Margaret Thatcher Tax Snatcher?

[seagullsovergrimsby]

A similar scenario will happen with Tony Blair and Inheritance Tax. Snouts in the trough.

 

[lighthouse]

Why?

I was brought up to believe that taxes are a way of providing public services and that everyone has a DUTY to contribute, in line with their ability to do so.

The article that you have chosen to reproduce relates to Inheritance Tax. This tax is effectively paid by the beneficiaries of an estate and makes absolutely no distinction about their ability to pay.

 

[seagullsovergrimsby]

The article that you have chosen to reproduce relates to Inheritance Tax. This tax is effectively paid by the beneficiaries of an estate and makes absolutely no distinction about their ability to pay.

They don't need an ability to pay , the tax should be deducted from the estate. They still keep 60%.

 

[Herr Tubthumper]

After his Jimmy Carr outburst I look forward to Cameron's public criticism of this.

 

[Lord Bracknell]

The article that you have chosen to reproduce relates to Inheritance Tax. This tax is effectively paid by the beneficiaries of an estate and makes absolutely no distinction about their ability to pay.

I know that. My brother and I paid inheritance tax on my widowed mother's estate (when the threshold was £275,000). She always took the view that we had no entitlement to the full value of her house. She had benefitted in life from public spending and it was only right that she should contribute in death. Beach Hut might have called her a happy old leftie.

Interestingly, when she sold her three bedroomed house in Cheshire to move into a small retirement flat, she was advised by her bank to put the surplus into an off-shore account in Guernsey. She did so, only to feel bad about it a couple of years later. The deposit was repatriated and she happily paid the tax due.

 

[Soulman]

It is okay for anyone to avoid tax provided they do it legally. Whether it be a humble cash ISA or more complex offshore scheme, they are there to be used because our tax laws allow it. We live in a democracy - if we think certain tax avoidance schemes are unpalatable then our political leaders need to change tax legislation.

If people enter arrangements that are not legal, then hit them with the full force of law

What a sensible post.

 

[El Presidente]

And I dont see what is wrong with avoiding paying as little as possible in tax. People are moaning yet again about maggie but dont moan when these benifit familys take british tax payers to the cleaners.

Exactly. We should be spending the money instead on education as so many of the indigenous population can't even spel proper like.

 

[Doc Lynam]

How's Mark going to finance another foreign coup in an oil rich country if mummy doesn't leave him something?

 

[BLOCK F]

Yawn!

 

[lighthouse]

They don't need an ability to pay , the tax should be deducted from the estate. They still keep 60%.

That is correct. The point is the way the tax is to make no distinction between a beneficiary who is penniless (before) or already a multi-millionaire. The difference between 60% and 100% will make a difference to the former.

 

[St Patricks Day]

How's Mark going to finance another foreign coup in an oil rich country if mummy doesn't leave him something?

What's your problem. Because he's in the public domain then he's game.. Everyone earns money by different means so why say that.

 

[St Patricks Day]

How's Mark going to finance another foreign coup in an oil rich country if mummy doesn't leave him something?

Tony Blair and George Bush went to war with Iraq because of oil but don't hear you banging on about that.

 

[Lord Bracknell]

What's your problem. Because he's in the public domain then he's game.. Everyone earns money by different means so why say that.

"Earns?" How exactly does running a loan shark company amount to "earning" money?

 

[glasfryn]

What's your problem. Because he's in the public domain then he's game.. Everyone earns money by different means so why say that.

I REALLY CANNOT BELIEVE YOU HAVE JUST WRITTEN THAT, are you because if you are not then there really is something wrong

 

[Napper]

Ding dong

 

[lighthouse]

I know that. My brother and I paid inheritance tax on my widowed mother's estate (when the threshold was £285,000). She always took the view that we had no entitlement to the full value of her house. She had benefitted in life from public spending and it was only right that she should contribute in death. Beach Hut might have called her a happy old leftie.

Interestingly, when she sold her three bedroomed house in Cheshire to move into a small retirement flat, she was advised by her bank to put the surplus into an off-shore account in Guernsey. She did so, only to feel bad about it a couple of years later. The deposit was repatriated and she happily paid the tax due.

A commendable attitude. The beneficiaries of such an estate may not always have the same viewpoint of course! It is not clear from your post whether it was suggested that placing cash on deposit in Guernsey would have avoided IHT. It wouldn't. IHT is payable on the value your worldwide assets if you domiciled here at the time of death.

 

[Thunder Bolt]

I wonder how many people buy products from Amazon which is based in Luxembourg thus avoiding paying UK vat?

 

[St Patricks Day]

"Earns?" How exactly does running a loan shark company amount to "earning" money?

Just like any other lone shark company that makes big money. The governent want to crack down on it but cant.

 

[St Patricks Day]

I wonder how many people buy products from Amazon which is based in Luxembourg thus avoiding paying UK vat?

Star Buck are allowed and many more but if you are Maggie then its a no no.

 

[seagullsovergrimsby]

What's your problem. Because he's in the public domain then he's game.. Everyone earns money by different means so why say that.

He received a 4 year SUSPENDED jail sentence for his involvement in the failed Equatorial Guinea military coup. The captured mercenaries were given 30+ year jail sentences. MI6 and the CIA knew about the coup attempt and agreed with its principle of reform change.