Quote:
Originally Posted by Damien
HMRC can investigate anyone whose deemed to have tried to shift their assets ahead of death/court cases/etc to avoid paying tax or penalties. I think any 'gifts' from parent to child made 5 to 10 years before the parents death can be deemed liable to tax. I imagine they can do the same here. The details of course would need to be worked out. There will now be an army of lawyers looking for such loopholes.
As for paying into the system, well a lot of us do. We still run deficits and taxation isn't a savings account. Education is expensive, healthcare is expensive, social care is expensive and pensions are very expensive. If we had a system whereby your contributions during your lifetime were the basis for your pension and social care needs in old age then a lot of people who 'paid into the systems all their lives' would be getting less, not more.
This is a fair policy in my views. It doesn't mean old people will lose their homes but it's a solution to the crisis in social care. We need to pay for social care somehow and it seems fair to me that recipients who can afford it contribute to some of the cost from their existing assets after their death.
Where else would the money came from?
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Waits for the usual cut the foreign aid budget
