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‘I’d rather stay in Communist China than return to inheritance tax Britain’

Does it really give ownership of free houses ? i think govt just allows them to stay. And they have to do a lot to keep it - show they are applying for jobs and what not.


Dude you are being dramatic. what do you think happens in us ? its the land of hire and fire. People lose jobs and they manage. Govt has plenty of benefits. same in most countries. its not only people in UK who lose jobs. how do you think others manage ?

Hi ,
Here’s some info

Requirements for council house


Buying your council house


You can get private accommodation immediately if you qualify as government will pay or part pay so you have a roof over your head if your not able to manage .

ON America , I have lived in New York in the early 2000s only for 7 months but did get to see how the poor and sick are treated . Honestly compared to U.K. it is shameful for a first world country to treat its “ lesser” citizens in the way it does .
 
Why did this guy live in China his whole life? Commie maybe?
 

‘I’d rather stay in Communist China than return to inheritance tax Britain’​

Prohibitively high death taxes are blocking British expats from returning home

ByTom Haynes and Dominic Penna, POLITICAL REPORTER

8 June 2023 • 6:00am

Paul Mosely, a British man living in China

70-year-old Paul Mosely yearns for his native England but baulks at the prospect of his inheritors forfeiting a sizeable chunk of his estate

Paul Mosely is desperate to return to Britain with his wife. After a life mostly spent working in Beijing, China, the 70-year-old yearns for “England’s green and pleasant land”, but the looming threat of inheritance tax is keeping him away.

He says: “We would consider it fair enough to succumb to UK taxes on our pensions and investments, as being a price worth paying, but there is no way my wife, upon her eventual demise, will donate 40pc of her assets to the Government for them to waste.”

The Telegraph is campaigning to scrap the divisive 40pc death duty. More than 50 MPs including Liz Truss and Nadhim Zahawi have now called on Prime Minister Rishi Sunak to abolish it.

Mr Mosely, originally from Essex, first went to China in the 1970s as a PhD engineering student, and like many others in the brain drain of the era, he stayed there as his employer at the time paid his living expenses.

Promotions came thick and fast, and Mr Mosely planted roots. By 2003 he was the general manager of a sustainable mining company based in Beijing.

Mr Mosely married locally in the 1980s, and together he and his wife Xiaomo raised a bilingual family while he invested his earnings without the threat of capital gains tax.

Conscious that any money he left after his death would be taxed at 40pc, Mr Mosely, who is still domiciled in the UK, transferred his money to Xiaomo, now 63.

Ms Mosely has invested the funds, making sure to keep them outside the UK.

Mr Mosely's wife Xiaomo holds the majority of their wealth as being domiciled in the UK means Paul is still liable to be taxed

China has no inheritance tax laws whatsoever. The only taxes that apply after death are to property: a wealth transfer fee that accounts for roughly 10pc of a property’s value. In addition, beneficiaries who sell an inherited house must pay 20pc tax on the income.

Britain’s basic allowance for inheritance tax has been frozen at £325,000 since 2009. This, combined with a boom in house prices over the past decade, has dragged a rising number of ordinary families into paying the tax.

Among Tory MPs urging the Prime Minsiter to axe inheritance tax here in Britain is Craig Mackinlay, the Conservative MP for South Thanet.

He says: “The Treasury’s attachment to inheritance tax is looking increasingly out of step with any internationally comparative tax system.

“It is a tax on aspiration, a brake on growth and not consistent with Conservative values.

“If social democratic Sweden and Communist China can manage without it then so can we. We should be bold enough to scrap it.”

Inheritance tax only applies to taxpayers who are domiciled in the UK – and despite living in Beijing for most of his life, Mr Mosely remains domiciled here.

His estate, divided across property, stocks, and shares, will certainly incur a hefty inheritance tax bill.

“We have three properties in Beijing, one in England, and one in Portugal,” he says.

“I’ve put as much of it in my wife’s name as possible but my worry is that because I am male and older, I will die before she does.”

Mr Mosely says Xiaomo will likely move to Britain if she is widowed. He says: “By the time she dies, she could have been living in the UK for 15 years, and then she’ll be subject to inheritance tax.”

