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National Politics 🔴 The Labour Party

No, it's definitely the estate that pays it. The executor simply enables the transaction on behalf of the estate.

The executor is minus - ££££££`s........... they are "worse off" because they have paid IHT on assets that they still retain and carry on with. :)

IHT is one of the worst taxes that strangles the desire to invest, buy and do all the things that drive an economy, it is a tax of envy on the labour and work of the deceased.
 
The executor is minus - ££££££`s........... they are "worse off" because they have paid IHT on assets that they still retain and carry on with. :)

IHT is one of the worst taxes that strangles the desire to invest, buy and do all the things that drive an economy, it is a tax of envy on the labour and work of the deceased.

I think you are getting confused between executor and beneficiary.

A beneficiary receives net assets after the estate has settled its death duties.

An executor might only become liable for taxes if they have mismanaged the estate or have been negligent in fulfilling their legal duties.

If you want to avoid IHT, surely the aim is to spend and enjoy your wealth? - Doesn't that help the economy?
 
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I think you are getting confused between executor and beneficiary.

A beneficiary receives net assets after the estate has settled its death duties.

An executor might only become liable for taxes if they have mismanaged the estate or have been negligent in fulfilling their legal duties.

If you want to avoid IHT, surely the aim is to spend and enjoy your wealth? - Doesn't that help the economy?
Of course he's confused, he's dead remember having paid inheritance tax.
 
I think you are getting confused between executor and beneficiary.

A beneficiary receives net assets after the estate has settled its death duties.

An executor might only become liable for taxes if they have mismanaged the estate or have been negligent in fulfilling their legal duties.

If you want to avoid IHT, surely the aim is to spend and enjoy your wealth? - Doesn't that help the economy?

You can be both an executor and beneficiary.

Therefore you receive less having paid IHT to HMG on the estate of the deceased............ who had already paid tax on their income and investments.

Whilst it might be a "nice problem to have" it is still removing a lot of money that could be spent/invested or otherwise.....

And yes, we will absolutely ensure we do not leave the next generation with the same problem.
 
You can be both an executor and beneficiary.

Therefore you receive less having paid IHT to HMG on the estate of the deceased............ who had already paid tax on their income and investments.

Whilst it might be a "nice problem to have" it is still removing a lot of money that could be spent/invested or otherwise.....

And yes, we will absolutely ensure we do not leave the next generation with the same problem.

That depends on where some investments are held.

And don't forget the very generous tax relief on contributions going into pension schemes and the tax free element coming out. All of which have grown CGT free over the decades.

If you plan early enough and you can get your head around giving away the stuff you don't need when you are youngish, with no reservation of benefit, you can mitigate reasonable chunks of IHT (at the moment of course ... more than likely to change no doubt)

Do plenty of Skiing too boot to make sure you are not the richest person in the graveyard... such a waste.

You can give monthly sums away of any amount provided it is out of normal income and doesn't lower your own living standards or eat into your existing estate.

It's all swings and roundabouts at the end of the day.

What is it that you say, numbers and spreadsheets :) Death and Taxes.....

Plenty of ways to navigate the problem.
 
That depends on where some investments are held.

And don't forget the very generous tax relief on contributions going into pension schemes and the tax free element coming out. All of which have grown CGT free over the decades.

If you plan early enough and you can get your head around giving away the stuff you don't need when you are youngish, with no reservation of benefit, you can mitigate reasonable chunks of IHT (at the moment of course ... more than likely to change no doubt)

Do plenty of Skiing too boot to make sure you are not the richest person in the graveyard... such a waste.

You can give monthly sums away of any amount provided it is out of normal income and doesn't lower your own living standards or eat into your existing estate.

It's all swings and roundabouts at the end of the day.

What is it that you say, numbers and spreadsheets :) Death and Taxes.....

Plenty of ways to navigate the problem.

Indeed there are....... first up we boosted the economies in Dubai, Singapore, Australia, New Zealand & Bali. :cool:

And we are now following the gifting pathways for the next generation..... subject to any tax of envy from the current government.

The spreadsheets are working hard.
 
