Companies House Changes

[Yoghurt on a Stick]

2 hours ago, russycarps said:

 

Hi Yog thanks for the congratulations! 

 

Sorry to hear about your familial woes. Money is the root cause of much evil. 

 

But i agree, not all rich people are c**ts. What is rich anyway? Compared to someone with nothing, I am rich. Compared to most, I am not rich.

 

But whether I am rich or not, I pay my taxes without complaint. 

 

There is something incredibly grubby to see the founding family of Glastonbury desperately shuffling their paper work to avoid paying a few extra quid in tax. Very sad to see indeed. 

 

 

 

It's not really the money that I am after. I'm not a greedy man (except when it comes to alcohol and drug consumption). What I want is to know if my dad truly loved me, or not. I think next Tuesday evening will bring some clarity to that. 

 

Your point about paying the right taxes is the correct one. I do know that my mom and dad didn't swerve on those fronts. They didn't do so because they knew that taxes pay for the hospitals, schools, roads, etc etc. 

 

My wife nearly had to have her left arm amputated as a result of an NHS error. She had it in black and white that they had f**ked up and f**ked up bad. She wouldn't sue the NHS because she knew that they self insure, and that any gain made by her would be at the cost of treatment for many other people. The NHS saved my life twice, so I was with her on that one. 

 

Oh, I'm sure you know but benefit fiddles are absolutely nothing compared to tax avoidance by companies. Yet the Government(s) go after the benefit fiddlers rather than the huger block of tax avoiders. It's scandalous. 

[Yoghurt on a Stick]

1 hour ago, A Particular Grey Chihuahu said:

 

My wife is in that boat. Luckily its all good on my side.

 

I wish that she receives fairness. However, as russy says - money is the root of all evil. 

 

That said, i do like the quote that a Texas oil billionaire once said. He said 'Money can't buy you happiness, but with my kind of money you can rent it'!

[russycarps]

1 hour ago, CaledonianGonzo said:

 

Do you pay more tax than you have to just to feel more community minded?  Or do you just do what's required? 

 

 

I pay all my tax and don't employ accountants to help me avoid my obligations. It's a c**ts trick. 

 

11 minutes ago, Yoghurt on a Stick said:

 

It's not really the money that I am after. I'm not a greedy man (except when it comes to alcohol and drug consumption). What I want is to know if my dad truly loved me, or not. I think next Tuesday evening will bring some clarity to that. 

 

Your point about paying the right taxes is the correct one. I do know that my mom and dad didn't swerve on those fronts. They didn't do so because they knew that taxes pay for the hospitals, schools, roads, etc etc. 

 

My wife nearly had to have her left arm amputated as a result of an NHS error. She had it in black and white that they had f**ked up and f**ked up bad. She wouldn't sue the NHS because she knew that they self insure, and that any gain made by her would be at the cost of treatment for many other people. The NHS saved my life twice, so I was with her on that one. 

 

Oh, I'm sure you know but benefit fiddles are absolutely nothing compared to tax avoidance by companies. Yet the Government(s) go after the benefit fiddlers rather than the huger block of tax avoiders. It's scandalous. 

 

I hope you get the outcome you hope for on Tuesday. I very much admire your wife's stance.

 

Regarding benefit fiddlers, benefits are so grotesquely low, I've got no problem whatsoever with people fiddling the system. You have to fiddle to survive. 

 

It's millionaires making trusts and the like that I object to. Especially those who market themselves as champions of the needy.

 

 

 

 

[CaledonianGonzo]

2 minutes ago, russycarps said:

 

I pay all my tax and don't employ accountants to help me avoid my obligations. It's a c**ts trick. 

 

 

You'll need to point out how they're trying to avoid their tax obligations.  Most people with their own company or who are self employed have accountants. 

 

Assuming you're on PAYE, if your work payroll put you on the wrong tax code by mistake and you suddenly found your take home far less than it should be -  would you:

 

a) try and change it to what it should be or

 

b) just suck it up?

[incident]

47 minutes ago, russycarps said:

I pay all my tax and don't employ accountants to help me avoid my obligations. It's a c**ts trick.

 

You should probably google "business relief for inheritance tax".

 

In short - unless they've got wind of upcoming (and what would have to be very fundamental) rule changes in the budget, and are doing this to get ahead of that, this is very unlikely to be tax avoidance / evasion - as (under the current rules) the shares being transferred would be eligible for 100% relief for inheritance tax (ie not pay it).

[Yoghurt on a Stick]

1 hour ago, russycarps said:

 

 

 benefits are so grotesquely low, I've got no problem whatsoever with people fiddling the system. You have to fiddle to survive. 

 

 

Tesco's profit for the 2023/24 financial year was £2.83 billion. And yet they still squeal like babies about shop lifters. It's that kind of stock of people who boil my piss.

