| Labour hates hard working people 13:54 - Nov 1 with 9355 views | onceablue |
What is the point in working hard all your life to obtain a decent standard of living.
All I wanted to do was work hard so we can make sure the kids are ok and the Labour goverment decide now even pensions are include in inheritance tax.
So everything I have worked hard for the government will take 40% of it back when I die when I have already paid tax on it
If the NHS is in such a bad state why didnt they put a penny or 2 on income tax and state this money is specifically for that purpose. They didn’t do it because they don’t want any Labour voters being affected by their Budget.
Everyone wants a decent NHS as we will all end up using it
Basically Labour demand all the people that don’t vote for them carry the majority of the Burden of the Country
This budget will destroy any growth for the Country even the OBR have down rated Labour growth predictions.
They have hit Employers hard which will mean eventually employees suffer which mean people will stop spending money and any growth will be impossible
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| Labour hates hard working people on 15:14 - Nov 1 with 1228 views | Wickets |
| Labour hates hard working people on 14:00 - Nov 1 by Blueschev |
Why should people be exempt from paying tax on wealth they have done absolutely nothing to earn? |
Particularly as Pension wealth was tax free in the first place . |  | | |
| Labour hates hard working people on 15:15 - Nov 1 with 1230 views | stickymockwell |
I thought you can put in 60k into your pension tax free each year. So you personally haven't paid any tax on what's left when you die. So its a way of squirrelling money away tax free in your lifetime. Unfortunately your kids will have to pay some on it. |  |
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| Labour hates hard working people on 15:17 - Nov 1 with 1215 views | SaleAway |
| Labour hates hard working people on 15:02 - Nov 1 by billlm |
What a country
You earn, pay tax on it
You pay into it a pension for your future
Allowing for the 25% tax free which is your money in the first place,
You then pay tax on the rest,
Then you die and if you have any left of wait your dependants are taxed on it,
This generation I can see why there's no incentive to save, someone will look after them at the end, the government without paying taxes, |
Hang on - lets look at this...
you earn, pay tax on it, pay it into a pension... nope., you earn, pay it into a pension, and don't pay tax on it.... ( or you pay tax on it, put it into a pension and claim a tax rebate on it)...
allowing for the 25% tax free.... ( so not taxed)
you then pay tax on the rest ( when you take it out of the pension, thereby it not being in the pension when you die).
This generation, I can see why there's no incetive to save --- which generation are you referring to?
I think the boomer generation saved small amounts, into hugely generous pension schemes, and also made large amounts through house price inflation.
Generation X, possibly didn't save as much when younger, but made huge amounts through house price inflation. probably able to save harder now, as their relatively small mortgages begin to ease.
Millenials. have seen real world wage erosion, soaring rent and house prices. Most of them are if saving at all, desperately trying to scrape enough together to fund a house deposit... then paying it off over 30+year mortgages, which will impact on their ability to back load pension saving at the high earning point of their careers
Gen Z - as with millenials, but with less hope for the future ;-) | |
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| Labour hates hard working people on 15:22 - Nov 1 with 1172 views | jonbull88 |
| Labour hates hard working people on 14:14 - Nov 1 by Tonytown |
Until yesterday you could buy land and avoid inheritance tax too, which is a loophole that has been closed. That’s why Clarkson is angry, as he was simply looking to avoid tax as well as sell a TV show |
What they should have done is change the “active farmer” rule. At the moment any average joe can buy land attend a few meeting as get classed as a farmer and get iht relief. I would have liked to see it changed that to be an “active farmer” the farm must be sole or main income. A proper family farm full of active farmers could then get relief on a more sensible figure, say £10m and a “land owner” would only get relief on sat £5m. Then the likes of clarkson and dyson wouldn’t be hiding cash in land. For me as forth generation on my family farm this news would stop my children benefiting from over 100 years of hard graft from previous members of the family and makes me think what’s the point. | | | |
| Labour hates hard working people on 15:27 - Nov 1 with 1156 views | billlm |
| Labour hates hard working people on 15:17 - Nov 1 by SaleAway |
Hang on - lets look at this...
you earn, pay tax on it, pay it into a pension... nope., you earn, pay it into a pension, and don't pay tax on it.... ( or you pay tax on it, put it into a pension and claim a tax rebate on it)...
allowing for the 25% tax free.... ( so not taxed)
you then pay tax on the rest ( when you take it out of the pension, thereby it not being in the pension when you die).
This generation, I can see why there's no incetive to save --- which generation are you referring to?
I think the boomer generation saved small amounts, into hugely generous pension schemes, and also made large amounts through house price inflation.
Generation X, possibly didn't save as much when younger, but made huge amounts through house price inflation. probably able to save harder now, as their relatively small mortgages begin to ease.
