Making the news today....

[Squaredy]

12 minutes ago, sime42 said:

 

So the Prosperity Institute.

Controlled by four directors, only one of whom resides in the UK. Predominantly funded by a Dubai-based investment company that also funds GB News. (There seem to be questions around the owner of the investment group's links to Russia.) The balance of donations to the institute facing some controversy over funding transparency. 

 

This all seems like exactly the shadowy influence and dirty money that Mr Booby is trying to tackle. The "large group of pieces  who are not always visible in the game but are able to manipulate both the main players and the pawns, and even change the board entirely to a completely different game, but usually with the same goal." That you were referring to in this post:-

 

 

Us common people are all in the same boat, we're all on the same side. We're being played by the mega rich and powerful. As you say. 

 

 

Am I missing something?

 

 

 

Yes quite a lot actually.  I agree we are all being played to an extent.  But also many of us are playing.  
 

When someone like Elon Musk creates a company and does very well (let’s remember it will do well only if he provides something many people are willing to pay for) and creates tens of thousands of extremely well paid jobs, is that playing us all?

[Oldfeller]

35 minutes ago, Squaredy said:

Well he should have said that!  He said “Millionaires and Billionaires”.  Many millions of people in the UK are millionaires.

 

And you need to remember that the reason for paying no Inheritance tax is that the assets are in trust and that instead the trust pays other taxes.  Namely the trusts pay 6% tax every ten years.  Not just on inheritance but potentially several times in an average lifetime.

 

So as usual it is a myth that the country is awash with rich people paying no tax.

 

My landlord is also worth billions and when he died and his son inherited the titles and estates the IHT bill was over £70 million.

The Duke of Westminster's inheritance of the multibillion-pound Grosvenor estate, often reported around £9-£10 billion, was largely exempt from the standard 40% UK inheritance tax due to the use of complex, long-established trust structures. These trusts hold the assets, meaning they do not pass directly to the heir and therefore avoid immediate, massive death duties. 

Key details regarding this inheritance:

Trust Structure: The estate is managed by trustees, separating legal ownership from the family, which keeps the assets outside individual, taxable estates upon death.

Periodic Charges: While avoiding the 40% inheritance tax, such trusts are subject to a 6% "periodic charge" every 10 years, which acts as a form of tax, though it is significantly lower than standard inheritance tax.

Estate Protection: These structures are designed to maintain the integrity of large, historical landholdings and businesses across generations rather than to specifically evade taxes.

Legal Position: The use of trusts in this manner is legal, and the Grosvenor estate is considered one of the highest taxpayers in the UK through income tax, corporate tax, and other levies, despite avoiding inheritance tax

[Squaredy]

23 minutes ago, Oldfeller said:

Grosvenor estate is considered one of the highest taxpayers in the UK through income tax, corporate tax, and other levies, despite avoiding inheritance tax

Total parasites!  Get rid of them!

[Mark J]

1 hour ago, Oldfeller said:

The Duke of Westminster's inheritance of the multibillion-pound Grosvenor estate, often reported around £9-£10 billion, was largely exempt from the standard 40% UK inheritance tax due to the use of complex, long-established trust structures. These trusts hold the assets, meaning they do not pass directly to the heir and therefore avoid immediate, massive death duties. 

Key details regarding this inheritance:

Trust Structure: The estate is managed by trustees, separating legal ownership from the family, which keeps the assets outside individual, taxable estates upon death.

Periodic Charges: While avoiding the 40% inheritance tax, such trusts are subject to a 6% "periodic charge" every 10 years, which acts as a form of tax, though it is significantly lower than standard inheritance tax.

Estate Protection: These structures are designed to maintain the integrity of large, historical landholdings and businesses across generations rather than to specifically evade taxes.

Legal Position: The use of trusts in this manner is legal, and the Grosvenor estate is considered one of the highest taxpayers in the UK through income tax, corporate tax, and other levies, despite avoiding inheritance tax

Cheers Grok.