[plaskins]

17 minutes ago, Yoghurt on a Stick said:

 

Tesco's profit for the 2023/24 financial year was £2.83 billion. And yet they still squeal like babies about shop lifters. It's that kind of stock of people who boil my piss.

And the £3 meal deal has massively increased 😡

[russycarps]

1 hour ago, CaledonianGonzo said:

 

You'll need to point out how they're trying to avoid their tax obligations.  Most people with their own company or who are self employed have accountants. 

 

Assuming you're on PAYE, if your work payroll put you on the wrong tax code by mistake and you suddenly found your take home far less than it should be -  would you:

 

a) try and change it to what it should be or

 

b) just suck it up?

 

As I am someone who lives payday to payday, I'd ask them to rectify it asap.

 

If I was a millionaire with vast inherited wealth, probably I would react differently. Though maybe if I was such a millionaire I'd have a different mindset and demand it was corrected immediately. Rich people seem to care very much indeed about hoarding every penny they can, so perhaps I'd be no different.

 

 

 

1 hour ago, incident said:

 

You should probably google "business relief for inheritance tax".

 

In short - unless they've got wind of upcoming (and what would have to be very fundamental) rule changes in the budget, and are doing this to get ahead of that, this is very unlikely to be tax avoidance / evasion - as (under the current rules) the shares being transferred would be eligible for 100% relief for inheritance tax (ie not pay it).

 

Well if they are not avoiding any tax then there's no issue.

 

But regardless of that, people were still celebrating the hypothetical avoidance, so the debate is worth having I reckon.

 

 

[CaledonianGonzo]

There's a difference between a) tax planning, b) tax avoidance and c) tax evasion.

 

Roughly speaking they break down as a) following the rules and where possible minimising what you pay b) exploiting the rules via loopholes and complexities and offshore accounts in the Cayman Islands and ao on c) illegal behaviour.

 

Unless you know otherwise the Eavii seem to be doing a).  

[incident]

33 minutes ago, russycarps said:

But regardless of that, people were still celebrating the hypothetical avoidance, so the debate is worth having I reckon.

 

Literally nobody (here, at least) matches that description.

[Yoghurt on a Stick]

56 minutes ago, plaskins said:

And the £3 meal deal has massively increased 😡

 

Not if you steal the items! It's still costs the same then. 

 

PS - I don't steal items myself, but am acquainted with a few people who do. I once gave a lift to such a lady (when I still lived in Birmingham) to a family barbecue (her family, not mine) and she asked me to pull into a Farm Foods car park, which I did She said to me I've just got to nip in and get a few bits and bobs for the BBQ, and off she went, into the shop. When she came back and we were driving away she said 'You and Stella like a leg of lamb, don't you'? I agreed with her that we did. And then she reached down into her enormous cleavage and pulled out a whole leg of lamb, and said 'Here, this is for the lift'!  I sh*t you not. 

 

Now to go down a rabbit hole. I went to one of my cousins weddings (before the above incident) many years ago, and guess what? He was marrying the daughter (I am not sure if she has sisters) of the owner of Farm Foods. We are now talking the likes of those who have Learjets. Every car was a Roller, Bentley, Ferrari, Lamborghini etc And I rock up in my Ford Sierra, whose roof rack I only took off that morning because I knew it was going to be a posh wedding! lol

[Yoghurt on a Stick]

 

[The other Bellboy]

11 hours ago, russycarps said:

 

So they are avoiding tax so a load of rich bastards get a cheaper ticket?

 

Tax is just pissing money away? You know it pays for schools and hospitals and other quite useful stuff right? 

 

 

That's great! Shame they don't think funding hospitals and schools is part of their responsibility too. 

 

 

 

Personally, I've missed hearing from this guy - always a unique take on things. Every one who attends Glastonbury is a rich bastard? - I wonder if he actually thinks before typing, I try too personally but don't always get it right, but I feel I at least try and balance out my shoulder chips on occasion.

Like a few people on here, I'm quite into the tax and retiring stuff as its getting close for me, so have a little bit of insight. I have no issues with paying tax, have paid a sh*t load during my life, but inheritance tax is simply not fair, everything you have earnt during your working life has life already been taxed, so taxing it again is just plain wrong. They are just setting things up in an efficient manner. 

[The other Bellboy]

10 hours ago, Yoghurt on a Stick said:

 

It's not really the money that I am after. I'm not a greedy man (except when it comes to alcohol and drug consumption). What I want is to know if my dad truly loved me, or not. I think next Tuesday evening will bring some clarity to that. 

 

Your point about paying the right taxes is the correct one. I do know that my mom and dad didn't swerve on those fronts. They didn't do so because they knew that taxes pay for the hospitals, schools, roads, etc etc. 

