New Duke of Westminster

[fatjames]

Just a thought.
Inheritance Tax is 40% when an estate is over £325,000 and this young lad just inherited £9bn.

I wonder what the will country be doing with the £3.6bn heading our way?

[Hong Kong Phooey]

Voted funny! As if.
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'81 CG125, '97 FZS600 : '99 CBR600F4, '09 KTM RC8

[BrownTrousers]

I realise this isn't a serious question, but can't resist.

Of course most of his wealth will be in Trusts and business assets that attract relief such that virtually no IHT will be paid.

IHT is easy to avoid, and accounts for less than 1% of total taxes collected by HMRC.

The little that is collected is not ring-fenced, so free to be spent on speed cameras / surface dressing roads etc.
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Bikers make great organ donors - add your name to the register
Ducati Multistrada 950 | Triumph Tiger 800 XR | Honda CBR500R | Yamaha YBR 125 Custom

[G]

Lets say there was no way to avoid it at all.

If you were going to die, would you happily carry on keeping companies running that you owned running, knowing that they would be decimated when you passed them on to your children?

Or would you pass money to your children a long time before, disbanding said companies if needed.

Ok; we could tax all gifts to children.

But I can't see that going down well.

[Rogerborg]

All taxation is theft.

Stealing from the rich is no more moral than stealing from the poor.
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Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike

[Loui5D]

[Im-a-Ridah]

That much money is probably more bad than good.

[Rob Fzs]

It'll be all part of a trust
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'00 Aprilia RS50 > '92 Honda CG > '99 Yamaha Fazer > '91 Yamaha RXS > '79 Suzuki X5 > 01' Honda Cg > 07' Honda Cg > 82' Kawasaki Z200 > suzuki gsxr 400 gk73a > honda vfr 400 NC30> Yamaha RD350 YPVS F2 > Kawasaki ZZR 600 D1 > Yamaha TZR 250 2MA >Suzuki TL1000R > Yamaha TDR250 > Honda 929 blade > Suzuki SV1000 > Honda H100
Mod 2 Passed 09/06/2011

[Gone but not forgotten]

[Im-a-Ridah]

Actually taxation is not theft, unless paying rent is also theft, which case it would be theft also. You have a choice of whether you live in the UK or not, just as you have a choice of whether you live in a place and pay rent. Think of tax as a rental cost of living Britain, but at least theoretically the national rent is spent on services for you, not profits for your landlord. The landlord is also willing you pay you if you don't earn enough, which is a particularly interesting rental feature.

[G]

[Gone but not forgotten]

[Lord Percy]

I find it strange that anyone disagrees with the overall concept of taxation for the public purse.

As if their lives haven't benefited immensely from it since the day they were born.

[Wafer_Thin_Ham]

[Rogerborg]

[grr666]

[Lord Percy]

[Rogerborg]

We've had 70 years of cradle-to-grave handouts, throwing money at the lowest common denominator, and rewarding the worthless for procreating.

How's that working out for us? 0 would be perfect Corbyn-approved equality.

https://equalitytrust.cnd.io/sites/default/files/Gini%20Coefficient%201977%202013.jpg

Remind me: what's the definition of insanity?
____________________
Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike

[G]

[Lord Percy]

[barrkel]

[Rogerborg]

Your assumption being that under Thatcher, the rich got richer and the poor got poorer?

Why's that then?
____________________
Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike

[G]

[Rogerborg]

Everybody had an Audi Quattro in the 1980s.
____________________
Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike

[Lord Percy]