed. I don’t think working on roofs would have suited them anyway. She spent the loan money on mail order shite off the television, she was probably on the Christmas card list from QVC. 1 Quote Link to comment Share on other sites More sharing options...
BFTD Posted June 1 Share Posted June 1 14 hours ago, ICTChris said: https://www.bbc.co.uk/news/articles/cerr4nlkwvdo ANy P&Bers own mother stolen tens of thousands of pounds from them? It's really not difficult to find people with stories about grandparents leaving them money in their will, only for them to reach adulthood and find out that their parents had spent it all. For a worrying number of folk, morals are a thing you have when there's a chance of punishment. 1 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted June 1 Share Posted June 1 2 hours ago, tinkerbelle said: We were fine with the girls getting extra as that was only fair. It had long been agreed. I don’t think working on roofs would have suited them anyway. She spent the loan money on mail order shite off the television, she was probably on the Christmas card list from QVC. I agree. It might be sexist but I think being a cat burglar is definitely a guys game. 1 Quote Link to comment Share on other sites More sharing options...
BFTD Posted June 1 Share Posted June 1 9 hours ago, Granny Danger said: I agree. It might be sexist but I think being a cat burglar is definitely a guys game. 0 Quote Link to comment Share on other sites More sharing options...
Shadow Play Posted June 22 Share Posted June 22 Interesting article in today’s Financial Times discussing the Shadow Chancellor's proposal to no longer allow the assets of non-doms held in offshore trusts to be excluded from inheritance tax. It would appear a number of non-doms are already in the process of moving residency to Switzerland, Dubai and Abu Dhabi. Security also appears to be a significant factor for the moves. 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted June 22 Share Posted June 22 24 minutes ago, Shadow Play said: Interesting article in today’s Financial Times discussing the Shadow Chancellor's proposal to no longer allow the assets of non-doms held in offshore trusts to be excluded from inheritance tax. It would appear a number of non-doms are already in the process of moving residency to Switzerland, Dubai and Abu Dhabi. Security also appears to be a significant factor for the moves. It's almost as if the Tories are going to lose an election in a landslide and the City wants to scare off reform of the massive loopholes that they have enjoyed. 0 Quote Link to comment Share on other sites More sharing options...
Shadow Play Posted June 22 Share Posted June 22 (edited) 19 minutes ago, virginton said: It's almost as if the Tories are going to lose an election in a landslide and the City wants to scare off reform of the massive loopholes that they have enjoyed. Given the way tax returns work it will not be known for some time how many non-doms will actually relocate. The latest figures, from 2022, indicate there were approximately 66,000 people claiming non-dom status in the UK. Edited June 22 by Shadow Play 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted June 22 Share Posted June 22 And your point is... what, exactly? 0 Quote Link to comment Share on other sites More sharing options...
Soapy FFC Posted June 22 Share Posted June 22 2 hours ago, Shadow Play said: Interesting article in today’s Financial Times discussing the Shadow Chancellor's proposal to no longer allow the assets of non-doms held in offshore trusts to be excluded from inheritance tax. It would appear a number of non-doms are already in the process of moving residency to Switzerland, Dubai and Abu Dhabi. Security also appears to be a significant factor for the moves. Switzerland maybe isn't the best place for the rich to head to anymore https://www.theguardian.com/world/article/2024/jun/21/british-billionaire-hindujas-sentenced-to-jail-in-swiss-exploitation-case 0 Quote Link to comment Share on other sites More sharing options...
Shadow Play Posted June 22 Share Posted June 22 1 hour ago, virginton said: And your point is... what, exactly? I’m not sure if you are asking me what my point is as you did not reply to me directly, however, given your post is immediately after my post I will presume you are. Apologies if your question was not directed at me. I’m simply contributing to the discussion of inheritance tax in the context of non-dom status having read about it in today’s FT. It will be interesting to see how much extra revenue is eventually raised as a result of this versus the amount of money that will no longer be spent / invested in the UK if a large number of non-doms leave the country. I’m not making any point with regards to fairness or otherwise of the tax system. Like I said, just adding to the discussion in case some posters on here did not read today’s Financial Times article. 0 Quote Link to comment Share on other sites More sharing options...
Shadow Play Posted June 22 Share Posted June 22 3 minutes ago, Soapy FFC said: Switzerland maybe isn't the best place for the rich to head to anymore https://www.theguardian.com/world/article/2024/jun/21/british-billionaire-hindujas-sentenced-to-jail-in-swiss-exploitation-case Yeh, I briefly read about that elsewhere. Setting aside any legal and moral failings just how greedy do you have to be to treat people like that? 1 Quote Link to comment Share on other sites More sharing options...
hk blues Posted June 22 Share Posted June 22 3 minutes ago, Shadow Play said: Yeh, I briefly read about that elsewhere. Setting aside any legal and moral failings just how greedy do you have to be to treat people like that? I read bits and pieces of the case and comments from the accused. The wife said she didn't consider staff were working when they were looking after the kids whilst they watched movie - that one statement alone paints a clear picture of what kind of people they are and their thought process. Happy to see them getting jail time. I just hope they actually serve as least some of it and don't find a way out using their vast wealth. 3 Quote Link to comment Share on other sites More sharing options...
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