 

My wife nearly had to have her left arm amputated as a result of an NHS error. She had it in black and white that they had f**ked up and f**ked up bad. She wouldn't sue the NHS because she knew that they self insure, and that any gain made by her would be at the cost of treatment for many other people. The NHS saved my life twice, so I was with her on that one. 

 

Oh, I'm sure you know but benefit fiddles are absolutely nothing compared to tax avoidance by companies. Yet the Government(s) go after the benefit fiddlers rather than the huger block of tax avoiders. It's scandalous. 

 

I hope you get the answer you want. Personally, I found out 3 months after my dad died that he had cut me out of his will and left everything to my sister, everyone in the family knew this had been done for 3 years - apart from me. Families can be complete c**ts when it comes to money, I have more than enough of my own and couldn't care less about the financial side, but it just shows what some people will do for a few quid, I have never forgiven any of them for this and never will. Its not money that's the root of all evil, its the love of money.

[A Particular Grey Chihuahu]

18 hours ago, Yoghurt on a Stick said:

 

I wish that she receives fairness. However, as russy says - money is the root of all evil. 

 

That said, i do like the quote that a Texas oil billionaire once said. He said 'Money can't buy you happiness, but with my kind of money you can rent it'!

 

😂 Good quote. 

Nah, her mum screwed her over big time before she died unfortunately (after abusing her as a child and dangling the inheritance in front of her for years). Ended up giving everything to he sister. 

I never wanted that money anyway. Feels dirty somehow.

[Franky]

On 10/26/2024 at 9:17 PM, russycarps said:

 

As I am someone who lives payday to payday, I'd ask them to rectify it asap.

 

If I was a millionaire with vast inherited wealth, probably I would react differently. Though maybe if I was such a millionaire I'd have a different mindset and demand it was corrected immediately. Rich people seem to care very much indeed about hoarding every penny they can, so perhaps I'd be no different.

 

 

 

 

Well if they are not avoiding any tax then there's no issue.

 

But regardless of that, people were still celebrating the hypothetical avoidance, so the debate is worth having I reckon.

 

 

The man is back!

[Yoghurt on a Stick]

On 10/27/2024 at 4:11 AM, The other Bellboy said:

 

I hope you get the answer you want. Personally, I found out 3 months after my dad died that he had cut me out of his will and left everything to my sister, everyone in the family knew this had been done for 3 years - apart from me. Families can be complete c**ts when it comes to money, I have more than enough of my own and couldn't care less about the financial side, but it just shows what some people will do for a few quid, I have never forgiven any of them for this and never will. Its not money that's the root of all evil, its the love of money.

 

I'm happy to hear that you have your own independent wealth. That certainly helps. The problem I have (and that you had) is that your sister was prepared to run with it. I think that 3 of my 4 brothers will / may do the same. Now if it was me, I would split it equally regardless of what verbal stipulations have been laid down.

 

My brothers asked me to look for photos  of my dad for his order of service (during covid lockdown times). Whilst looking I found two wills - one for this country and one for the estate in Ireland. One part of the UK will states that my wife is never to benefit from any money whatsoever. How they will work that one out I don't know. My dad didn't like my wife - mostly, I think, because she wasn't subservient to him, which he demanded from all. My other 'black sheep' brother isn't even married and the will says that if he should ever marry, then his wife shouldn't get a penny either. I mean FFS, that's crazed madness. Oh and the act of a Christian, apparently. 

 

 

[Yoghurt on a Stick]

22 hours ago, A Particular Grey Chihuahu said:

 

😂 Good quote. 

Nah, her mum screwed her over big time before she died unfortunately (after abusing her as a child and dangling the inheritance in front of her for years). Ended up giving everything to he sister. 

I never wanted that money anyway. Feels dirty somehow.

 

And the sister took the lot, I presume? Even though I fear my brothers will do something similar to me, I know 100% that I'd never do it to them. It wouldn't even cross my mind. That, as you say, would be dirty money.

[DeanoL]

It's also important to bear in mind that Glastonbury is not run like a traditional business. It donates most of its operating surplus to charity. And when we talk about "loopholes" being closed, those loopholes are often there to support non-traditional businesses, and then the big corporations restructure themselves to appear financially as one of these non-traditional businesses to take advantage of a scheme aimed at someone else. Then the loophole gets closed, hurrah, now they pay the right tax! And those non-traditional businesses get screwed.

 

It's like how farmland is exempt from inheritance tax. Why? Because farms are often family businesses, not massively profitable, and not easily splitable (you can't easily sell off 20% of your farmland to pay the 20% inheritance tax). So it's exempt, to protect these family businesses. 

 

So what happens? Super rich people late in life buy up loads of farmland which they can then hand over tax free to their kids, who can then inherit and sell it. Closing that "loophole" without also actually screwing over family farm businesses is difficult.