Millenials. have seen real world wage erosion, soaring rent and house prices. Most of them are if saving at all, desperately trying to scrape enough together to fund a house deposit... then paying it off over 30+year mortgages, which will impact on their ability to back load pension saving at the high earning point of their careers
Gen Z - as with millenials, but with less hope for the future ;-) |
Today's youngsters,
Three quarters is taxed again that you already paid tax on when you want it in the first place,
A very minimal tax rebate considering the tax you pay,
If it's invested well yes you do earn interest
And Generation X back in the day weren't a bad band, |  | | |
| Labour hates hard working people on 15:32 - Nov 1 with 1145 views | SaleAway |
| Labour hates hard working people on 15:27 - Nov 1 by billlm |
Today's youngsters,
Three quarters is taxed again that you already paid tax on when you want it in the first place,
A very minimal tax rebate considering the tax you pay,
If it's invested well yes you do earn interest
And Generation X back in the day weren't a bad band, |
You don't understand pensions, do you? | |
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| Labour hates hard working people on 15:37 - Nov 1 with 1121 views | MK1 |
Could this be moved to General please. |  |
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| Labour hates hard working people on 15:46 - Nov 1 with 1082 views | BloomBlue |
GPs now getting upset because they will have to pay more employers NI. Tough, GPs earn over 100k which puts them in the top 10% of earners in this country. They should know the NHS needs more money, and the top 10% need to pay more tax. What's that expression, put up or shut up. |  | | |
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| Labour hates hard working people on 15:47 - Nov 1 with 1085 views | DanTheMan |
| Labour hates hard working people on 15:15 - Nov 1 by stickymockwell |
I thought you can put in 60k into your pension tax free each year. So you personally haven't paid any tax on what's left when you die. So its a way of squirrelling money away tax free in your lifetime. Unfortunately your kids will have to pay some on it. |
As a side note, where does the idea that money should only be taxed once come from?
We pay VAT all the time from money that you'd assume has been taxed, why does nobody moan endlessly about that? |  |
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| Labour hates hard working people on 15:48 - Nov 1 with 1069 views | MK1 |
Could this be moved to General please. | |
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| Labour hates hard working people on 15:49 - Nov 1 with 1068 views | billlm |
| Labour hates hard working people on 15:32 - Nov 1 by SaleAway |
You don't understand pensions, do you? |
Have a decent one so I'd say I probably do | | | |
| PHIL / GAV - Please put this on the general thread. (n/t) on 15:52 - Nov 1 with 1063 views | Marshalls_Mullet |
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| Labour hates hard working people on 15:54 - Nov 1 with 1051 views | DJR |
| Labour hates hard working people on 14:03 - Nov 1 by The_Flashing_Smile |
The inheritance tax doesn't kick in until £325,000. If you're leaving that much to your kids it's probably fair that some of it is contributed to the running of the country, if we want things fixed and working for all.
But then as a Tory I guess you only care about yourself and your family. |
It is possible for the last surviving member of a married couple to leave £1 million to their descendants, if a house worth £350,000 is included. In other words, the tax free allowance is £650,000 plus the value of the family home to the extent it doesn't exceed £350,000. [Post edited 1 Nov 2024 16:01]
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| Labour hates hard working people on 15:59 - Nov 1 with 1019 views | DJR |
| Labour hates hard working people on 14:20 - Nov 1 by The_Flashing_Smile |
1. Of course I put my family first. You can support the betterment of the whole country while also putting your family first.
2. The idea that hard work is all you need and you'll never have to rely on benefits (although why this has come up I've no idea, we weren't talking about benefits) is old fashioned, silly and just not true.
3. I have no evidence you donate monthly to charities but it seems unlikely seeing as you want to avoid taxes that help run the country you live in and benefit from. |
The following article explains the situation but this is the key part for most people.
"If you're passing on your pension to your spouse or civil partner, this can be inherited tax-free, as with any other assets left to a spouse or civil partner."
https://www.moneysavingexpert.com/news/2024/10/pensions-liable-inheritance-tax-2 | | | |
| Labour hates hard working people on 16:00 - Nov 1 with 1003 views | Whos_blue |
| Labour hates hard working people on 14:11 - Nov 1 by onceablue |
Are you saying you don’t put your family first.
I am proud I support my family and have bought them up to work hard and not rely on anyone else for financial support ie, the government.
I can assure you I donate monthly to charities as well
Can I make a suggestion everyone on this website donates at least £10 to a charity every month I suggest something like Cancer research this will have a massive effect on the NHS |
How do you know some of us don't? |  |
| Distortion becomes somehow pure in its wildness. |
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| Labour hates hard working people on 16:01 - Nov 1 with 997 views | MK1 |
Can this be moved to General please. | |
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| Labour hates hard working people on 16:01 - Nov 1 with 998 views | ibbleobble |
| Labour hates hard working people on 13:59 - Nov 1 by homer_123 |
Herein demonstrates something about this country.
