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Did he tell you that the average person has less than half a vagina and less than one testicle ?
If those bastards didn't rob everyone you wouldn't receive a wage would you ?
Sounds like you want to have your cake and eat it.
long term assests should be lower rate than short term investments
To put it in perspective..
If you inherit £500,000 - you'll get £300,000 tax-free so you pay 40% on the remaining £200,000
So you pay £80K tax
So you still inherit £420,000
So if you inherit the big 1 million, you'd get £760,000
Is that not enough for people ??
You could live a nice comfortable life on the interest alone!
most people don't realise this
It's about giving the impression of giving a tax cut when in fact practically no-one will recieve one, and ironically the vast majority of people supporting it will be the ones that have to foot the bill. I'd be interested to know how many people who inherit a £300k house actually live in it, since the Conservative minister seemed very keen to suggest that this was a bill to get on the property ladder.
Just because you'd have loads of money left after tax, has no bearing on whether it was right or proper for the money to have been taken from you in the first place.
Tax is tax, you either believe its a needed evil or you think there shouldnt be any at all. I'm not really sure the moral argument comes into it at all this to me seems to be one of the least unfair taxes around it only takes from people who can afford it and who are getting a big fat cheque.
Nobody has to worry about this tax, because only those who can (easily) afford it are asked to pay it. It'd be like saying someone's worried about the tax they have to pay on their lottery win - I think the million pounds they're getting might soften the blow a bit.
Shock horror its a tax which takes from those who can afford it and gives to those that cant - surely thats the whole point of tax?
If you earnt £300K would you expect to be taxed on it?
Hmm, actually, wouldn't you be taxed exactly 40% on it incidentally?
The Tory idea basically means that rather than someone who inherits a million pound house getting £720,000, they're now getting £1m. God, I can't believe the poverty. I'm sure the extra £280k will help them put food on the table through winter.
I'm not taking a polar stance on tax. I'm also not arguing against inheritance tax. What i am saying is: How much your left with after tax, doesn't validate a tax.
As good as, because everything over the £36K mark would indeed be 40% - and with this you dont even have to turn up at an office everyday.
But this tax is to do with houses, and as the Daily Mail tells us our houses are virtually the most important thing ever.
There are personal tax allowances for income tax so I think it is right to have one here too, I just think £600K is too high.
Because under a certain amount (at the moment judged to be £300k) you'd be preventing plenty of people from ever being able to get on the housing ladder. It's good for affordable housing to be available to as many people as possible, so anything under £300k is a decent benchmark for tax-free homes. Anything more than that, and you shouldn't have a problem selling the house to pay your tax bill and buying something more affordable, and it means that no matter how much you inherit, you should still be able to afford to buy a house, because you'll always have at least £300k.
£300,000, even down south, is a large amount of money. It's more than three times the value of my home, which is a fairly nice house in a fairly nice part of town.
Were you not paying attention when they told you who your employer was?
I don't mind paying tax on my wages. I- like you- am paid by the Government, so complaining about tax seems a bit ridiculous.