Thursday, April 06, 2006

Who 'Trusts' Gordon Brown ?

True to form the real impact of the Budget is only now coming to light. See this article on taxation of trusts in the Daily Telegraph today. Yet again they try to hide negative consequences of the budget in the small print.

My wife and I have set up a trusts in our wills to provide primarily for our autistic child ( though its not clear how badly he will be afflicted in adulthood - we need to make provision now). It cost me lots of time and some money - which is in short supply as I'm setting up a new business. I have no idea if Gordon Brown's movements on trusts will impact us, but of course fear the worse. The money we would have provided would have removed from any charities or the state the need for some support - but that's not the way Gordon likes it. We are all to be their clients in the great socialist care home.

By the way we are not unusually wealthy - we just have a house in the south east of England and hence inheritance tax (maybe best called Southerner Tax) will bite hard in the event of a double death of both my wife and myself.

I will loose time, and maybe money if I seek advice, which is needed else where right now. And our child may loose some of the provision we aimed to provide them if the worse comes about. Still its nice to know that the Chancellors pension is safe with the extra money the government votes for the MP's pension scheme.

Dear David Cameron,

Its time to make the career politicians share the pain being handed out by HM Treasury and its actions. Cut the number of MPs ( as you have suggested ). Make MP's finance their own pensions and set tax back onto an honest basis again - maybe income tax needs to rise if stealth taxes are removed - but the population suffers most from stealth taxes as they don't even realise their losses until its too late.


Man in a Shed.

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