Considering voting Labour?

I can answer that hypothetical question for myself. I am 100% of the opinion that it is better for the dead to pay tax than the living.

Notanan2 Ever since Capital Transfer Tax was introduced (now Inheritance Tax) was introduced it has been necessary to keep a record of transfers of capital. Transfers from income are exempt and there are various other exemptions such as gifts on marriage.

If you buy a second house and keep it in your name, I agree, it is not a gift of capital but it will be subject to IHT as part of your estate.

Regular gifts out of income, such as giving your GC an allowance are exempt. Gifts of capital made, provided you survive more than 7 years are also exempt.

The trick is deciding when to start to give away your assets and how much to keep for your own future needs, should you require residential care when older.

The country needs to increase taxation in some form or other. Is it better that income tax is increased which would be a burden for the living, especially the young who are trying to save in order to buy a house, start a family or perhaps start a business? Or is it better that the deceased's estate bears the burden?

Opal Quote [ The worst thing about Labour is the cost of their principles and ideas, and who actually pays for it!] End Quote.

Opal, the Tory Party have after nine years of austerity which did nothing to reduce the national debt our even the deficit have now put forward a huge spending program. That program is completely uncosted with Johnson pulling the budget from parliament before it is to be dissolved therefore allowing no debate on the issue. So Opal, who do you think will be paying for that spending spree.

There were a number of forum members discussing how Gig Economy self-employed workers should save twenty percent of their very unstable and meagre income each week. Perhaps they also believe that a tax on those savings will pay for the Tory spending plans.

There are also those on this forum who believed that Johnson was the best thing since sliced bread, but many are now coming to their senses and realising that he is a liar, a womaniser with no real grip on validity whatsoever.

And the worst thing about Labour is the cost of their principles and ideas, and who actually pays for it!

The rich will not leave. We hear this so often and it doesn't happen. Even when a book is printed costing out what Labour intends you don't want to read it, understand or have any knowledge of it. This is blind prejudice, not a reasoned argument.

Opal, I think you need to look at how much the conservatives have spent compared compared with past labour governments. I think you will find Labour have been much cheaper.

And the worst thing about Labour is the cost of their principles and ideas, and who actually pays for it! The rich can either afford it or leave the country, the poor don't pay and yet again it's middle income families, the man in the street, who is expected to stump up. The economy will NEVER be safe with Corbyn et al, and everything else hinges on that - failed economy, failed country.

I worked in the NHS when James Callaghan was prime minister, the money wasted was appalling!!!

Trisher, I agree with you totally. I will not be voting for a leader but for the policies of that party. I like the labour policies. To me they are policies that care about society.

The best thing about Labour is a return to socialist principles and ideals doesn't matter who the leader is.

There are some on GN who think Corbyn is the best thing since sliced bread? but most have come to their senses about him over the last two years.Thankfully.

Blaming Labour because BUPA boomed is unbelievable. The 'boom' probably began when there were the great long waiting lists Labour inherited from the Tories. The NHS was in a mess- just like today.

Last election all Labour's spending was costed, unlike others

Hell!!

notanan2 exactly those of us who have been fortunate in business and have been able to buy our own home and pay our taxes will be “screwed” by Labour!!!

Not until he’ll freezes over......

But funny how Tory cock-ups always make sure it's the poorest who suffer!!

When service provision fails under any government, the most vulnerable are hit worst. Regardless of whose fuck up it is!

Have a friend who worked for BUPA during labours last disasterous "go" at running the NHS. Business BOOMED. Those who could jump ship did. And the most vulnerable was left to negotiate a chaotic service with money thrown in all the wrong directions.

McDonnell wants to do away with Inheritance tax and introduce a “lifetime gift tax” totally unworkable who adds up every gift they have given to their Children and Grandchildren? Does it include help whilst at Uni, driving lessons, holidays?

See if you're RICH. Just buy a house but keep it in your name, let your kids live in it rent free as caretaker while they save all they earn. That is not a "gift"

The working and middle class cant do that. But they might be able to scrimp together a small lump sum to help their kids towards a deposit. And THAT'LL be counted as a gift.

The RICH'll be FINE under labour...

Rich people are always in a flap about Inheritance tax

RICH people dont worry about it. They have the means to maximise gift allowances and loopholes.

Its people who havent been able to give a lifetime of school fees, holidays, cars, free rent, house deposits etc, who care most about getting to pass on what they do have to leave behind

We do treat our AC and GC to at least one holiday a year, paid for all their driving lessons, first cars and insurance.

In the SE of UK an average 3 bed flat/house is over £350,000, together with any savings or family “heirlooms” and Labour will want to tax the lot.

Please remember that these have been purchased with money that has already been taxed, VAT and Stamp Duty paid.

Labour is high taxes all the way!!!

Rich people are always in a flap about Inheritance tax...millions don't make it to Uni or have huge debts.

Is the norm to take 3 or 4 decent holidays and pay for AC?

Interested to see where £8.30 figure came from.

McDonnell wants to do away with Inheritance tax and introduce a “lifetime gift tax” totally unworkable who adds up every gift they have given to their Children and Grandchildren? Does it include help whilst at Uni, driving lessons, holidays?

Hasan Patel ?
@CorbynistaTeen

If you earn £82,000 a year, you’d pay £8.30 more a month in tax under Labour. Don’t forget only 5% of the UK earns £80k or more- 95% of us aren’t affected.

In return, we’d get a Green New Deal, free education, a proper NHS and homes for all.

Don’t let the Tories scare you.

But funny how Tory cock-ups always make sure it's the poorest who suffer!!

You know Tories can be bad AND labour can be bad. It's not mutually exclusive. Tory cock ups dont make Labour good by default!

Going "but but look over there at the Tories.." just sounds like deflection..

*notanan2 As I have already said, if a policy has been trialed and failed at local levels, rolling it out nationally is idiotic
Just the way the Tories b**** up Universal Credit then?!!!