In Kemi ‘Badenough’s’ closing speech at the Conservative Conference in Manchester this year, she ‘set the hares running’ by talking about abolishing Stamp Duty Land Tax (SDLT) if her Party were to gain power at the next Election. Hope springs eternal! Continue reading
Yawn and stretch, the government have appointed a new housing Czar in place of the thoroughly discredited Angie Rayner, former Deputy Prime Minister, who no doubt is ‘licking her wounds’ for having been caught with her ‘fingers in the till’. Continue reading
The first rumour was about an Exit Tax to try to stem the torrent of some 16,000 non-dom millionaires fleeing these shores for more welcoming fiscal climes elsewhere in the world, which would be as effective as a ‘perforated male contraceptive device’!
The second rumour is about getting rid of the tax free seven-year gift allowance, which bypasses Inheritance Tax (IHT). This would also be as useful as a ‘chocolate fireguard’ to the accident-prone government, since everyone would stop gifting assets to their children and therefore, no money would be raised as a result. Yes, it would add to the IHT take in the end, but this could be in 10-20 years time and certainly not much use to an incompetent Chancellor, urgently trying to raise some emergency monies, to fill the £50billion hole in her autumn Budget. Continue reading