Jail the tax dodging plebs.

Sambostar

Outrageous.

https://uk.finance.yahoo.com/news/woman-jailed-trying-dodge-500-164606991.html

Drew_TNBD

Fuck Da Hackney Marsh Rape Crew.

Sambostar

This ones for you Drew

https://uk.news.yahoo.com/arrest-ordered-woman-fled-son-over-circumcision-182927805.html#tw5P8zd

Sambostar

Drew_fx said:

Fuck Da Hackney Marsh Rape Crew.

You said that back in November 2013...are you going prematurely senile?

Oh I see, it is an impolite reference to HMRC.

Ahh, I see HMRC....oh yeah

Hertz32

I dont have much sympathy for the woman but I do think 40pc is quite high for inheritance tax. Cap it, or lower it. Cos its massively unfair that the government charges you 40% of your estate just for dying. (Provided its over the min amount obviously.)
I think the gvnment have just looked at it and said that seeing as its not your money, you should be grateful for what you get, so what they charge is irrelevant given that they dont think you are entitled to it anyway. And of course the deceased dont mind, cos they arent around to complain...

Sambostar

But you think it is just, given that MP's councillors, judges and the like all put their stash, far, far more than this, in Trust Finds or offshore company holdings and that is completely legal?

Basically she is being jailed for two years on the basis on a technicality.

Babones

Amazing how they want to tax money that has already been taxed. 40% is crazy too, especially as they only go and piss it away. Also, shouldn't all of parliament be locked up too then?

Sambostar

Thing is it's win, win for the treasury and the government and the financial sector it so dearly loves.  Property booms, you pay for the valuation, whilst renting your own place, estate agent values property at a ludicrous sum, you can no way afford 40% so are forced to sell a tiny house that may have been in the family for three generations. Tax man gets his. Government get theirs Investors get theirs. Banks get theirs.  You are left with fuck all as houses keep rising and no way will 60% buy you anything and when you die that 60% is taxed AGAIN.

It's another Enclosure Act.  A thatcherite scam to disempower the masses and enslave the pleb.  that is all there is too it.  The rich who they sell the legislation as getting at get off tax free.

Maybe, just maybe of you are lucky, you use the 60% to get a mortgage on another over priced brick box that is taxed when you die at 40%.

Fretwired

Sambostar said:

Outrageous.

https://uk.finance.yahoo.com/news/woman-jailed-trying-dodge-500-164606991.htm

What's outrageous is that we are taxed so much .. petrol, booze, buying a house and inheriting wealth on which tax has already been paid. Professional politicians lining their own pockets at our expense and then wasting our tax money ... that's what's outrageous.

jellyroll

@sambostar: Except that death duties were introduced about 200 years before Mrs Thatcher. And there is no capital gains tax on death.

Fretwired

jellyroll said:

@sambostar: Except that death duties were introduced about 200 years before Mrs Thatcher. And there is no capital gains tax on death.

Inheritance Tax was introduced in 1986 and replaced Capital Transfer Tax. The aim was to tax the wealthy. Property prices have increased and IT bands haven't been adjusted. The Tories improved the situation slightly but Labour want higher taxes plus the Mansion Tax. It won't be worth owning property at this rate.

Bogwhoppit

Fretwired said:

 It won't be worth owning property at this rate.

I don't know, the homeless would appreciate a place to live.

 

IanSavage

£1.5 million would be judged as quite a large inheritance by most. Just sayin'.

fretmeister

IanSavage said:

£1.5 million would be judged as quite a large inheritance by most. Just sayin'.

Certainly is.

But the money has already been taxed once. Shouldn't be taxed twice.

Fretwired

fretmeister said:

IanSavage said:

£1.5 million would be judged as quite a large inheritance by most. Just sayin'.

Certainly is.

But the money has already been taxed once. Shouldn't be taxed twice.

Exactly.

In a recent case a son who had lived with his mother for 30 years was forced to sell the family home to pay the Inheritance Tax bill thus making him homeless as he couldn't afford to buy a house in the area in which he lived with what was left. Daft.

jellyroll

Fretwired said:

jellyroll said:

@sambostar: Except that death duties were introduced about 200 years before Mrs Thatcher. And there is no capital gains tax on death.