I think it depends what part of the left wing think tank you get youre information from 🤣🤣🤣 most of us in reality land know exactly whete it comes from .The labour party started the debt problem so I suppose they will want to finish it

Labour started the debt problem?

I think this disproves that:


Then chuck in this:


2010 was approximately £1tn.
 
Labour started the debt problem?

I think this disproves that:


Then chuck in this:


2010 was approximately £1tn.

It just proves that debt is never coming down no matter how hard you try…. It’s just a case of continually rolling the numbers and refinancing….. a bit like Oxford United and almost every other football club 🤣🤣

We just tweak around the edges to save a few billion here and spend a few billion there…

The aim of trying to borrow at a reducing rate each year is the correct one, but the debt is still growing.

The last time UK plc had an annual surplus was 2000/01 under Blair and Brown.
 
Money doesn`t exist.............. its all just numbers on apreadsheets......................... :) :ROFLMAO:

And it`ll get worse with the explosive growth in contactless/card payments.

Popped in one of the nice pubs in town yesterday, ordered a beverage, went to pay with a £10........... "Sorry we are card only"...... no notices, no warning and its only changed in the last month.

Turned round, walked out. :rolleyes:
 
Money doesn`t exist.............. its all just numbers on apreadsheets......................... :) :ROFLMAO:

And it`ll get worse with the explosive growth in contactless/card payments.

Popped in one of the nice pubs in town yesterday, ordered a beverage, went to pay with a £10........... "Sorry we are card only"...... no notices, no warning and its only changed in the last month.

Turned round, walked out. :rolleyes:
Go down the Blackbird, it's cash only (can't think why)
 
I see inheritance tax is coming back (flat 10% rate) again cant say i'm adverse to it although i think it probably should be higher.

I'm more adverse to someone getting 70k in perpetuity from a family trust fund gained through no work than someone getting off their backside and starting a business earning millions a year. I certainly wouldnt be uspet morally if the former poaid more tax on it than the latter who has earned their money from work. Someone who gains a house through inheritance for me is madness that someone who works and buys that house ends up paying more tax overall by working for the house than someone who inherits it.
 
Money doesn`t exist.............. its all just numbers on apreadsheets......................... :) :ROFLMAO:

And it`ll get worse with the explosive growth in contactless/card payments.

Popped in one of the nice pubs in town yesterday, ordered a beverage, went to pay with a £10........... "Sorry we are card only"...... no notices, no warning and its only changed in the last month.

Turned round, walked out. :rolleyes:
Will never understand the whole 'card only' thing. If you give some a £10 note then they have the full £10. If you pay £10 by card companies will usually lose between 1% to 3% of the transaction fee.

I still use cash for all my day to day stuff such as food & petrol and it does annoy me when you go to places such as football grounds which are card only.
 
I rarely use cash. I try to do all on Amex as you get 1% cash back.
Occasionally use my debit card.
 
Labour started the debt problem?

I think this disproves that:


Then chuck in this:


2010 was approximately £1tn.
COVID ,destroyed the country in many ways ,China seemed to do ok ,its been interesting what fauchi was saying in his diaries that have been published, there was alot more known and hidden from joe public
 
COVID ,destroyed the country in many ways ,China seemed to do ok ,its been interesting what fauchi was saying in his diaries that have been published, there was alot more known and hidden from joe public

Undoubtedly COVID was a massive hit financially and I'd suggest socially as well unfortunately.
 
Have you read what FAUCI wrote in his diaries very interesting? now he doesn't want to answer to the house ,
I’ve seen a fair bit about his diaries, but I don’t know what it is you are referring to that was hidden, so was wondering which things were hidden that he wrote about. I’m presuming you’re not referring to when he butt-dialled Barbra Streisand.
 
I’ve seen a fair bit about his diaries, but I don’t know what it is you are referring to that was hidden, so was wondering which things were hidden that he wrote about. I’m presuming you’re not referring to when he butt-dialled Barbra Streisand.
About the origin of Covid that they were still peddling it was from Wohan but it was actually from somewhere else,not that it matters now ,but what we were all told to do etc
 
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