The Politics Thread

[TANGODANCER]

The most recent advice a friend of mine received was just that. If they are living in a house and paying nowt to do so, there is a benefit. I think this is because if they were to be paying rent it would become a taxable income for someone else. As I say, people get payed money to be good at this sort of thing, its worth speaking to one of them.

Your info on this is spot on and is what underpins my question.

Where the fxxk did that expression come from except in building foundations? We used to just say reinforces or supports.

get yourself a thesaurus Tango - it'll enrich your language usage!

It's all Greek to me.

[Hoboh]

Well the big day is nigh!

Who is winning and losing? Who gets the hoboh vote?
Gritty Gordon seems to have flushed himself down the pan,
Nice Nick looks and sounds ok (apart from all the hand wringing that is) but you cannot debate with an incoming nuclear missle and there are too many folk n this island already, it needs regulation.....

So
Its a straight fight between Davy boy and the anti Europe UKIP for me, the conservatives have been too quiet on this subject and that is a little alarming.

A Brit parliament for Britain and sprouts for Brussels!

[thebish]

Well the big day is nigh!

Who is winning and losing? Who gets the hoboh vote?
Gritty Gordon seems to have flushed himself down the pan,
Nice Nick looks and sounds ok (apart from all the hand wringing that is) but you cannot debate with an incoming nuclear missle and there are too many folk n this island already, it needs regulation.....

So
Its a straight fight between Davy boy and the anti Europe UKIP for me, the conservatives have been too quiet on this subject and that is a little alarming.

A Brit parliament for Britain and sprouts for Brussels!

if that's your choice - go UKIP!

[Peter Thompson]

DC's on a role, he's had a good week - possibly now a 9% lead according to most polls today...its got to be the tories

Several others at work and at home (inc myself) have had a similar decision to make UKIP or Tory...hopefully in the future but for now UKIP would unfortunately be a wasted vote

[Hoboh]

Well the big day is nigh!

Who is winning and losing? Who gets the hoboh vote?
Gritty Gordon seems to have flushed himself down the pan,
Nice Nick looks and sounds ok (apart from all the hand wringing that is) but you cannot debate with an incoming nuclear missle and there are too many folk n this island already, it needs regulation.....

So
Its a straight fight between Davy boy and the anti Europe UKIP for me, the conservatives have been too quiet on this subject and that is a little alarming.

A Brit parliament for Britain and sprouts for Brussels!

if that's your choice - go UKIP!

The way I see it defence, tax, immigration, Europe and law and order are the real biggie's here, whoever gets in the economy is going to give them sleepless nights and to be fair none of them seem to have big enough balls to tell how bad it really is and come up with proper tho' painful solutions.

[thebish]

DC's on a role, he's had a good week - possibly now a 9% lead according to most polls today...its got to be the tories

Several others at work and at home (inc myself) have had a similar decision to make UKIP or Tory...hopefully in the future but for now UKIP would unfortunately be a wasted vote

hence my suggestion for hoboh if it was a choice between tory and ukip!

[thebish]

whoever gets in is gonna shag us royally for 5 years.....

[Bruce Rioja]

whoever gets in is gonna shag us royally for 5 years.....

Has the Catholic Church proffered a candidate? Crikey, some staying power those boys, I'll give 'em that!

[Worthy4England]

whoever gets in is gonna shag us royally for 5 years.....

Has the Catholic Church proffered a candidate? Crikey, some staying power those boys, I'll give 'em that!

I'll actually be fairly stoic about a Tory win.

We'll be able to point out their incompetencies for the next 5 years.

[William the White]

whoever gets in is gonna shag us royally for 5 years.....

Has the Catholic Church proffered a candidate? Crikey, some staying power those boys, I'll give 'em that!

I'll actually be fairly stoic about a Tory win.

We'll be able to point out their incompetencies for the next 5 years.

I'll be pretty despairing if Toffs plc get in. I'm really hoping for a hung parliament, electoral reform and an end to monopoly government, and the chance to vote positively.

[Prufrock]

whoever gets in is gonna shag us royally for 5 years.....

Has the Catholic Church proffered a candidate? Crikey, some staying power those boys, I'll give 'em that!

I'll actually be fairly stoic about a Tory win.

We'll be able to point out their incompetencies for the next 5 years.

That's a very grey lining to a very dark cloud.

[William the White]

whoever gets in is gonna shag us royally for 5 years.....

Has the Catholic Church proffered a candidate? Crikey, some staying power those boys, I'll give 'em that!

I'll actually be fairly stoic about a Tory win.

We'll be able to point out their incompetencies for the next 5 years.

That's a very grey lining to a very dark cloud.

Worthy may well be arming himself against the expectation of defeat... we bolton fans know how to do that...

[William the White]

DC's on a role, he's had a good week - possibly now a 9% lead according to most polls today...its got to be the tories

Several others at work and at home (inc myself) have had a similar decision to make UKIP or Tory...hopefully in the future but for now UKIP would unfortunately be a wasted vote

Go with your principles! Vote UKIP!

