From: "Fred" 
Newsgroups: uk.finance
Subject: Re: Inheritance Tax
Date: Fri, 8 Oct 2004 14:42:27 +0000 (UTC)


"Tim"  wrote in message
news:ck5uvl$os5$1@titan.btinternet.com...
> "Fred" wrote
> > You seem to regard taxation as some sort of one-off entry charge.
>
> Where on earth did you get that from?

You seemed to be implying that Mr A's mum had bought a get-out-of tax card
for all future generations of the A's so long as they just continued to live
off mum's legacy.

>
> "Fred" wrote
> > ... it's only fair that it should be related to ability to pay. In my
> > book that means that we should tax income whatever it's source.
>
> And how do you calculate "income"?
>
> If you use your "change in net assets" method - then it certainly is *not*
> "related to ability to pay" !!
>

How so?
Maybe you're thinking of liabilites as well as income - I'm certainly not
arguing against all tax credits.
Do you have any examples, perhaps I've missed something.

Fred