Member Info for longtimeinvestor

Corn
''IT WAS A MAJORITY ''

Yes - about 7% more people voted to leave.

in June higher than expected

mtm
'it was stupid enough to allow people to vote ''
''Matters like this should be decided by experts''

As I said TOTALLY lost the plot

mtm
''6 years they had to make it work - IT DOES NOT WORK ''

you have totally lost the plot - it is just over 6 years that the people of the UK decided to leave the EU.
The vote worked very well as from the 31st Jan 2020 we ceased to be a member of the EU.
You have had over 6 years to accept the result of the vote, to then move on.
FFS do so.

has been triggered at 41.937

order in at 41.95

opened at 41.852
now closed at 42.233

triggered at 41.852

Flec
Stamp duty was introduced in 1694 to fund a war against France.
Certainly a long lasting war

flec
''I would suggest if they can't afford the stamp duty, then they can't afford the house. ''

I am talking about someone who has hardly any income and no savings (probably an oap), who owns a £500,000 property and would like to move nearer to family, with a suitable property costing £500,000. They are stuck.
It is an outrageous tax.

flec
yes - house purchase expense

flec
''It's a cheap upfront tax in my opinion. I'd rather pay an upfront stamp duty, than a capital gain on the sale of my primary house.''

It isn't a one or other choice.
Most people would rather not pay tens of thousands of pounds to move from A to B. As I said, many are stuck.

flec
''For 2nd homes, I expect the stamp duty can be offset against the tax liability.''
?

flec
is giving £1 Billion away as a lump sum and living for more than 7 years afterwards a tax break for the rich?

are inheritance allowances a tax break? - I would say inheritance tax is a 'steal' - the limit should be a lot higher or no tax at all.
Stamp duty when purchasing a property is an outrageous tax - just for moving from A to B. There will be many that are stuck in properties that they no longer wish to be in, but cannot afford the big hit of stamp duty from moving.

flec
No regular payments have nothing to do with inheritance tax limits or 7 years rule.
Completely out of the scope of those

flec
''Is that still subject to the £325,000 7 year limit?''

each person has that limit - in addition a further £175,000 can be passed to children from property. A married couple can leave £1 million.

It has been a while since the £1 million limit was announced - I think they should have it as a multiple of average house price - lets say x 8

flec
''what's to stop a Billionaire making regular payments of £1 Million plus, a month, under the rule? There must be limiting factors to the rule.''

From HMRC -
''You can make regular payments to help with another person’s living costs. There’s no limit to how much you can give tax free''

flec
Just to add, i also make use of the £3000 and £250 allowances.

flec
''My understanding''

Well you now know better

flec
if i sold a sizeable amount of my shares and gave the proceeds away, that would come under the 7 year rule