View Single Post
  #27273  
Old 22.04.2020, 17:19
Guest
 
Posts: n/a
Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

Quote:
View Post
Fund is liable to CGT with lower allowance than an individual. IHT is paid at 40% at the death of the life Tennant. All income received or not is liable to tax in the UK.

They pay the tax, it does not matter where the income came from.

Only a trust fund babe, or someone whose family has Money, would say that...

Why do you keep telling me about taxation in the UK? I know this stuff. My point was, to kind of follow a thread from yours is, that trust funds are not earned, they are bestowed/inherited. The beneficiary pays tax but the funds they pay the tax on have not been earned by them. Whatever they left with, after CGT, IHT etc ( and you're not telling me they won't have taken advantage of all kinds if fancy write-off footwork) is, essentially, free money. Money they, personally, have done nothing to earn. Apart from the being born thing.


Quote:
View Post
Whoosh.
If you say so.
Reply With Quote