Inheritance Tax was introduced in 1986 and replaced Capital Transfer Tax. 

Wikipedia tells me that inheritances have been taxed in the UK since 1796.  Estate Duty was introduced in 1914 and that was replaced by capital transfer tax in 1975. There has also been 13 years of Labour government since Thatcher. So laying it all at Thatcher's door seems a little unbalanced. 

jellyroll

Fretwired said:

fretmeister said:

IanSavage said:

£1.5 million would be judged as quite a large inheritance by most. Just sayin'.

Certainly is.

But the money has already been taxed once. Shouldn't be taxed twice.

Exactly.

In a recent case a son who had lived with his mother for 30 years was forced to sell the family home to pay the Inheritance Tax bill thus making him homeless as he couldn't afford to buy a house in the area in which he lived with what was left. Daft.

The alternative would be to scrap IHT .....but then the transfer of the house to the son would be hit by capital gains tax....so the answer would be broadly the same. 

Fretwired

jellyroll said:

Fretwired said:

fretmeister said:

IanSavage said:

£1.5 million would be judged as quite a large inheritance by most. Just sayin'.

Certainly is.

But the money has already been taxed once. Shouldn't be taxed twice.

Exactly.

In a recent case a son who had lived with his mother for 30 years was forced to sell the family home to pay the Inheritance Tax bill thus making him homeless as he couldn't afford to buy a house in the area in which he lived with what was left. Daft.

The alternative would be to scrap IHT .....but then the transfer of the house to the son would be hit by capital gains tax....so the answer would be broadly the same. 

Or not tax family homes that people actually live in. Tax second homes and property sales, but don't force family members to sell their home to pay tax.

jellyroll

Fretwired said:

jellyroll said:

Fretwired said:

fretmeister said:

IanSavage said:

£1.5 million would be judged as quite a large inheritance by most. Just sayin'.

Certainly is.

But the money has already been taxed once. Shouldn't be taxed twice.

Exactly.

In a recent case a son who had lived with his mother for 30 years was forced to sell the family home to pay the Inheritance Tax bill thus making him homeless as he couldn't afford to buy a house in the area in which he lived with what was left. Daft.

The alternative would be to scrap IHT .....but then the transfer of the house to the son would be hit by capital gains tax....so the answer would be broadly the same. 

Or not tax family homes that people actually live in. Tax second homes and property sales, but don't force family members to sell their home to pay tax.

We accept the principle of taxing income - that people have actually WORKED for. Why not tax windfalls - for which the recipient has done sweet FA? 

Snap

I think inheritance tax is wrong, but if it must exist, the threshold is too low, way too low. I'd remove it full stop. By the time we die, there will be a lot of kids who's only hope of owning a house will be to inherit the one from their parents.

Same with capilta gains on gifts. I think its' 11k threshold, the amount you can receive as a gift without it being taxed at 18% (or 28). THing is, if I have that sum to give to someone, and I've paid the tax on it, job done. I can understand why the mechanism exist, but again, don't think it's right.

Funny, my wife and I are doing a will at the moment, so all this is relevant. Its quite grim, but strangely assuring.

Drew_TNBD

jellyroll said:

Fretwired said:

jellyroll said:

Fretwired said:

fretmeister said:

IanSavage said:

£1.5 million would be judged as quite a large inheritance by most. Just sayin'.

Certainly is.

But the money has already been taxed once. Shouldn't be taxed twice.

Exactly.

In a recent case a son who had lived with his mother for 30 years was forced to sell the family home to pay the Inheritance Tax bill thus making him homeless as he couldn't afford to buy a house in the area in which he lived with what was left. Daft.

The alternative would be to scrap IHT .....but then the transfer of the house to the son would be hit by capital gains tax....so the answer would be broadly the same. 

Or not tax family homes that people actually live in. Tax second homes and property sales, but don't force family members to sell their home to pay tax.

We accept the principle of taxing income - that people have actually WORKED for. Why not tax windfalls - for which the recipient has done sweet FA? 

Alright, calm your tits Miss Trotsky.