[Hoboh]

DC's on a role, he's had a good week - possibly now a 9% lead according to most polls today...its got to be the tories

Several others at work and at home (inc myself) have had a similar decision to make UKIP or Tory...hopefully in the future but for now UKIP would unfortunately be a wasted vote

Go with your principles! Vote UKIP!

Surely with your sense of justice and fair play William, you cannot still be considering voting for a two faced, dishonest, unelected Prime minister or his party?
In true big Mac style, "You cannot be serious"!
Hobo has in the past scrawled his X next to the Lib Dems because I actually liked Paddy "Pantsdown", a man who seemed to be just an ordinary bloke who saw things and told it as it was, it's the more lunatic policies in the "hidden agenda" of the old liberal party that worry me! I'm surprised Harriet is not affiliated to them.

[thebish]

DC's on a role, he's had a good week - possibly now a 9% lead according to most polls today...its got to be the tories

Several others at work and at home (inc myself) have had a similar decision to make UKIP or Tory...hopefully in the future but for now UKIP would unfortunately be a wasted vote

Go with your principles! Vote UKIP!

Surely with your sense of justice and fair play William, you cannot still be considering voting for a two faced, dishonest, unelected Prime minister or his party?
In true big Mac style, "You cannot be serious"!

Prime Ministers are not "elected" - they are chosen by their party. Constituency MPs are elected. Calling a PM "unelected" means nothing.

in what sense is Brown "two-faced and dishonest" compared to anyone else?

[CAPSLOCK]

Hobo...don't waste your vote

Vote Tory, you know it makes sense

They're the only ones who can get us out of this red mess....afuckinggain

[CAPSLOCK]

in what sense is Brown "two-faced and dishonest" compared to anyone else?

So, the best you can come up with is that they're all the same

[thebish]

in what sense is Brown "two-faced and dishonest" compared to anyone else?

So, the best you can come up with is that they're all the same

nope - didn't say that at all - just asking hobo why he singled Brown out as "two-faced and dishonest". (and "unelected")

[William the White]

in what sense is Brown "two-faced and dishonest" compared to anyone else?

So, the best you can come up with is that they're all the same

nope - didn't say that at all - just asking hobo why he singled Brown out as "two-faced and dishonest". (and "unelected")

Proven to be two-faced in the 'bigoted woman' remark. But it's clear that most of them are hiding more than they are revealing.

Hoboh - I'm voting against the Tories rather than for anybody. Labour in Bolton NE. If I lived in Tunbridge Wells probably Lib Dem. I don't want a Labour majority, though obviously that's infinitely preferable to a Tory one. I want the kind of distribution that forces a referendum on PR. Then I could vote 'for'.

[mummywhycantieatcrayons]

The most recent advice a friend of mine received was just that. If they are living in a house and paying nowt to do so, there is a benefit. I think this is because if they were to be paying rent it would become a taxable income for someone else. As I say, people get payed money to be good at this sort of thing, its worth speaking to one of them.

Your info on this is spot on and is what underpins my question.

There are two elements to the liability to pay tax (of one sort or another). One is the capital gains element, the other is around ongoing benefit and income tax.

Transferring the property at zero consideration, would potentially be liable for a Capital Gains Payments or IHT - one way round this used to be to transfer it in stages under the CGT threshold (but that takes some time) as it has to be done in annual stages under the GCT threshold. This used to effectively avoid the CGT element that would be due (assuming the whole value of the property was transferred before they died). I think this is still potentially open as an avenue to explore.

It is not a benefit in kind. Benefits in kind are those received by an employee from an employer. It's not a benefit to you as the lessor, so carries no Tax implications (I think the taz implication sits with the transferor). It could have implications if parents were claiming state benefits of any kind, that were income related and required the free rent benefit to be factored in. It would under fairly recent legislation (in the even that it had been gifted) be subject to POAT (Pre-Owned Asset Tax) which was specifically designed to stop free gifts of houses to children (and/or free gifts of the money or other assets to pay for the house to children) and thus avoid IHT.

I think there are probably still some loopholes, but it would require careful research and planning.

http://www.guardian.co.uk/money/2010/ap ... le-for-tax

http://www.telegraph.co.uk/property/pro ... s-Tax.html

http://www.telegraph.co.uk/property/pro ... perty.html

Ok, I didn't mean to endorse all of LK's terminology.

Ignoring CGT as a separate discussion, the position for IHT is that a 'gift with reservation of benefit' (GWR) will not be treated as being a genuine gift at all, for the purposes of avoiding inheritance tax (which can be done by giving something away and then surviving for 7 years, after which no IHT is payable on the transfer). This is s.102 of the Finance Act 1986.

One way of getting round the GWR rules is for parents 'giving' their houses to their offspring to then pay them a genuinely commercial rent. Otherwise, the gift will simply be ineffective and IHT will be payable as if there was no gift at all.

It's true that there is now another scheme that tackles other avoidance schemes, the POAT that Worthy mentions, but the tax law course I have taken didn't really go into any detail on that!