Are family businesses being destroyed? | The Daily T Podcast

Why is she still in the job,she is a cheat.
She ruins peoples lifes.
Most politicians never ever had a Job

unfair to everyone in UK basically theft from corpses which should've gone to family members. many countries do nt have this insane tax yet we continue it. Disgraceful

Exactly why do we need a government?

Is this a paid promotion?

Australia doesn’t tax the dead.

TAXATION IS THEFT,,,,,,a statutory act is a contract not a law........

The most unfair tax that there is ! My family have more than paid enough inheritance tax in the past !

Rich folk creates fund. Inharitance tax for plebs.

Not just Family Businesses being destroyed but actual FAMILIES being split up . LABOUR TOTAL lack of UNDERSTANDING of how rural UK works .

this guy employs 150 people also got the other problem of ni

Drop the rate and lose the loopholes so everyone has to pay it, not just the middle class - but it is fair. At the end of the day its unearned income.

What a brilliant and articulate guest. Top performance.

Yea, it is a triple tax.

Of course it’s unfair like most taxes

Inheritance tax and tax on our pensions is governmental theft ... pure and simple!

Inheritance destroys hard work and locks in wealth into the top few percent. No amount of hard work can help those without a wealthy parent now bridge the gap, so it destroys ambition and optimism. I would like to live in a meritocracy, where hard work and graft pays, with low taxes on the working person. Inherited wealth destroys the incentive to work, for as we are seeing, the bank of mum and dad has made property almost unaffordable for those without such support, no matter what they earn. Example, the house I first bought in 2001 was £110K, which my partner and I could afford on a joint income of £35K using a 3.5 times multiplier. The same house is now £400K, which would require a couple without deposit to have an income of £115K on the same 3.5 multiplier. Therefore the only people that can afford a house are those with inherited wealth/wealthy parents. Hard work just won't cut it these days, and that is a terrible thing.

Same discussion is going on in germany. The problem is that the same can happen to companies worthi billions. then people are thinking very different regarding the inheritance and the taxes.

Totally iniquitous as the really rich can afford to pay accountants who will find ways to move their assets off-shore and out of the reach of HMRC. It's those of us that work hard, save regularly and generally try to be self sufficient who get penalised. House prices make it quite likely that a person who has worked their whole life, earned modestly, spent carefully and invested their savings will quite possibly have assets over £500,000. IHT will be levied on their estate.

The inheritance tax is daylight robbery - it's not the government or the wider public's money. Vote Labour out - this will be reversed.

No

Getting rid of it is a disaster. Great way to make sure the rich get richer. The US is building a Russian style oligarchy with tax cuts.

They’re not labour they’re communists

Any tax is unfair if any of the population does not pay it. Why should rich very rich people be exempt from inheritance tax like King Charles. Why should someone be able to pass a law in parliament to exempt them from paying tax on their massive pension fund like Kier Stalin. It’s double standards and people who have worked hard get taxed the most….tax should be fair and transparent. People hiding in offshore accounts should be disqualified from having businesses in the UK or the laws should be changed to take into account these tax loopholes.

Yes

Don't forget she lied on her CE for maths.

How can women go to a international meeting when they now what she is . If she does this country is looking like a fool like that of of USA not long ago but not no more.

What is ridiculous is these changes would be circumvented by all the super-wealthy gentry estates because of their "historical" status. IHT should be abolished altogether, this government has no idea, taxes at highest level since WW2 and they increase them thinking we are going to get growth.

If family businesses are forced to sell, who is going to buy? Certainly not another private family. So they will have to sell for far less and to a large business that is probably foreign owned and will then charge more for their goods and services and monopolise the business. All wealth tax is wrong. Governments can tax profits and purchases if they must but please stop the grave robbing.

All inheritance tax should be abolished, not just for farmers!

Yes, no one should be paying it.

It is not unfair, it is IMMORAL.

Supermarkets are killing farming have been for years, this is a distraction from the real issue. That tax should be paid, and supermarkets should put farmers ahead of profits. The NHS needs money, the tories left an empty pot.

any tax on a persons belongings that he or his family has worked for is thievery

This whole matter about family farms smacks of communism. Getting rid of family farms is another way of controlling food production and this Labour government certainly want control and do not like individualism but want the “ collective”

its just a way for the governmenrt to get hold of more of our money none of them have ever had a proper job.

Nobody should pay any Inheritance Tax they have already been taxed on it, only idiot Left Wingers could possible think this was anything like good. It takes decades to build businesses they don't have the benefits of their noses in the Government trough.

Great so we will import every thing and not have any internal ownership, owned from a far. 🙄

what about corporate tax rates and offshoring profits?

Taxes is a lifetime loyal friend,
no one without a best buddy.

Laws like these expose how tax laws catch honest taxpayers.
All the others( corporates) hide money, profits and themselves behind elaborate company structures and offshore accounts to avoid all fees and taxes.
Taxes like these, just end up closing small businesses and allow corporate takeover and thetefore less tax.

Stupid question. Taxing the dead is rape

LABOUR PARTY IS COMUNIST PARTY
EVERYONE WHO STAND AND SUPPORTING LABOUR PARTY IS A COMUNIST
WAKE UP

If RESPECT promises to abolish it , they’ll have millions of Tory votes - it’s an evil pernicious tax. Tax on bloody hard earned money that’s already been taxed- so unfair

Of course it is unfair, inheritance tax is tax on money that has already been taxed. Be a farm, a business, a stately home or a family home. The money used to build these has already been taxed at least once in many cases more than once. Very few family homes cannot be purchased without at least two incomes both of which have already paid income tax to pay the mortgage to by the property.

Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery. Winston Churchill.

Someone works their entire life being taxed every step of the way. When they pass and leave something for the family should that be taxed again? No. It's already been taxed...well unless you're a politician in which case you don't have to worry about paying your share

Any family business worth in the millions will be affected. Consider hotels, shops, funeral directors, car dealerships, construction companies, estate agents, manufacturing businesses, logistics companies, healthcare clinics, wholesale distributors, engineering firms…

Many of those will have to shut down because they cannot get hold of enough cash to pay off the IHT bill, or because they become unviable after selling off 20% of their assets.

A very interesting podcast. It seems we’re heading for lower growth with higher costs which will fuel inflation and interest rates.

Very interesting,just proves how incompetent politicians are, don't understand a problem, therefore legislation is flawed