The kulaks are revolting - does Urban back big farmer?

[rubbershoes]

Must admit I don't know the answer to this but if you live in a property that you inherit, do you have to pay inheritence tax? If not, the comparison with farmers situations is somewhat spurious.

The living in it exclusion is in relation to capital gains tax not inheritance tax.

Inheritance tax depends on the size of the estate. Living in the property is irrelevant

 

[ska invita]

 

[Bahnhof Strasse]

There are ways around inheritance tax that are not that hard to pull off. If you are very unlucky you may get stung, but if you really don't want to pay you put your assets in to a business and put your kids or whoever will be the beneficiaries of your estate on the board, as you get more frail you bail out of the business and make them the CEO/owner. The assets contained within it are then theirs. Clearly when they take them out they make get stung for capital gains tax, there's ways around that too; one of my customers inherited a business from his dad who died quite young (64), he sold it for £23m and fucked off to Monaco for 6 years. The cost of the flat in Monaco is immaterial, as when you finish the 6 years in your gilded jail you sell it for the same amount you bought it for. And you don't need to sit in Monaco the whole time, just not spend too much time in the UK...

I'm sure this advice will be gleefully taken up by many, many urbs...

 

[CNT36]

If you are very unlucky you may get stung, but if you really don't want to pay you put your assets in to a business and put your kids or whoever will be the beneficiaries of your estate on the board, as you get more frail you bail out of the business and make them the CEO/owner.

I think this may have changed in the budget as well.

 

[Bahnhof Strasse]

I think this may have changed in the budget as well.

Well that'll be the £200 I was leaving my kids fucked then.

 

[redsquirrel]

Novara doing some reporting & interviewing on it. She gets some racist and personal abuse on the clip as well.

Ash Sarkar Spoke to Farmers FURIOUS at Labour’s New Tax Laws | Novara Media

Is this Rachel Reeves' biggest mistake yet?

novaramedia.com

Quite an interesting piece that - on a variety of levels. Cheers LDC

 

[AverageJoe]

Honestly, the whole thing's a mess. Focusing on fair prices for farmers and consumers seems more sensible than throwing people in gulags.

Off topic, but that's some top quality lurking there thebutty . Four posts in 14 years shows a strength of restraint that I don't have

Top work!

 

[brogdale]

Nonsense. The decision to cut the Winter Fuel Allowance was a politcal choice not a necessary measure to 'fill the black hole' etc etc.

I note the Government has now admitted its decision will push an additional 100,000 pensioners into poverty just as temperatures hit -5.

That may be electorally and fiscally naive, but I think "nonsense" is a little harsh, tbh.

At heart we are looking at aspects of the neoliberal state consolidating to effect the regressive transfer of wealth from unearned to earned, the ownership of economic activity from public to private and state funding from tax to debt. One of the key neoliberal objectives is to remove tax burden from capital and, if the pensioners have to freeze in poverty, that is an outcome that the neoliberal consolidator state accepts. So, in a real sense, Rebecca Riot was not talking nonsense.

 

[SpookyFrank]

Meanwhile, this from the right to roam campaign:

 

[SpookyFrank]

There are ways around inheritance tax that are not that hard to pull off. If you are very unlucky you may get stung, but if you really don't want to pay you put your assets in to a business and put your kids or whoever will be the beneficiaries of your estate on the board, as you get more frail you bail out of the business and make them the CEO/owner. The assets contained within it are then theirs. Clearly when they take them out they make get stung for capital gains tax, there's ways around that too; one of my customers inherited a business from his dad who died quite young (64), he sold it for £23m and fucked off to Monaco for 6 years. The cost of the flat in Monaco is immaterial, as when you finish the 6 years in your gilded jail you sell it for the same amount you bought it for. And you don't need to sit in Monaco the whole time, just not spend too much time in the UK...

I'm sure this advice will be gleefully taken up by many, many urbs...

Or, just pay your fucking taxes.

 

[brogdale]

Novara doing some reporting & interviewing on it. She gets some racist and personal abuse on the clip as well.

Ash Sarkar Spoke to Farmers FURIOUS at Labour’s New Tax Laws | Novara Media

Is this Rachel Reeves' biggest mistake yet?

novaramedia.com

Good piece. I wasn't surprised to see many of the interviewees pleading cash poverty, "no money in the bank", claiming almost non-existent wages and seeing no prospect of accumulating any wealth because that's what farm owners always say. What was more interesting was to see how they appeared themselves to be surprised by their own asset holdings, and seemingly certain that the inter-generational transfer of those assets should attract no IHT.