Reply to: Time to cut benefits?

[northernladyuk]

I appreciate it's Friday afternoon, but you can do better than that.

You get what you deserve.

[The_Equalizer]

What is Inheritence tax?

I appreciate it's Friday afternoon, but you can do better than that.

[northernladyuk]

I'm a fast learner.

Inheritence tax - loved by those without anything coming their way, loathed by those that have.

What is Inheritence tax?

[The_Equalizer]

You're talking nonsense. Again.

I'm a fast learner.

Inheritence tax - loved by those without anything coming their way, loathed by those that have.

[vetran]

You're talking nonsense. Again.

he is just trying to get down to the remainers level

[vetran]

I know of a few people with elderly relatives who find them difficult(like PC). The alternative is far worse.

Though the only reason I want to become old is to become as much of a burden to my children as they were to me.

Be nice to your kids they choose your care home!

[northernladyuk]

Difference being (as you well know ) is it's taxing something that has already been purchased and subject to tax (stamp duty) and bought with income that has already been taxed. Anyway, I say viva the seven year rule.

You're talking nonsense. Again.

[The_Equalizer]

So? It is still already taxed income.

Difference being (as you well know ) is it's taxing something that has already been purchased and subject to tax (stamp duty) and bought with income that has already been taxed. Anyway, I say viva the seven year rule.

[northernladyuk]

Thought you had to buy stuff to encounter VAT?

So? It is still already taxed income.

[The_Equalizer]

What I mean is - if one generation decides to keep their inherited wealth, spend it on what ever they fancy, or even to pass it on to the cats home because they do not believe in inherited wealth - and the youngsters at the bottom of the waterfall inherit nothing. Have they lost out?

This is an ethical question.

Sorry, my misunderstanding. Yes, of course they have lost out. However, the main reason that this is become such a question is that inheritance of even a relatively modest house (in terms of size) can be a life changing event financially.

[original PM]

What I mean is - if one generation decides to keep their inherited wealth, spend it on what ever they fancy, or even to pass it on to the cats home because they do not believe in inherited wealth - and the youngsters at the bottom of the waterfall inherit nothing. Have they lost out?

This is an ethical question.

Not necessarily.

Many people leave little to nothing for the next generation.

For example all my grand parents are now dead - think in inheritance I ended up with about 20k altogether - not life changing

My parents got nothing as it skipped them and came straight to me and my brothers.

[PurpleGorilla]

I’m pretty sure tax rises are proportional to tax evasion. Why should the state get its mits on already taxed income?

What I mean is - if one generation decides to keep their inherited wealth, spend it on what ever they fancy, or even to pass it on to the cats home because they do not believe in inherited wealth - and the youngsters at the bottom of the waterfall inherit nothing. Have they lost out?

This is an ethical question.

[Bee]

You should have listened to susguro.

[The_Equalizer]

So will you abolish VAT on the same basis?

Thought you had to buy stuff to encounter VAT?

[northernladyuk]

I’m pretty sure tax rises are proportional to tax evasion. Why should the state get its mits on already taxed income?

So will you abolish VAT on the same basis?