Join for free
Page 3 of 4 < 1 2 3 4 >
Barry's Avatar
Barry
Chatterbox
Barry is offline
North Notts
Joined: Dec 2010
Posts: 15,676
Barry is male  Barry has posted at least 25 times and has been a member for 3 months or more 
 
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 ...
Aerolor's Avatar
Aerolor
Chatterbox
Aerolor is offline
UK
Joined: May 2010
Posts: 9,380
Aerolor is female  Aerolor has posted at least 25 times and has been a member for 3 months or more 
 
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.
Barry's Avatar
Barry
Chatterbox
Barry is offline
North Notts
Joined: Dec 2010
Posts: 15,676
Barry is male  Barry has posted at least 25 times and has been a member for 3 months or more 
 
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"

Aerolor's Avatar
Aerolor
Chatterbox
Aerolor is offline
UK
Joined: May 2010
Posts: 9,380
Aerolor is female  Aerolor has posted at least 25 times and has been a member for 3 months or more 
 
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.
spitfire
Chatterbox
spitfire is offline
Warwickshire
Joined: Jul 2012
Posts: 29,878
spitfire is male  spitfire has posted at least 25 times and has been a member for 3 months or more 
 
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
Antibrown's Avatar
Antibrown
Senior Member
Antibrown is offline
Cumbria UK
Joined: Apr 2010
Posts: 4,608
Antibrown is male  Antibrown has posted at least 25 times and has been a member for 3 months or more 
 
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.
Uncle Joe
Chatterbox
Uncle Joe is offline
Brighton UK
Joined: Jan 2011
Posts: 25,458
Uncle Joe is male  Uncle Joe has posted at least 25 times and has been a member for 3 months or more 
 
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!
spitfire
Chatterbox
spitfire is offline
Warwickshire
Joined: Jul 2012
Posts: 29,878
spitfire is male  spitfire has posted at least 25 times and has been a member for 3 months or more 
 
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.
Uncle Joe
Chatterbox
Uncle Joe is offline
Brighton UK
Joined: Jan 2011
Posts: 25,458
Uncle Joe is male  Uncle Joe has posted at least 25 times and has been a member for 3 months or more 
 
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!!!
Janela's Avatar
Janela
Fondly Remembered
Janela is offline
Essex UK
Joined: Dec 2011
Posts: 5,267
Janela is female  Janela has posted at least 25 times and has been a member for 3 months or more 
 
14-09-2012, 04:31 PM
30

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

Clever Geoff..
 
Page 3 of 4 < 1 2 3 4 >

Thread Tools


© Copyright 2009, Over50sForum   Contact Us | Over 50s Forum! | Archive | Privacy Statement | Terms of Use | Top

Powered by vBulletin Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.