UK Politics

[steviewevie]

 

[mattiloy]

On 11/16/2024 at 6:35 PM, steviewevie said:

Good argument for increasing inheritance tax.

Middle class millennials set to gain most from ‘unprecedented’ wealth transfer | Inequality | The Guardian

 

All for a big old inheritance tax. But also get that people want to leave something behind. So maybe just everyone agrees on a reasonable ceiling in cash per child + partner. 50k? 100k? Then just take everything above that, exceptions for those who have dependents (kids or disabled adults), there the tax could be suspended until they no longer needed it.
 

Not that certain about the figures in the article mind. Without migrants the population would decline and the arse would fall out of the property market a la Japan in the 2000s. 20 year forecasts for population growth/net migration are vulnerable to political choices.

[steviewevie]

 

[steviewevie]

wax jacket twats

[Neil]

farmers: dickheads, protesting about paying half the tax of others, and with a great deal

 

Quote

Under the new rules, those 462 farms would be affected by the 20% inheritance tax on any value above £1m (not on the whole value). The normal rate of inheritance tax is 40%.

However, as Dan Neidle - founder of the independent Tax Policy Associates - points out, like for the rest of the population, there is no inheritance tax to be paid on the value of property up to £325,000, bringing the untaxed total to £1.325m.

If a farmer is married, his or her spouse would be able to pass on another £1.325m tax free, taking the total untaxed amount to £2.65m.

There were 117 farms valued above £2.5m in 2021-22, according to the HMRC figures, external.

In addition, there is a £175,000 tax-free allowance on a main residence when it is being passed on to children or grandchildren. This brings the total untaxed amount for a farming couple to up to £3m.

Under the new rules, those 462 farms would be affected by the 20% inheritance tax on any value above £1m (not on the whole value). The normal rate of inheritance tax is 40%.

However, as Dan Neidle - founder of the independent Tax Policy Associates - points out, like for the rest of the population, there is no inheritance tax to be paid on the value of property up to £325,000, bringing the untaxed total to £1.325m.

If a farmer is married, his or her spouse would be able to pass on another £1.325m tax free, taking the total untaxed amount to £2.65m.

There were 117 farms valued above £2.5m in 2021-22, according to the HMRC figures, external.

In addition, there is a £175,000 tax-free allowance on a main residence when it is being passed on to children or grandchildren. This brings the total untaxed amount for a farming couple to up to £3m.

from: https://www.bbc.co.uk/news/articles/c8rlk0d2vk2o

 

[Neil]

The farmers are revolting!

They'd have more money if they hadn't voted away their subsidies with Brexit 

[steviewevie]

Inflation up to 2.3%. Come on Keir, pull your finger out.

[steviewevie]

[steviewevie]

Storm Shadow missiles being fired at Russia...so that's good...

[steviewevie]

RIP John Prescott

[steviewevie]

[steviewevie]

[mattiloy]

1 hour ago, steviewevie said:

Sensible, electable, grown up.

 

And complete f**king dogshit.

[steviewevie]

38 minutes ago, mattiloy said:

Sensible, electable, grown up.

 

And complete f**king dogshit.

Too many taxes.

Bring back Rishi.

[steviewevie]

 

[Ryan1984]

6 hours ago, steviewevie said:

 

Why are people after an election? Pissed off about the farmers and winter fuel stuff that won’t actually affect them?

[steviewevie]

35 minutes ago, Ryan1984 said:

Why are people after an election? Pissed off about the farmers and winter fuel stuff that won’t actually affect them?

Reform pricks are taking over

[Ryan1984]

16 hours ago, steviewevie said:

Reform pricks are taking over

Our local MP posts what they’ve been up to to support the local community in a Facebook group. Last week she asked what the government can do to help our underfunded schools in PMQs.

 

One of this lot is kicking off at her for being ‘political’ in the group (it’s all moderated) and keeps posting a link to this petition, saying he’s never seen the general public this angry with a government in his lifetime/how does the MP feel about backing the wrong horse etc.

 

Thought Starmer’s response was pretty good but this has filtered through to the Reform lot and their agenda.