Mike Truman
@matruman.bsky.social
Former editor, Taxation Magazine; former LLM (Reader) Church of England; current PhD candidate researching implicit religion and lived theology in The Repair Shop.
Allows them to borrow more to fund buildings, equipment too.
Once succession planning has adjusted there won’t be much extra IHT burden anyway. Next gen will be brought into ownership earlier (good!). What it will stop is the wipe out of accrued capital gains when transferred on death.
Once succession planning has adjusted there won’t be much extra IHT burden anyway. Next gen will be brought into ownership earlier (good!). What it will stop is the wipe out of accrued capital gains when transferred on death.
August 15, 2025 at 7:36 AM
Allows them to borrow more to fund buildings, equipment too.
Once succession planning has adjusted there won’t be much extra IHT burden anyway. Next gen will be brought into ownership earlier (good!). What it will stop is the wipe out of accrued capital gains when transferred on death.
Once succession planning has adjusted there won’t be much extra IHT burden anyway. Next gen will be brought into ownership earlier (good!). What it will stop is the wipe out of accrued capital gains when transferred on death.
Well, I still don’t find him very appealing…
Good luck.
Good luck.
August 5, 2025 at 10:53 AM
Well, I still don’t find him very appealing…
Good luck.
Good luck.
Yes, this. I’ve only seen professional cycling once, when a race came up Guildford High St, and the speed they went was INCREDIBLE. Over setts, too. Camera distance, angles and tracking make it look much more sedate.
August 1, 2025 at 9:18 PM
Yes, this. I’ve only seen professional cycling once, when a race came up Guildford High St, and the speed they went was INCREDIBLE. Over setts, too. Camera distance, angles and tracking make it look much more sedate.
I’ve bounced off it at least three times- never got more than a quarter of the way in. And I was a weirdo who read a lot of Tolstoy in my mid-teens, could cope with Russian names, etc.
July 29, 2025 at 6:38 PM
I’ve bounced off it at least three times- never got more than a quarter of the way in. And I was a weirdo who read a lot of Tolstoy in my mid-teens, could cope with Russian names, etc.
July 29, 2025 at 6:27 PM
The first step is that the main parties have got to stop promising during election campaigns not to increase income tax rates if they get in. The basic rate was 25% during most of the Thatcher/Lawson years IIRC.
July 23, 2025 at 12:22 PM
The first step is that the main parties have got to stop promising during election campaigns not to increase income tax rates if they get in. The basic rate was 25% during most of the Thatcher/Lawson years IIRC.
The one ray of sunshine being that the if the Britannia hotel is housing asylum seekers, it is not snaring unwary travelers to book a stay there…
July 22, 2025 at 7:20 PM
The one ray of sunshine being that the if the Britannia hotel is housing asylum seekers, it is not snaring unwary travelers to book a stay there…
It’s actually the reverse. The higher value, technical, cases do get picked up, because they can be argued from a desk in a big HMRC office. What is not is the small business evasion. As all tax people know, the majority of the tax not collected is in small business.
July 22, 2025 at 1:54 PM
It’s actually the reverse. The higher value, technical, cases do get picked up, because they can be argued from a desk in a big HMRC office. What is not is the small business evasion. As all tax people know, the majority of the tax not collected is in small business.
OK, but that brings us back to @robfordmancs.bsky.social ‘s initial point - there’s no money. And even if there was, there’s no bandwidth.
July 22, 2025 at 1:51 PM
OK, but that brings us back to @robfordmancs.bsky.social ‘s initial point - there’s no money. And even if there was, there’s no bandwidth.
Yes, if the advisers are doing their job, that hit’s already been taken. Not so much an investment as a variable rate (dividend) annuity…
July 22, 2025 at 1:49 PM
Yes, if the advisers are doing their job, that hit’s already been taken. Not so much an investment as a variable rate (dividend) annuity…
TBH I’m sure @danneidle.bsky.social knows exactly why HMRC are not sending someone to stand in the shop and estimate the amounts going through the till. They no longer have the staff and network of local offices that lets them do that sort of compliance work.
July 22, 2025 at 1:47 PM
TBH I’m sure @danneidle.bsky.social knows exactly why HMRC are not sending someone to stand in the shop and estimate the amounts going through the till. They no longer have the staff and network of local offices that lets them do that sort of compliance work.
Ouch… In the equity or the debt?
July 22, 2025 at 1:39 PM
Ouch… In the equity or the debt?
But you’ve said the unencumbered business is worth £40bn. Simplistically, the answer is therefore all of it. Real life is a lot more complicated, obviously, but I think people are missing the fact that although the company may be worth nothing you can’t just nationalise the assets for free.
July 22, 2025 at 1:38 PM
But you’ve said the unencumbered business is worth £40bn. Simplistically, the answer is therefore all of it. Real life is a lot more complicated, obviously, but I think people are missing the fact that although the company may be worth nothing you can’t just nationalise the assets for free.
It would actually be administration rather than receivership - the company keeps trading as its future is worked out, but under the control of the administrator.
July 22, 2025 at 1:33 PM
It would actually be administration rather than receivership - the company keeps trading as its future is worked out, but under the control of the administrator.
I don’t know if those figures are right, but assuming they are and the value of the business unindebted = the value of the debt, the debtors are still going to argue that their debt needs to be repaid, though the shareholders would get nothing.
July 22, 2025 at 1:28 PM
I don’t know if those figures are right, but assuming they are and the value of the business unindebted = the value of the debt, the debtors are still going to argue that their debt needs to be repaid, though the shareholders would get nothing.