Where people are more interested in themselves, than they are about others.
The 'what's in it for me' mentality. |
The OP stated he's working hard for others ie: his family and children and your sanctimonious post is about selfishness. Ironic, right? It's not what's in it for him; he's clearly stated its about what's in it for his immediate others.
Perhaps your post is more reflective of this country, at least, this forum for sure. | | | |
| Labour hates hard working people on 16:02 - Nov 1 with 985 views | BlueBadger |
| Labour hates hard working people on 15:47 - Nov 1 by DanTheMan |
As a side note, where does the idea that money should only be taxed once come from?
We pay VAT all the time from money that you'd assume has been taxed, why does nobody moan endlessly about that? |
Yes, but that's tax that disproportionately hurts the less well-off, so therefore it's a GOOD one. |  |
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| Labour hates hard working people on 16:05 - Nov 1 with 973 views | OldFart71 |
What's the difference between someone thinking a person is all ME, Me, Me and one thinking someone else shouldn't have money ? I remember an episode of Heartbeat where David said to Greengrass "What's a Communist ?" Greengrass's reply was " Someone who's got nothing a want's you to have the same" Sadly life's not fair. People die young. Good people have bad luck and bad people have good luck. Again sadly many countries seem on the face of it to have either one end of the scale regarding wealth and all that life can provide for them whilst many live in poverty. Sometimes life is what you make it. You can't determine everything that happens along the way. But you can make an effort to have a good life. On the other hand you have many who simply aren't interested in hard work or an effort to better themselves. That's their choice as long as they don't expect to have what the person who's made the effort has. I do feel that's where the system breaks down. Because all rich and all poor are treated as being the same. But some rich have worked their way to wealth, some haven't. Some poor cannot help it, others you could give them a million pounds and within 5-10 years they'd be poor again. We need a Government that's not biased one way or the other. Sadly we don't have any that fits that criteria. | | | |
| Labour hates hard working people on 16:09 - Nov 1 with 944 views | BlueBadger |
| Labour hates hard working people on 16:01 - Nov 1 by ibbleobble |
The OP stated he's working hard for others ie: his family and children and your sanctimonious post is about selfishness. Ironic, right? It's not what's in it for him; he's clearly stated its about what's in it for his immediate others.
Perhaps your post is more reflective of this country, at least, this forum for sure. |
That most people, unlike the OP, aren't self absorbed tosspots who can't think about anything beyond their front door? | |
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| Labour hates hard working people on 16:22 - Nov 1 with 877 views | BlueBadger |
| Labour hates hard working people on 16:05 - Nov 1 by OldFart71 |
What's the difference between someone thinking a person is all ME, Me, Me and one thinking someone else shouldn't have money ? I remember an episode of Heartbeat where David said to Greengrass "What's a Communist ?" Greengrass's reply was " Someone who's got nothing a want's you to have the same" Sadly life's not fair. People die young. Good people have bad luck and bad people have good luck. Again sadly many countries seem on the face of it to have either one end of the scale regarding wealth and all that life can provide for them whilst many live in poverty. Sometimes life is what you make it. You can't determine everything that happens along the way. But you can make an effort to have a good life. On the other hand you have many who simply aren't interested in hard work or an effort to better themselves. That's their choice as long as they don't expect to have what the person who's made the effort has. I do feel that's where the system breaks down. Because all rich and all poor are treated as being the same. But some rich have worked their way to wealth, some haven't. Some poor cannot help it, others you could give them a million pounds and within 5-10 years they'd be poor again. We need a Government that's not biased one way or the other. Sadly we don't have any that fits that criteria. |
Did an AI write this word soup? | |
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| Labour hates hard working people on 16:30 - Nov 1 with 846 views | Swansea_Blue |
Don’t put your savings in pensions then. Take it out, stick it in a bond and gift it to your kids. You’ve then ‘just’ got to survive another 7 years (unless they’ve just changed that, but other tax efficient options are available). You’ll probably want that pension yourself though, so seek financial advice about what works for you.
If you were serious about what you claim you want to do, you should know there are ways to minimise IHT liabilities. If not, you really do need to read up or talk to a IFA. |  |
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| Labour hates hard working people on 16:31 - Nov 1 with 846 views | NedPlimpton |
| Labour hates hard working people on 15:49 - Nov 1 by billlm |
Have a decent one so I'd say I probably do |
Flexing about the size of your pension on TWTD!
I've seen it all |  | | |
| Labour hates hard working people on 16:35 - Nov 1 with 817 views | Swansea_Blue |
| Labour hates hard working people on 16:01 - Nov 1 by MK1 |
Can this be moved to General please. |
There’ll be a cleverly worked in football reference coming any time soon… | |
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