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It's damned if you do, damned if you don't. I don't necessarily think that it will make people spend more, but then I don't think lifting the income tax threshold would either, however that would benefit the poorer which would be more equitable.

In addition, the actual adminstration of implementing the tax cut for small retailers in particular with pretty much no lead time has given a lot of extra work etc, I bet the IT industry were happy with it.

LEQ wrote:Heh, I'm not too far away, KT20 is moi. It was facking heaving on Saturday, you from there? Been here about 6 months now, all good.

10 hour shift at John Lewis Kingston every Saturday and 11 to 5 Sunday...

NOT THE ONE!

eLBe wrote:I agree we need taxs but think we need a revolt as well, it is time we cleared parliment out and installed a new group, on less pay and less benifits....

you know - i found out last week that the cheapest pint of beer in the country at the moment can be bought in the bar at the houses of parliament for 85p..... i got a bit of a bad taste in my mouth at that..



i think its the taxation at every step of the line that drains people... a really crazy one - inheritance tax. basically if you dont think ahead and put whatever you wanna leave your kiddies in their name more than 7 YEARS before you die - the govt fleeces a %.... i dont understand the reason behind that at all - taxing the dead basically.

inheritance taxman wrote: yeah so, like, well sorry bout your parents being dead and all, but if you want to actually drive that car they left you in their will as a present- which they already paid loadsa tax on to buy, run and register on the road anyway, you're gonna have to pay up mate.

oh yeah and, if we're getting to rant about paying stupid fees that never come back to us, when in the name of HELL are they going to get rid of the frigging tv license?!

dr ddd wrote: i think its the taxation at every step of the line that drains people... a really crazy one - inheritance tax. basically if you dont think ahead and put whatever you wanna leave your kiddies in their name more than 7 YEARS before you die - the govt fleeces a %.... i dont understand the reason behind that at all - taxing the dead basically.

yeah and its 40%!!!!
granted the threshold for paying any inheritance tax on an estaste is about £300,000 but in real terms this could well mean that if mummy and daddy own a nice house when they are gone you have to sell it just to pay the inheritance tax off...madness

FC wrote:yeah and its 40%!!!!
granted the threshold for paying any inheritance tax on an estaste is about £300,000 but in real terms this could well mean that if mummy and daddy own a nice house when they are gone you have to sell it just to pay the inheritance tax off...madness

Yeah, inheritance tax has been silly since house prices went through the roof. The point of it is stopping wealth accumulating in mega rich families which is a good one unless you fancy a trip back to the medieval class system where if you're born into the 5% who own everything you can just kick back and make a cushy living off the stuff you've inherited whereas if you're unfortunate enough to be born into the 95% of the population who actually do productive work then however hard you graft you'll be pond life compared to the guy whose mummy and daddy own half of scotland.

But since house prices have gone through the roof it's hitting a lot more ordinary people.

You're still doing well if your parents are leaving you a three hundred grand motor, though...

Slothrop wrote: But since house prices have gone through the roof it's hitting a lot more ordinary people.

yeah tbh i think it's totally likely that a family with 3 or 4 kids in london have this sort of value.... and isn't it in the total estate value - i.e. car and value of the house (not just equity), any pension remainders, life insurance etc? Plus in these situations i find they rarely look at any negative values to offset it (e.g credit card bills, financial arrears, mortgage etc).

I'm not too hot on the details, but the concept of it seems pretty bizarre- and i dont think those 3 or 4 kids end up with much more than a tenner each...

tbh it fails to help prevent the so called stinking rich - because they're used to it and just make sure they put they're family country house or that rather lucrative business in their little squire or princess's name when they're young - inheritance tax totally circumvented!