Tory Leadership Race

[IT Minion]

My heart bleeds for the poor inept millionaire inheritors of the UK. We should definitely plan for them and make sure they are supported through their troubled times.

This should be the main focus of the leadership candidates, no question.

 

[Brigadier]

Imagine Carman Senior leaves you his £20M international car recovery empire. It is made up of many fixed assets which cannot easily be liquidated, most of the value is the good will and strong brand and performance of the company derived from the balance sheet. Previously you may have qualified for some exemptions (e.g. BPR), but now we have new leaders with new ideas and they want their money. You're a high earner, so the government decide you should pay 45% IHT. You cannot find a buyer for the business and instead opt to defer the tax. Word gets out that Carman Junior is not the business mastermind that Carman senior was, costs mount, customers walk, suppliers take the pi** and slowly the value of the business falls. After a few years the business is worth £12M. The problem Carman Junior has is that he owes 45% of £20M + interest at 7.5%.

I think you can manage the sums to see that you are short a few mill.

Now imagine a software company or high tech start up, these firms can drop 50% in a few weeks.

Sounds like it wasn't worth the claimed value.

This^^^^^

 

[motorbiking]

There are plenty of people whining that they might have to pay some tax.
And so are the professionals who are paid to look after their interests.

Who could have seen that coming?

win / win for the wealthy. I guess the government will have to keep them happy otherwise they'll start having to buy their own holidays and clothes.

 

[motorbiking]

This^^^^^

Tell that to the tax man.

It's of course nonsense. I can think of dozens of businesses that have gained and lost 50% in a matter of weeks not years.

 

[noseall]

The governments goal was to raise taxes to pay for things, not export millionaires, with their taxes being paid (or not) in other countries.

Not going well so far.

Non-taxpaying millionaires are going to take their dom status out of the UK? They can float around aimlessly on their big, tax-payer funded yachts.

Boo fekkin hoo. Close the door, eh.

 

[noseall]

My heart bleeds for the poor inept millionaire inheritors of the UK.

Fúck 'em. Fúck em all.

 

[carmanmemoranda]

why do you have cash flow problems? (genuine question)

I don't. But it's a major problem when starting out.

But I always have a lot of money spent out in parts, tools, materials, that never really sits in my bank.

Over £1000 in oils alone for example.

 

[Brigadier]

Tell that to the tax man.

It's of course nonsense. I can think of dozens of businesses that have gained and lost 50% in a matter of weeks not years.

Businesses don't gain or lose 50% of real - intrinsic - value in a matter of weeks.

So your hypothetical business wasn't worth your claimed "value" .

As Carman already said.

 

[JohnD]

Non-taxpaying millionaires are going to take their dom status out of the UK? They can float around aimlessly on their big, tax-payer funded yachts.

Boo fekkin hoo. Close the door, eh.

The very rich look for places that gather enough tax to have good infrastructure, public health, educated workers, good private clinics, art galleries, fashionable shops, private schools, fine restaurants, a reasonably honest police force and legal system, little organised crime, fairly safe roads, and not much sewage in the rivers.

Low tax is not the main driver.

Even motorbiking has not left yet, though we will raise a cheer when he does.

 

[Andydevon]

So if a company with a share price of £100 suffers from an accounting scandal over their reported profits and the share price dops to £5. How does that affect the company value?

 

[blup]

Back to the OP it’s got to be Jenny, he’s out manoeuvring them all.

 

[fillyboy]

Back to the OP it’s got to be Jenny, he’s out manoeuvring them all.

Cleverly was the clear winner in todays speeches.

 

[JohnD]

The elderly membership of the Tory party are not interested in speeches.

 

[blup]

Bobby J has a sharp calculated approach, and a PR background, and would get under tne PM’s skin at question time, in much the same way William Haig riled Bliar

 

[noseall]

Cleverly was the clear winner in todays speeches.

Some say you are wrong too, giving Kimi the nod there.

I think it's the one that mentions The Witch the most that gives them all a hard-on.