9.9bn Quid, 0% tax. Tell me PH, How is this fair?
Discussion
sidicks said:
zygalski said:
How is a vast amount of equity built-up on a property over several decades previously taxed income?
Where do you think the money came from to buy the property in the first place?The 'equity' doesn't take inflation into account either.
Hosenbugler said:
Socialists are obsessed with other peoples money, so yes, many of those who rant about inheritance tax will indeed be so , others will just be jealous , envious, be what it may.
Or maybe some s
t have a different point of view from you? I am none of the things you mention and in favour of high levels of IHT. The ad hominum arguments don't do you want favours. You look foolish
zygalski said:
Hosenbugler said:
Socialists are obsessed with other peoples money, so yes, many of those who rant about inheritance tax will indeed be so , others will just be jealous , envious, be what it may.
Tory governments like taxation too you know. 
BJG1 said:
Hosenbugler said:
Socialists are obsessed with other peoples money, so yes, many of those who rant about inheritance tax will indeed be so , others will just be jealous , envious, be what it may.
Or maybe some st have a different point of view from you? I am none of the things you mention and in favour of high levels of IHT. The ad hominum arguments don't do you want favours. You look foolish
zygalski said:
Perhaps you know better than me, but I don't remember paying out tax on the £170,000 equity in 16 years on my last property. The mortgage when I sold at it's height was a shade over £600 per month
What was inflation over the period?How much interest did you pay over the period?
zygalski said:
How is a vast amount of equity built-up on a property over several decades previously taxed income?
Your view is tainted by the property market of recent decades. The future is not going to be one of vast unearned untaxed equity. I bought a house last year, accounting for mortgage interest and inflation I will likely not make anything on it.PurpleMoonlight said:
I'm struggling to see why the Government should have a second dip at your wealth simply because you have died.
Take someone that has never purchased a property and simply saved every penny they could as cash in the bank (or wherever). They have £500,000 in the bank on death.
They have paid income tax on their earnings over the years.
They have paid income tax on any interest they have received from the bank.
Why should the Government get an additional tax of 40% x £175,000 on death?
Because they need tax income to pay for stuff we all need. Take someone that has never purchased a property and simply saved every penny they could as cash in the bank (or wherever). They have £500,000 in the bank on death.
They have paid income tax on their earnings over the years.
They have paid income tax on any interest they have received from the bank.
Why should the Government get an additional tax of 40% x £175,000 on death?
HTH.
Hosenbugler said:
I do not like scumbags stealing my hard earned , money I wish to leave to My kids and grandkids. You are none of the things I mention? I'm laughing at that. Perhaps you would like to tell us why it is any of your business to know what other people have?
Speak to your accountant in plenty of time then instead of bleating about socialists and reds under the bed nonsense.It makes you sound like a selfish t
t who I have a sneaking suspicion begrudges paying any tax at all.Hosenbugler said:
I do not like scumbags stealing my hard earned , money I wish to leave to My kids and grandkids. You are none of the things I mention? I'm laughing at that. Perhaps you would like to tell us why it is any of your business to know what other people have?
I'm not a socialist, I'm a free-market capitalist and classical liberal 
I'm likely to both inherit and leave estates on which swignificant amounts of IHT are due, so I don't think I'd consider myself envious or jealous either. I've done plenty well enough for myself to not cast envious eyes at the wealth of others.
I don't think it's my business to know what others have and I've not said anything to that effect in this thread. I've simply supported the idea of returning assets to the market from which they were purchased on death and ensuring we don't entrench wealth, leading to inefficient use of assets.
There's no need to be so aggressive and angry, as I said, I just have a different opinion to you on how to create the fairest society. No need to get so worked up by it and continue to attack individuals rather than make any sort of coherent argument in favour of your position.
BJG1 said:
I'm not a socialist, I'm a free-market capitalist and classical liberal
I'm likely to both inherit and leave estates on which swignificant amounts of IHT are due, so I don't think I'd consider myself envious or jealous either. I've done plenty well enough for myself to not cast envious eyes at the wealth of others.
I don't think it's my business to know what others have and I've not said anything to that effect in this thread. I've simply supported the idea of returning assets to the market from which they were purchased on death and ensuring we don't entrench wealth, leading to inefficient use of assets.
There's no need to be so aggressive and angry, as I said, I just have a different opinion to you on how to create the fairest society. No need to get so worked up by it and continue to attack individuals rather than make any sort of coherent argument in favour of your position.
Giving more money to the government is hardly 'making efficient use of assets'...!I'm likely to both inherit and leave estates on which swignificant amounts of IHT are due, so I don't think I'd consider myself envious or jealous either. I've done plenty well enough for myself to not cast envious eyes at the wealth of others.
