Jeremy Corbyn wants to impose lifetime gift limits on children of £125,000

[ForTheLoveOfDoughnuts]

So we pay tax on what we earn. What we buy. And now this.. what's the point of working hard to help out our kids, for this to even be considered. Or AIBU?

Again, what's the point in the police protecting my property if the government is just going to tax it out from under me? Not to mention that the police can be quite adequately funded from all the other existing taxes without needing the socialists' vicious little raids on inheritance.

The irish model has gifts as property, cash, jewlery, stocks and shares, cars, interest free loans and use of a house for life.

I'm not sure they can fund them though. They've been cutting the numbers not increasing them. And look at schools. Soo many having to look at closing early as they don't have enough money to keep them open. And then there's the struggling NHS. So where's all this money then? I'd be interested to know where the treasury is hiding it?

Ah but you need the police to protect your property, and you need property law to be able to pass it on to your children.

Without either you don't have an asset, someone will just come and take it from you.

Nor is anyone taxing it from beneath you, this suggestion is for a small amoubt of tax above a large threshold

The police protect property?
www.express.co.uk/news/uk/942637/burglary-police-investigate-London-UK/amp

Not to mention that the police can be quite adequately funded from all the other existing taxes without needing the socialists' vicious little raids on inheritance.

They could be. But then again, my DH was taken off duty for two whole days to take part in a course that told officers what colour personality they are. This apparently constitutes a productive use of £10 million pounds.

I’m amused by the naivety of those who are so confident their money will be well spent. The police are constantly pleading poverty yet have money to squander on nonsense like this. It’s absolutely obscene.

Ah but you need the police to protect your property

They don’t try to. They don’t actively prevent crime any longer and haven’t done for years. They’re a reactive force that waits for crime to occur and tries to play catch up afterwards. It’s a fundamentally stupid way of going about things, but they’re intent on doing it.

What colour personality is your DH, Isabella?

This thread is eye opening, in terms of how much the political rhetoric of the last decade has emboldened the selfish. I am aghast that there are people willing to say these things publicly, albeit anonymously.

And all the last couple of pages has proven is that you’d still be able to advantage your children in myriad ways without incurring extra tax.

I cannot believe that a bunch of tories have the nerve to talk about nepotism, but then some here have had the nerve to call others greedy and grasping with no self-awareness whatsoever.

I have no doubt that the reason Labour gained such ground in the last GE is that the media are obligated to give fair and equal coverage during a GE, so people got to hear what Corbyn’s policies and principles actually were, rather than the shite written about him the rest of the time.

Like it or not, Tory rule won’t last forever.

They don’t try to. They don’t actively prevent crime any longer and haven’t done for years. They’re a reactive force that waits for crime to occur and tries to play catch up afterwards. It’s a fundamentally stupid way of going about things, but they’re intent on doing it.

Yes. They're complete plonkers, really. You find the odd cop who's really switched on, but the majority of them are defeated before they even try.

I call them all the time offering them interesting intel from my CCTV, they never take me up on it. Recently I picked up one of the local addicts shuffling down my street at 3am with a boxed Dyson in one hand and Selfridges bag in the other. I emailed the police offering to get it to them via google drive. Were they interested? No.

I accept that the UK is a complete disaster for property crime and it's only going to get worse because people feel sorry for thieves, but I'd like to avoid my kids being knifed.

Oh and we've had 2 cars stolen from right outside of our house - the police don't come anymore. They give you a crime reference number so your insurance can sort it. So bollocks to any idea that the police are protecting our property - my insurance policy does that, which I pay for with after-tax money.

SinkGirl - yes, that's kind of my point. This proposed change would still enable the people with the money to advantage and protect their children in myriad ways, so is it worth it? Would it definitely raise more revenue for any reason other than providing huge amounts of new work for tax avoidance advisers, and possibly fines for people who don't understand the rules and accidentally stumble into them when told they have broken them? Don't you really need a change of attitude towards tax, which is unlikely to be caused by such a tax change?

The tax payable can then be used to help children less fortunate

I have already been taxed on that income

Your not really getting how the tax system works are you?

The child has just received money on which they have paid zero tax.