In the meantime, Mr Mosely says he is miserable. Beijing has lost its appeal now that he is retired – and he wants to live out the rest of his years in Kent, where he and his wife own a house.

“I don’t see anything wrong with paying income tax on pensions – that’s fair do’s. But if inheritance tax is going to keep us away then the UK doesn’t even get the other tax.”

Good Riddance to UK. I can understand why Chinese and South Asians would dislike UK. Yes that country wronged our ancestors.
Good Riddance to shit that is known as UK.
 
China also doesn't have property tax, the funny thing is in UK and US it seems that people can own lands but actually they don't , In China people don't legally own lands but they do.

Quite the opposite. The people who live in the towns actually own the towns (not the government) and vote for how money should be spent to upkeep it. They then pay for it with property taxes.

This is why some towns are more popular than others.

Some want to live in a young town where money is focused on schools while others in towns where money is focused on senior services.

Some towns vote that they want more businesses and multi-unit apartments while other towns say they don't want them.

Some towns vote to squeeze houses closer together while others vote to keep them far apart.

You choose the combination you want to live in and exactly how the land is used.
 
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Inheritance tax target the middle class. The rich in white man land do pays 0% inheritance tax. They set up their own charity and put family members to manage the charity,

Let say Gate Juniors next time open a garbage start up. The charity can from the start invest millions into the start up.

Or Gate Juniors next time open a art shop selling some vandalism at 100k a piece. The charity will buy 100 pieces.
 
Inheritance tax target the middle class. The rich in white man land do pays 0% inheritance tax. They set up their own charity and put family members to manage the charity,

Let say Gate Juniors next time open a garbage start up. The charity can from the start invest millions into the start up.

Or Gate Juniors next time open a art shop selling some vandalism at 100k a piece. The charity will buy 100 pieces.

I have to agree with you that I feel the majority of the art market is a scam to hide and launder money.

Even large financial companies are in on this. They line the walls of their offices with artwork that is ridiculously bad but I'm sure it was bought as a cover excuse to payoff somebody off for something. People actually request that some artwork be moved because it is so hideous it impacts their job.

Honestly I think it works something like this.
Company: We need this "Y"
Scammer: There's an artshow tomorrow..why don't you buy a painting by "Z" for a million and then we can talk.
 
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Tax dodging cunt .

Free Doctor visits , medications , dental , eye care basically anything for him to grow up healthy & strong , free schooling until university so he can have the future he wishes , the job he wishes & the wages he wishes . help with training for him and all he’s family all paid by us the taxpayers . NHS free from cradle to grave but this despicable bastard doesn’t want to pay back . One word WANKER

Dreaming about England’s green & pleasant land , you stay there old man & rot .

Disgusting .

He’s wife can fucking stay in China & rot also
Tax dodging bastards


Of all the taxes imposed on us, Inheritance Tax is the meanest tax of all, taxing savings where tax has already been paid. It is simply theft of dead people's money sanctioned by the government for the benefit of the government
 
Of all the taxes imposed on us, Inheritance Tax is the meanest tax of all, taxing savings where tax has already been paid. It is simply theft of dead people's money sanctioned by the government for the benefit of the government
before i had kids my mentality was

“i need someone of my own genes that i can leave my wealth with”

if world goes towards removing this incentive then birthrates will drop further in developed countires
 
There are also "real rulers" in white man land.

There is big inherently risk of such charity funds. What happen is instead of benefitting your scion, your fund managers can steal the monies. Also your fund managers can rebel, and when you ask them to invest in company XYZ (your son company), your managers could report to police.

There must be discipline and fear against the fund managers.

The white rulers have their extra judicial enforcement team. These messy things dont go to the court. Very often rogue fund managers will see their family members and themselves killed.

The police will just report the murder as suicide.

Large numbers of elite Western bankers died in mysterious ways especially during financial crisis.

The western inheritance system is a system of murder, deprave, inequality, exploitation. The sworn aim of such system is to perpetuate dynasty of ruling oligarch.
 
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Quite the opposite. The people who live in the towns actually own the towns (not the government) and vote for how money should be spent to upkeep it. They then pay for it with property taxes.

