winjim
Welcome yourself into the new modern crisis
Naked came I out of my mother's womb, and naked shall I return thither: the Lord gave, and the Lord hath taken away; blessed be the name of the Lord.
Inheritance Tax
- Thread starter icowden
- Start date
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Naked came I out of my mother's womb, and naked shall I return thither: the Lord gave, and the Lord hath taken away; blessed be the name of the Lord.
D
Deleted member 121
Guest
Well that's a grim thought. Be that as it may, can i at least demand to wear some boxer shorts?
slowmotion
Active Member
Undertakers only allow "ECO- friendly" garments that cost a fortune from their catalogues. Sorry.
D
Deleted member 121
Guest
Unless they sell modified "eco-friendly" tea cosy's then they don't stand a chance...
newfhouse
pleb
Tax is rarely paid through choice. Even your VAT example doesn’t account for purchases that are effectively obligatory for most people.
Anyway, we’re talking about a £500,000 tax free allowance for most. If you think that’s unfair you might spend a few moments pondering your privilege.
Ian H
Legendary Member
You only pay inheritance tax when you inherit a substantial, unearned sum of money. You still end up considerably better-off than you were before. And arguments about the greater good still apply.
Mr Celine
Well-Known Member
And none of them have pockets.
slowmotion
Active Member
I'm still allowed to give my child a KitKat. No commissars have stopped me so far. Where's the threshold that triggers moral outrage......and why?
the snail
Active Member
Hardly qualifies as a tragedy - they presumably inherited over a million, which is a million more than a lot of people get. Is it any more "tragic" than someone on a modest income paying tax on the money they actually worked for?
Ian H
Legendary Member
You questioning my satirical competence?
I have a vested interest in this inasmuch as without inheriting a reasonable amount of money from my father I would be facing an very modest income in retirement, so I am hardly going to like the idea of the govt taking a substantial chunk of wealth that has been earned and put into bricks and mortar.
The German govt can also claim its share despite none of this money ever having been earned in the country.
Envy can be a real problem here.
That said I also understand the seeming injustice of a family living in the lap of luxury where the wealth wholly comes from their great grandfather who founded a company in the late Victorian era that prospered, and his son was the last person who could be said to be an entrepreneur in running it.
Whether taxation is an answer to this I don't know. I remember my dad getting a tax bill and remarking it was the the fourth time the money had been taxed. 'I wouldn't mind so much if they didn't waste so much of it'.
The German govt can also claim its share despite none of this money ever having been earned in the country.
Envy can be a real problem here.
That said I also understand the seeming injustice of a family living in the lap of luxury where the wealth wholly comes from their great grandfather who founded a company in the late Victorian era that prospered, and his son was the last person who could be said to be an entrepreneur in running it.
Whether taxation is an answer to this I don't know. I remember my dad getting a tax bill and remarking it was the the fourth time the money had been taxed. 'I wouldn't mind so much if they didn't waste so much of it'.
winjim
Welcome yourself into the new modern crisis
There is a very obvious connection between taxing wealth and ensuring that every member of society enjoys a comfortable retirement. Unfortunately like most things which I'm happy to pay tax for, it does require the government to be vaguely competent and only minimally corrupt.
A
albion
Guest
Levelling Up would mean the tax would be set at 100% with an aggressive avoidance intent fine system.
Unfortunately, the powers that be are not on the level.
Unfortunately, the powers that be are not on the level.
OP
OP
icowden
Squire
This was in around 1984ish. They didn't inherit that much money, just the house. Which was worth more than the inheritance tax threshold.
Zoopla says the house last sold in November 2020 for £550k. The current estimated price is £865k to £1.3m.
To be fair the owner who purchased it for £550k turned it from a 4 bed 3 reception detached house to a 9 bedroom B&B.
https://www.tripadvisor.co.uk/Hotel...ed_and_Breakfast-Widnes_Cheshire_England.html
winjim
Welcome yourself into the new modern crisis
Like a circle in a spiral.
