Rick 🍉

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Rick 🍉

Rick 🍉

@BigleftyRick

Social Democrat.

London Katılım Ekim 2021
272 Takip Edilen36 Takipçiler
Rick 🍉
Rick 🍉@BigleftyRick·
@DanNeidle So lack of evidence for rationale behind a payment works in favour of beneficiary as to whether tax is due?
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Dan Neidle
Dan Neidle@DanNeidle·
And if you want to be annoyed by other takes that don't say what you hope they will, you can follow me here, or subscribe for free updates here: taxpolicy.org.uk/subscribe It's a non-taxable gift.
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Dan Neidle
Dan Neidle@DanNeidle·
I promised our analysis of the £5m gift to Nigel Farage would annoy everybody. The verdict? He probably doesn't owe any tax. Why? Because "campaigning for Brexit" isn't a taxable trade, and genuine gifts aren't income. But there are risks for him. Thread:
Dan Neidle tweet media
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Rick 🍉
Rick 🍉@BigleftyRick·
@JuliaHB1 Freedom of Information Act request forced the hospital – after months of avoidance – to admit that it did not received a single complaint from Jewish patients. Hundreds of complaints were made about the removal of the artwork, but it has still not been restored.
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Julia Hartley-Brewer
@BigleftyRick Hospitals aren't appropriate places for highly politicised artwork. The decision to use artwork by Gazan children can't be seen as anything but political point scoring. You can choose not to go to the Nova exhibition but a patient can't choose not to see that artwork in hospital.
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Rick 🍉
Rick 🍉@BigleftyRick·
@moving_charlie The executor can make the decision to withhold to protect themselves before the tax bill is finalised.
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Moving Home with Charlie
Moving Home with Charlie@moving_charlie·
This is a step too far and I expect will create pushback and or an exodus. Shocking government overreach. No one asked for this.
Neil McCoy-Ward@NeilMcCoyWard

🚨Your pension is about to be raided and HMRC just confirmed how.... From April 2027, pension schemes will be allowed to withhold up to half of your retirement savings to cover inheritance tax. They can hold onto that money for up to 15 months while they work out what is owed Pensions used to sit outside inheritance tax entirely. From April 2027 they get hit with the standard 40% rate like everything else So your family loses up to 40% of what you spent a lifetime saving. The pension company sits on the other half for over a year before anyone sees a penny. Funeral costs, mortgage payments, school fees, none of it can be covered while the money is locked up The policy was announced by Rachel Reeves in the 2024 Budget. The operational detail confirming the 50% withholding rule was quietly published by HMRC this week, with final guidance not due until spring 2027, weeks before the deadline 10,500 estates will be dragged into inheritance tax for the first time. Another 38,500 will pay more. Average extra bill, £34,000 And this is how these things always work. The threshold starts high, the public is told it only affects the wealthy, and the numbers stay frozen while everything else rises The inheritance tax threshold has been stuck at £325,000 since 2009. House prices have nearly doubled in that time Every year, more ordinary families get pulled in without a single rule changing The government calls this closing a loophole. What it actually does is treat your pension like another revenue stream for the Treasury. Money you saved out of taxed income gets taxed again on the way out If you have a pension, this affects you. Check what your scheme is planning before April 2027 arrives Follow me to stay informed

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Dale Johnson
Dale Johnson@DaleJohnsonBBC·
@AnnieEaves @PierslandKillie I'll sorry but this is stupid. If I'd said "this proves it was handball" I'd understand. But I haven't. It was an off-the-cuff reply. You've completely misread this.
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BM.
BM.@PierslandKillie·
I'm not convinced that hits the boy's hand and not his head. How Beaton and Dallas can tell from that one angle I'll never know? If there's other angles which show it clear then fair enough, but in absence of that then there's no clear evidence for a VAR award? @DaleJohnsonBBC
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Andrew Gold
Andrew Gold@AndrewGold_ok·
So @owenjonesjourno, thoughts? Coz you’ve been banging on about atrocity deniers being freaks while promulgating your apparent bestial fantasy of Jews training dogs to…rape people 😅
Batya Ungar-Sargon@bungarsargon

"Heads were decapitated. Pelvic bones shattered. Even after death, sexual assault continued. A grotesque, medieval obsession with sexual organs pervaded the crime scenes at the Nova Festival and in the Kibbutzim near Gaza."