Look, i understand where you're coming from, i ve paid tax all my life, if i should become ill in my retirement, my pensions, savings and property will be taken to pay for my care, should i live long enough, my child will inherit just 23k, a thieving policy worthy of the communists

I'd worry about that rather than a think tank idea that is unlikely ever to become Lab policy.

Aside, we should all pay a little more tax, assuming its not wasted... it improves society, educates the workforce, keeps us healthier - all things that contribute to lower crime but the tories austerity policies have done the exact opposite... longer term, costing us far more.

jasjas1973 - you see, I get that the child has not paid tax on the gift, but from what Zipee said, it still seems the tax is based on how much parents can pass on to their children rather than how much children can receive in gifts from any source? So it is still a kind of tax on the parent's estate (ie like IHT, but payable before aswell as after death), not a tax on all gifts.

my DH was taken off duty for two whole days to take part in a course that told officers what colour personality they are.

The personality colour test was a very small part of a course designed to improve a wide variety of policing skills, but inevitably the tabloid headlines identified this as the course's focus [sceptical]. As advised by T May police need to "do more with less", so skills and resources need to be maximised. 2 days away from frontline policing might seem wasteful (as might any training in any job, if it removes the person from doing their busy job for a while), but in the longer term it is designed to improve productivity. There's no way to measure its success or failure so soon.

I believe the colour test is about understanding more clearly how an officer's own personality can have an impact (positive or negative) on a situation. Worthwhile if this helps even a few of those officers to calm a difficult/dangerous situation, prevent violence, encourage someone to give evidence, be more aware of their own & colleagues' safety, deal with victims more sensitively, etc, etc.

@Walkaround no, its a tax threshold on all gifts over 3k. As said in Ireland a very similar tax includes cars, Jewlery, cash, property, interest free loans and long use of free housing.

Current arrangements are that you can give normal gifts if it doesn't effect your standard of living

should i live long enough, my child will inherit just 23k, a thieving policy worthy of the communists

I'd worry about that rather than a think tank idea that is unlikely ever to become Lab policy

I wouldn’t expect logic to come into it. This isn’t really about tax and being penalised for saving.

I love the fact that Isabella mentioned the colour thing and utterly misconstrued it.

As said efficiency is a hiding place for the disingenuous, its an attempt to moralise avoiding paying yout taxes essentially. Doesn't work because we can all object to how taxes are used, its down to governments that are elected by us to change it

It doesn't work.

@Lasteleven

You don’t need to explain it to me. The headlines focused on the cost for good reason. If you genuinely feel this is a worthwhile use of funds, I’m glad. My DH and his colleagues do not. When he’s being attacked (as he has been) with knives, petrol, chains, crowbars, hammers or oil, he doubts very much that knowing the impact of his personality on that situation will help in any meaningful sense.

We live in an increasingly violent and dangerous society. When my father started out walking the beat, he was armed only with a baton and he never once needed to use it. Police presence has declined and so has public respect for them.

The very last thing we should be doing is taking officers off the streets. That’s where they need to be, providing a visible representation of law and order and preventing crime from occurring, which is ostensibly their role. Courses like this cost a fortune and do nothing to address the fundamental problems police face.

What we need is an entrepreneurial society to generate the wealth we need. You don't get one by taxing incomes and spending whilst ignoring inherited wealth. Inheritance tax means we have an emphasis on wealth creation not rentier capitalism, which is what the country needs

And yet you’re whinging about paying tax @IsabellaLinton. Your husband’s job depends on the tax payer and the fact that his job’s harder is because of police cuts. It was you who said taxation is theft, wasn’t it? And here you are, living on stolen money. Hypocritical much?

Good point brahhumbug, and entrepreneurs need society to work for them to succeed.

Isabella appears to have tied herself in knots.

@Zippee

Did I? Which part? What did your family and friends think of the course? Tell me, how they think it will help them in policing the capital? I’m curious.

@TFBundy

I think it’s quite sweet of @Zippee to be so concerned about what other people do. She spent the whole day on this thread yesterday but worries about others posting with an ’alarming frequency’. Bless her.

TFBundy has the right idea.