Thread 11 Starmer: Will that Phone Call Be To Harris or to Trump? (the decidedly superior looking cats thread)

[BIossomtoes]

New thread.

https://www.mumsnet.com/talk/_chat/5195566-thread-10-starmer-first-female-chancellor-delivers-the-budget?page=40&reply=139578573

So if farmers want to avoid IHT entirely, they can set up a trust? So the farm can stay in the family?

Is there a downside to doing that?

I think depends if you carry on benefiting from the asset in that trust.... ie living at the farm rent free.

Gifting would be the obvious avoidance plan, 7 years and its all tax free and a sliding scale of tax payable for each year up to 7 years.

Dan Neidle really explains it well. The number of farms affected is small and there are ways around it.

x.com/therestismoney/status/1858932306863398927?t=bUCmrnt4iQ3nWMUQdlkzng&s=09

There are different kinds of trusts which offer different benefits. There are charges both for setting them up, registering them and then ongoing payments for administering them etc. They aren't a cheap or necessarily simple option but a big part of their USP is their tax efficiency.

If you want a bit of a laugh, see below

I think this is very likely as a next step. This government isn’t going to stop pissing off farmers if it wants to reach its building targets.

www.independent.co.uk/news/business/house-prices-building-farmers-protest-tax-b2649877.html

I look forward to the threads...

This whole row over taxes in general reminds me of this

PMQs today is Angela Rayner vs Alex Burghart

I know why they've wheeled him in. He is chancellor for Duchy of Lancaster and has tweeted endlessly about the farmers.

Ironic isn't it... the Duchy of Lancaster ... I'll say no more...

The "subtle" scaremongering thread has gone as well as I would hope an attempt to scare the Great British Public should go.

"Putin ! has only got one ball ...."

etc

I am only surprised they haven't shoehorned in iht, ps tax, rr's cv

Pay rises for the Unions, Alex is doing well

Gosh, he is very shouty

He did Badenoch’s first two PMQs so you can see the excellence

Absolutely.

He was Boris Johnson's Private Secretary during Partygate and Minister for Growth under Liz Truss.

Good at his job then? Ideal candidate for promotion?

Are the tories doing that thing where companies promote the incompetent people to get them away from the real work?

He was terrible. Rayner is getting very good! Crisp and effective

She owned 30p Lee as well

Well that explains says a lot!

That was brilliant 🤩

The next general election can’t come soon enough.

Damn. Missed it again! I keep forgetting and am in the shower post rescue dog walk. I should get a move on earlier.

That is how I felt in 2019! It will come round faster than you think. It will be interesting to see where we are then. I am hoping I won't still be addicted to Mumsnet, though.