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Bullet 4:34 Sat Feb 20
EU Referendum 23rd June 2016 declares Cameron
BBC
Britain will vote on whether to remain in the EU on Thursday 23 June, Prime Minister David Cameron has said.
The prime minister made his historic announcement in Downing Street after briefing the cabinet.
He said he would be campaigning to remain in a reformed EU - and described the vote as one of the biggest decisions "in our lifetimes".
Ministers immediately divide

Replies - Newest Posts First (Show In Chronological Order)

Hammer and Pickle 7:34 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
North Bank 7:27 Mon Sep 23

Indeed and spot-on.

Buy-to-rent is nasty speculation and Air BnB is its crack version distorting property markets all over Europe.

Needs to be stamped out and with a tax if necessary.

Westside 7:33 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
The first £1m approx for married couples is exempt from IHT so they won't be worrying about it.

Only if the spousal home allowance is included. This allowance only applies if left to direct descendants, children ,grand children, not siblings, or nephews/nieces or friends.

And the above reliefs are not currently availble to unmarried, co habiting mixed sex couples.

BRANDED 7:33 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
Any asset that has INCREASED in value that hasn't been sold has had no tax paid upon it.

IHT is merely a transferal tax.

You bought assets for £500k you die and they are worth £2 million the tax is paid on the value after the relevant thresholds have been breached.

You sell them before you die you pay capital gains on them. You may also then be liable for IHT later.

Gavros 7:31 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron

North Bank 7:27 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
Surely the best way to free up housing stock is to hammer all of the landlords sitting on buy to lets, making it less profitable and less attractive to landlords to invest in multiple occupancies


Already done to a large extent with the abolition of mortgage interest relief and various other tightening of regulations.

Hoping that the squeeze on big, leveraged landlords might bring some good value properties onto the market in the next six months.

Mike Oxsaw 7:30 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
BRANDED 7:15 Mon Sep 23

And he generated taxes all the time he was creating that wealth. He owes the exchequer nothing in that respect.

Westside 7:28 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
Clearly if ones parents didn't own their own home then they were lazy work shy cunts?


Not at all, Block

I was trying to illustrate a large part of a person's estate (the increase in value of the home) won't have been subject to tax in a person's lifetime.

A lot of people argue against IHT, on the basis that wealth has been taxed once already. Clearly in the case of the increase in the value of property, it hasn't.

BRANDED 7:28 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
That assumes they have no other assets.

No one should be paying IHT assuming they have a brain.

North Bank 7:27 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
Surely the best way to free up housing stock is to hammer all of the landlords sitting on buy to lets, making it less profitable and less attractive to landlords to invest in multiple occupancies

, 7:26 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
You need to define what you mean by high inheritance tax. At the moment it kicks in at a reasonably high property value ( this is if you consider the UK as a whole and not just the proportionately rich South East ). In short the overwhelming majority of deceased’s estates do not qualify for IHT.

And if you take into account that partners can aggregate their estates liability when one dies it moves another chunk of people’s estates outside of the tax limit.

New Jersey 7:26 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
Comma - I thought that was if you gave your house to your kids to try and avoid it being sold to pay for any care home fees?

Another way would be for the parents to take life time mortgages on it, preferably not the ones where the interest is rolled on, as they could end up being expensive.

J.Riddle 7:24 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
The first £1m approx for married couples is exempt from IHT so they won't be worrying about it.

BRANDED 7:24 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
Well. There might be a level of tax that works all round and stops you having urchins robbing you in the street. And having an infrastructure that works. Some think its zero some think its 98%. In the end it will be some place in the middle of all of that.

BRANDED 7:21 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
There is literally NO reason for a half competent parent to avoid their children paying inheritance tax.
All this shit comes up because the feeble minded suddenly found their property is worth a million and don't know how to deal with it.

Fucking hopeless.

J.Riddle 7:20 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
Sure. Some businessmen leave. Some come. That's kinda normal.

Sir Jim still left though to avoid higher taxes Sure. Some entertainers left. Some came. That's kinda normal.high kinda reinforces my point. Still as you were....

Hammer and Pickle 7:18 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
Advocates of high inheritance tax ought to consider it is possibly the most progressive, and indeed political, form of tax around; those who have little or nothing to pass on will tend to be massive advocates while potential bequeathers and bequeathed will naturally hate the idea. So while it is likely to be ineffective (people will simply give their property to their children in forms that the tax does not cover), it will cause far more social division between haves and have nots than ever before. Oh and apart from that it is a silly, Bolshevik idea cooked up for the consumption of the weak-witted and easily swayed, frustrated social-case type like Nurse Ratched.

BRANDED 7:15 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
Britain’s richest person is quitting the UK for Monaco – just two months after he was knighted by the Queen for “services to business and investment”.

Sir Jim Ratcliffe, the founder and chief executive of petrochemicals company Ineos and a high-profile Brexiter, is preparing to move to the tax-free principality on the Côte d’Azur in order to avoid UK taxes on his vast wealth. His fortune is estimated at £21bn.

He didn't really need higher taxes to do that. He made his money in the UK from the UK system and then decided to leave.

BRANDED 7:12 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
Sure. Some entertainers left. Some came. That's kinda normal.

J.Riddle 7:10 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
build more houses. flood the market and drive any current property's residual relative worth down.

We can't concrete over the green belt garden of England.
Controlled immigration would help, controls re the Chinese would be another way, failing that a cull would be required.

J.Riddle 7:03 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
That wasn't true in general. The problem in the 70s was the asset owning classes were making no money from their investments.

A contradiction in terms. There were many high profiles rich leaving to live abroad who said it was because of the 90% UK tax rates back then, Tom Jones, Michael Caine, a voluminous amount to list.

Assets naturally went South very quickly under those conditions as there was a mass scramble to see who could sell up quickest, like rats leaving a sinking ship.

SurfaceAgentX2Zero 6:55 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
Block 6:24 Mon Sep 23

'Also, with property prices now so fucking high without help from these sorts of situations people will struggle more so to get onto the ladder.'

Since people now live a very long time and tend to leave their money to their already comfortably-off (late?) middle-aged offspring with their own homes, it follows that those already comfortably-off offspring have few other things to do with their money than to reinvest it in property.

In short, low inheritance tax is one of the major contributors to house-price inflation.

Mike Oxsaw 6:54 Mon Sep 23
Re: EU Referendum 23rd June 2016 declares Cameron
The wealth that I have created has already been taxed once at it's point of creation. Fucked if it should be taxed again when I chose how to dispose of it.

If the issue is one of wealth created by the rise in the cost of housing, then the government has - and has always had - the solution at it's disposal: build more houses. flood the market and drive any current property's residual relative worth down.

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