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Rick 🍉
Rick 🍉@BigleftyRick·
@DanNeidle Have you considered if he's good at spending efficiently?
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Dan Neidle
Dan Neidle@DanNeidle·
Help me understand something. If a Californian wealth tax would cost Brin $15bn/year, why is he only spending $57m to campaign against it? (I'm not asking about the policy, or the morality, just why he's spending so little)
Bernie Sanders@BernieSanders

Google founder Sergey Brin's wealth has DOUBLED to $311 billion since Trump's election. Now he’s spending $57M to oppose a 5% billionaires' wealth tax in California. He’d rather millions lose healthcare than pay his fair share in taxes. This kind of arrogance is unacceptable.

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Rick 🍉
Rick 🍉@BigleftyRick·
@CreativeDeduct the effect of tax & benefit reforms from 2010–25 has been to reduce incomes of the bottom 40% and the top 10% of households, and increase incomes in between. The poorest 20% of households have lost an average of 10% of income, while the richest tenth have lost 1.7% of income.
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Creative Deduction
Creative Deduction@CreativeDeduct·
I'm so tired of this gaslighting. Britain has one of the most progressive taxation regimes in the OECD. Taxes keep going up for high earners and down for everyone else. The UK raises more revenue from wealth and wealth-related taxes as a share of GDP than any other OECD economy.
Creative Deduction tweet media
Saul Staniforth@SaulStaniforth

Natasha Devon: "We seem to be caught in this endless conversation about military versus welfare state. No-one's asking whether we could perhaps tax wealthy people or tax assets a bit more"

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John Smith
John Smith@john51885·
@BigleftyRick @nav7634 @moving_charlie Yes if you die in a car crash, but as I said if you gift seven years before you die or there are other shorter but more expensive strategies then you don't pay it. What you printed here doesn't contradict what I said. With trusts you end up paying as if everyone dies with no plan
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ZenWayofLife
ZenWayofLife@ZenWayof·
@BigleftyRick @nav7634 @moving_charlie big government requires money, lots of it. There aren't enough ultra wealthy people to fund that and even if you took all their money it would last a very short time then what do you do? i do think we should be taxed less of our income but that only happens with a smaller govt...
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Rick 🍉
Rick 🍉@BigleftyRick·
@john51885 @nav7634 @moving_charlie You have zero evidence that I have misunderstood anything about inheritance tax. In fact I have had to correct you on when cgt applies.
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ZenWayofLife
ZenWayofLife@ZenWayof·
@BigleftyRick @nav7634 @moving_charlie changing these things would have a minimal impact on taxes collected. Want to really make a change? the only way to do it is reduce the size and scale of government so they need less of our money to function. But people like Gary want more government which requires more money.
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John Smith
John Smith@john51885·
@BigleftyRick @nav7634 @moving_charlie Last year I was gifted a large property in the UK, we have insurance for the IHT and it tails off so if the person dies in 5 years it's I think 10% rather than 40% so it's not a binary on a 7 years. You can google or chatgpt what I'm saying.
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John Smith
John Smith@john51885·
@BigleftyRick @nav7634 @moving_charlie No, again you are wrong. You can completely avoid any inheritance tax by gifting anything and it becomes a PET ( Potentially Exempt Transfer ) as long as you do it seven years before you die. There are other strategies also. So you don't need to time it, just plan it.
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Rick 🍉
Rick 🍉@BigleftyRick·
@john51885 @nav7634 @moving_charlie Theoretically if you can predict exactly when everyone in your family dies you can avoid inheritance tax. However gifting properties triggers cgt outside of main home.
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John Smith
John Smith@john51885·
@BigleftyRick @nav7634 @moving_charlie No, because trusts have much less relief than a regular person and a trust could last for any amount of time whereas a person dies once and they can gift property to their children and avoid any tax but a trust can't. Trusts do not save people tax.
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Sam Browning
Sam Browning@SamBrowning27·
@BigleftyRick @nav7634 @moving_charlie They use a trust so the assets go to the people they're intended for. It is a hereditary title after all. All trust income is taxed at the additional rate, so no tax is being avoided.
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