This is why some towns are more popular than others.

Some want to live in a young town where money is focused on schools while others in towns where money is focused on senior services.

Some towns vote that they want more businesses and multi-unit apartments while other towns say they don't want them.

Some towns vote to squeeze houses closer together while others vote to keep them far apart.

You choose the combination you want to live in and exactly how the land is used.

Exactly how it should be , same as in U.K.
my tax bills are eye watering especially now , but we’re in it together .

You have many who milk the benefits they receive which they are not entitled to but it keeps them down & stuck in the handout system . You work hard and contribute to society you get your rewards , your children & family get the rewards .

There are sayings throughout the second & third world “ don’t kill your self over work “ but in U.K. the saying has always been “ hard work never killed anyone “ .

That is a big difference in how to go about and live your life productively .

Of all the taxes imposed on us, Inheritance Tax is the meanest tax of all, taxing savings where tax has already been paid. It is simply theft of dead people's money sanctioned by the government for the benefit of the government

I disagree as upto £350,000 property for single person isn’t taxed or £650,000 for a couple
Above this threshold you pay which Imo is fair more than 93 per cent of estates are not having to pay it and it raises more than £7billion a year to help fund public services such as the NHS and schools.
 
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The Treasury has defended the tax, saying that just 7% of estates are required to pay the tax.

And it pointed out that people can pass on estates of up to £1 million to their spouse or civil partner without paying any inheritance tax.

Labour MP Angela Eagle posted on Twitter: "Nadhim Zahawi's family might gain up to £40m on his reported £100m fortune if inheritance tax is abolished - little surprise he’s advocating it - but it certainly won’t help the majority."

Meanwhile Mr Rees-Mogg also wants to see the tax scrapped, saying: "Death duties are an inefficient form of taxation that is unfair and economically damaging.

Unfair because it is a double tax on already taxed assets. Economically damaging because it leads to the misallocation of capital, as investments are made to avoid a distortive tax rather than to maximise investment return."

A Treasury spokesperson said: "More than 93% of estates aren't expected to pay any inheritance tax in the coming years - however the tax still raises more than £7billion a year to help fund public services like the NHS and schools.

Estates of surviving spouses and civil partners can pass on up to £1 million without an inheritance tax liability - significantly more than the average UK home of £285,000."

And not all Tories agree with raising the tax.

Simon Clarke said that thresholds should be increased, but stopped short of calling for abolition.

He posted on Twitter: "We should raise the inheritance tax threshold, which catches so many families who aren’t “rich” in any meaningful sense. £500k each and £1m for a couple would be fairer."


Who pays inheritance tax?

Under current rules there's normally no Inheritance Tax to pay if either:

  • the value of your estate is below the £325,000 threshold
  • you leave everything above the £325,000 threshold to your spouse, civil partner, a charity or a community amateur sports club
If you give away your home to your children or grandchildren your threshold can increase to £500,000.

How much do you pay?

Currently the standard Inheritance Tax rate is 40% - which is only paid on the part of someone's estate that’s above the threshold.

For example, if your property is worth £500,000 and your tax-free threshold is £325,000, Inheritance Tax charged will be 40% of £175,000.

The estate can pay Inheritance Tax at a reduced rate of 36% on some assets if you leave 10% or more of the ‘net value’ to charity in your will.



I think it’s fair for the society we live in .
 
The white rulers have their extra judicial enforcement team. These messy things dont go to the court. Very often rogue fund managers will see their family members and themselves killed.
.
LOL!

Luckily corruption and people disappearing never happens worldwide in non-white countries....YEAH RIGHT!
 
before i had kids my mentality was

“i need someone of my own genes that i can leave my wealth with”

if world goes towards removing this incentive then birthrates will drop further in developed countires


Why should someone who has worked and paid taxes all their life so they can leave their children the rewards of their hard work give the government anything..? It's theft !!!
 
Why should someone who has worked and paid taxes all their life so they can leave their children the rewards of their hard work give the government anything..? It's theft !!!


In the US it’s called “sucking up to the Liberals” who think it is racist to allow parents to hand down money as inheritances.

White College Graduates Are Doing Great With Their Parents' Money​

 

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