[russycarps]

On 10/27/2024 at 4:03 AM, The other Bellboy said:

Personally, I've missed hearing from this guy - always a unique take on things. Every one who attends Glastonbury is a rich bastard? - I wonder if he actually thinks before typing, I try too personally but don't always get it right, but I feel I at least try and balance out my shoulder chips on occasion.

Like a few people on here, I'm quite into the tax and retiring stuff as its getting close for me, so have a little bit of insight. I have no issues with paying tax, have paid a sh*t load during my life, but inheritance tax is simply not fair, everything you have earnt during your working life has life already been taxed, so taxing it again is just plain wrong. They are just setting things up in an efficient manner. 

 

You people do make me laugh. If you're married you can pass on £650,000 tax free. If you're leaving your home, the tax free allowance rises to £1m for a couple. You pay 40% on anything over these thresholds.

 

And this still isn't enough for you?

 

You richies really are disgustingly greedy.

Edited October 28 by russycarps

[dotdash79]

On 10/27/2024 at 4:03 AM, The other Bellboy said:

Like a few people on here, I'm quite into the tax and retiring stuff as its getting close for me, so have a little bit of insight. I have no issues with paying tax, have paid a sh*t load during my life, but inheritance tax is simply not fair, everything you have earnt during your working life has life already been taxed, so taxing it again is just plain wrong. They are just setting things up in an efficient manner. 

Double and triple taxation is in built into the system. I’m taxed on income, and when I get petrol I pay file duty and then VAT on top of that. 
 

also on the inheritance tax the tax isn’t on the person that had died it’s on the person receiving a windfall for not doing anything. 

[Nobody Interesting]

I never understand 'normal' people being angry about inheritance tax when less than 4% of people ever pay any and they are the wealthiest people in the UK.

My parents died and we never paid any as we were nowhere near the amount where we would.

Personally I am angry that the Earl (or maybe Duke) of Westminster inherited an estate worth over £10 billion and paid nothing.

[DeanoL]

On 10/27/2024 at 4:03 AM, The other Bellboy said:

Personally, I've missed hearing from this guy - always a unique take on things. Every one who attends Glastonbury is a rich bastard? - I wonder if he actually thinks before typing, I try too personally but don't always get it right, but I feel I at least try and balance out my shoulder chips on occasion.

Like a few people on here, I'm quite into the tax and retiring stuff as its getting close for me, so have a little bit of insight. I have no issues with paying tax, have paid a sh*t load during my life, but inheritance tax is simply not fair, everything you have earnt during your working life has life already been taxed, so taxing it again is just plain wrong. They are just setting things up in an efficient manner. 

There's another way of looking at it though:

 

Inheritance isn't fair.

 

There's a solid argument for inheritance tax being 100% with no allowance. Why should you get a load of money just because of stuff your parents did? You didn't earn it. Why should it be yours, just because of an accident of birth?

 

I'm being a bit OTT here but my point is if you look at it from that point of view, having some limits on it starts to make sense. Right now it's basically a lottery anyway. Parents die quickly in full control of their faculties? Loads of inheritance. Parents require long term care in their old age? Nursing home is taking nearly everything.

[DeanoL]

1 hour ago, Nobody Interesting said:

I never understand 'normal' people being angry about inheritance tax when less than 4% of people ever pay any and they are the wealthiest people in the UK.

My parents died and we never paid any as we were nowhere near the amount where we would.

Personally I am angry that the Earl (or maybe Duke) of Westminster inherited an estate worth over £10 billion and paid nothing.

I mean it's partly because what you're getting at with that last sentence. Only 4% of people every pay anything, but those are not the 4% richest. The very richest have it tied up in non-taxable assets while it's the next branch down that pay.

 

I'd replace the whole system so you were not limited on what you gave, but what you could receive. So everyone had a lifetime gift limit of say, £5 million, which is what you can receive in cash/asset gifts in your lifetime, including inheritance. And that's the only relief. So if a billionaire dies, they can leave £5 million each to their kids, and if they can find 1000 other people they can leave them £5 million each too and pay no tax at all.

[incident]

1 minute ago, DeanoL said:

I mean it's partly because what you're getting at with that last sentence. Only 4% of people every pay anything, but those are not the 4% richest. The very richest have it tied up in non-taxable assets while it's the next branch down that pay.

 

There's a lot of truth in this.

 

There's enough exemptions / reliefs that anyone who's employing specialists to manage their affairs should be able to avoid most of the inheritance tax hit if they so choose. Whereas people who manage their own affairs such as a random pensioner who lived frugally and saved their wages for 50 years and ended up with 7 figures in the bank probably won't.

 

In the case of the Eavii, I think it's fairly safe to say that the reliefs are very much within the "spirit" of the rules for Business Relief and Agricultural Relief - the limited companies are established and actively trading, the farm is working, and both are long standing affairs (presumably) staying in the family so should qualify for 100% relief.