I don't think it's my business to know what others have and I've not said anything to that effect in this thread. I've simply supported the idea of returning assets to the market from which they were purchased on death and ensuring we don't entrench wealth, leading to inefficient use of assets.
There's no need to be so aggressive and angry, as I said, I just have a different opinion to you on how to create the fairest society. No need to get so worked up by it and continue to attack individuals rather than make any sort of coherent argument in favour of your position.
Edited by sidicks on Sunday 21st August 15:52
BigMon said:
Hosenbugler said:
I do not like scumbags stealing my hard earned , money I wish to leave to My kids and grandkids. You are none of the things I mention? I'm laughing at that. Perhaps you would like to tell us why it is any of your business to know what other people have?
Speak to your accountant in plenty of time then instead of bleating about socialists and reds under the bed nonsense.It makes you sound like a selfish t
t who I have a sneaking suspicion begrudges paying any tax at all.Incidentally , I'm very generous to those I want to be generous to,entitlement bleaters and lazy losers can go swivel.
sidicks said:
given more money to the government is hardly 'making efficient use of assets'...!
This thread is about a vast estate being handed down to a young man who's done nothing to prove he's capable or deserving of owning them. Their transfer to someone who can afford them as a result of their own hard work is more likely to lead to more efficient use than not.I agree the Government is inefficient with money and if you've read my posts in this thread I'm suprised you've drawn the conclusion I'm perfectly happy with IHT working exactly as it does currently. I'm merely defending the principle of some form of redistribution on death.
BJG1 said:
Hosenbugler said:
I do not like scumbags stealing my hard earned , money I wish to leave to My kids and grandkids. You are none of the things I mention? I'm laughing at that. Perhaps you would like to tell us why it is any of your business to know what other people have?
I'm not a socialist, I'm a free-market capitalist and classical liberal I'm likely to both inherit and leave estates on which swignificant amounts of IHT are due, so I don't think I'd consider myself envious or jealous either. I've done plenty well enough for myself to not cast envious eyes at the wealth of others.
I don't think it's my business to know what others have and I've not said anything to that effect in this thread. I've simply supported the idea of returning assets to the market from which they were purchased on death and ensuring we don't entrench wealth, leading to inefficient use of assets.
There's no need to be so aggressive and angry, as I said, I just have a different opinion to you on how to create the fairest society. No need to get so worked up by it and continue to attack individuals rather than make any sort of coherent argument in favour of your position.
Hosenbugler said:
Would you be aggressive and angry with a bloke burgling your house? Burglars steal when others (Hopefully for them) are not ;looking, burgling and inheritance tax are of the same ilk. So, yes, anyone who wishes to steal from me and mine when I'm incapacitated is just that, a burglar.
Incapacitated is a funny way of describing 'dead'.I'm not burgling you, I'm expressing a different political position to you on the ownership of assets in transistion. Get a grip of yourself.
There are some real whingers here.
If you want to 'avoid' IHT being due on the inheritance your beneficiaries will receive on your death, then start gifting it away NOW, before you're dead.
That is the simplest and easiest initial action.
If that isn't enough for some, then invest a bit and get some financial advice in order to avoid as much as you reasonably can do.
The only way the majority of 'normal' people should be exposed to *significant* IHT is if they're purposefully being ignorant or stupid, or both.
If you want to 'avoid' IHT being due on the inheritance your beneficiaries will receive on your death, then start gifting it away NOW, before you're dead.
That is the simplest and easiest initial action.
If that isn't enough for some, then invest a bit and get some financial advice in order to avoid as much as you reasonably can do.
The only way the majority of 'normal' people should be exposed to *significant* IHT is if they're purposefully being ignorant or stupid, or both.
BJG1 said:
Hosenbugler said:
Would you be aggressive and angry with a bloke burgling your house? Burglars steal when others (Hopefully for them) are not ;looking, burgling and inheritance tax are of the same ilk. So, yes, anyone who wishes to steal from me and mine when I'm incapacitated is just that, a burglar.
Incapacitated is a funny way of describing 'dead'.I'm not burgling you, I'm expressing a different political position to you on the ownership of assets in situ. Get a grip of yourself.
Incidentally, death is the most extreme form of incapacitation and from what I gather , permanent.
Hosenbugler said:
I'm not interested in any self righteous "political position" , you support stealing from my kids , stealing money and assets I worked my back off for . So yes, I will be angry, seriously so, as said , you and your ilk are on par with burglars.
Incidentally, death is the most extreme form of incapacitation and from what I gather , permanent.
I wouldn't worry. You're clearly not intelligent enough to leave much other than a lifetime of disapointment to your kids.Incidentally, death is the most extreme form of incapacitation and from what I gather , permanent.
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