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01-09-2012, 07:14 PM
21

Re: Don't you just love Word-smiths!

Rena I have no problem with gifting anything, it's you that is saying that it should be taxed first because people shouldn't be allowed unearned untaxed income!

It's the inheritance tax that I'm against, and believe that when whatever we have at the end of our lives, that has been accrued through our own efforts, acumen and toil, should not be taxed again. There is no fairness in inheritance tax, it is a mean tax and should be stopped for everyone.

Heaven knows the government waste enough of our taxes on their inept and incompetent governance without giving them any more to waste, what they should be doing is using what we give them much more wisely, perhaps then they wouldn't need to levy the inheritance tax at all ...
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01-09-2012, 09:15 PM
22

Re: Don't you just love Word-smiths!

Maybe I have been a bit less than clear over this Barry, but I don't think gifts (either money or material gifts) should be taxed again either, because obviously the living giver of the gifts has already been taxed on them. I was thinking of inheritances, rather than gifts, when I said why should people benefit untaxed from inheritances. So apologies from me for being misleading.
Even when folks do make gifts, I think there is something called "the seven year rule" which says that if the giver dies within seven years of giving then the recipient has to pay tax duties on what has been given away. So this means that one (hopefully both) of us have to live longer than 7 years after the gift was made to avoid tax being due.
Fair or unfair tax, I don't see any government getting rid of inheritance tax - it's such an effective way of getting revenue. As I said the dead are not going to need it and it is the Law of the country we live in anyway - so I think it is best for ordinary folks to give away or spend savings accrued before death calls - and for us this will probably be relatively easy to do. Just keep enough to live on and pay your way, I say. In reality keeping money locked away and doing nothing doesn't have much importance to me anyway these days. What matters most are my children and grandchildren's security.
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02-09-2012, 06:54 PM
23

Re: Don't you just love Word-smiths!

OK Rena, we need to agree to disagree on this one maybe, but just as a final aside I will say that I look forward to seeing the headline in the paper sometime....

"Mystery Chesterfield Woman Gives 40% of Her Lottery Win to the Treasury"

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02-09-2012, 07:52 PM
24

Re: Don't you just love Word-smiths!

It won't be me then Barry - I have never bought a lottery ticket and don't intend to. and where is this strange place called Chesterfield.
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spitfire
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02-09-2012, 10:26 PM
25

Re: Don't you just love Word-smiths!

I can help out here, Chesterfield is in Derbyshire, it has a church with a wonkey spire
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03-09-2012, 07:46 AM
26

Re: Don't you just love Word-smiths!

Dieter, if you do not want Tax to be paid on your estate then why not give your son some of his inheritance now and watch him enjoy his unearned gains.

We keep our assets down by giving our Son and Daughter cash gifts now and then or pay for any unexpected home maintenance jobs plus Our Grand Daughter has her university fees paid, that way we get to see them enjoy their life.
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03-09-2012, 08:03 AM
27

Re: Don't you just love Word-smiths!

Thought for the Day !


If you had purchased 1,000 of shares in Delta Airlines one year ago, you would have 49.00 today.

If you had purchased 1,000 of shares in AIG insurance company one year ago, you would have 33.00 today.

If you had purchased 1,000 of shares in Lehman Brothers five years ago, you would have nothing today.

If you had purchased 1,000 of shares in Northern Rock three years ago, you would have nothing today

But, if you had purchased 1,000 worth of beer one year ago at Tesco's, drunk all the beer, then taken the aluminum cans to the scrap metal dealer, you would have received 214.00.



Based on the above, the best current investment plan is to drink heavily & recycle.

A recent study found that the average Briton walks about 900 miles a year.

Another study found that Britons drink, on average, 22 gallons of alcohol a year.

That means that, on average, Britons get about 41 miles to the gallon!

Makes you proud to be British!
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03-09-2012, 11:48 AM
28

Re: Don't you just love Word-smiths!

Good thought UJ, if those stats are correct, I am way above avereage. Lol.
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03-09-2012, 04:24 PM
29

Re: Don't you just love Word-smiths!

Paul matey, I can do the 22 Gallons thing, but 900 miles??? - no way!!!
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Janela
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14-09-2012, 04:31 PM
30

Re: Don't you just love Word-smiths!

Clever Geoff..
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