"Larry" wrote in message
...
"Dennis Pogson" wrote in news:wW0Dk.154590
:

That is what living in rip-off Britain is like just now.

Dear UK taxpayer:

Please sit and read this document concerning taxation of the multi
trillionaire foreigners in the City of London Corporation.

http://www.parliament.uk/documents/u...tyofLondon.pdf

If your blood doesn't boil, you have none....

Explanation for US citizens -

Definition of an RND - A foreigner who lives here in UK but elects not to
pay UK taxes, as distinct from we poor buggers who were born here but cannot
so elect not to pay taxes.

The present so-called Government recently came under pressure to increase
the threshold at which Inheritance Tax (introduced to tax the very wealthy
on death of said very wealthy, and set at 40% of inherited asset valuation)
came to be due. This tax used to be called Death Duty until the lords and
ladies of the manor found a way to raise the tax due by filling their
mansion grounds with lions, tigers and elephants and charging the public
obscene fees to come and view same, thus becoming liable to business tax,
but generating sufficient income to pay the Death Tax when it became due.
Nothing wrong with that.

The huge increase in property valuation in recent times was causing the
not-so-wealthy to be dragged into the IHT net, myself included, as I own a
3-bedroom apartment (regarded as obscene profigacy by the present
government) valued at around £370,000, but reducing in value daily these
days.

I had calculated that on the death of myself and my wife, my kids would have
to fork out around £80,000 in IHT, and sell the property, before they could
enjoy what was left of the fruits of my lifelong labours.

This all changed when our Opposition Party stated that, if elected, they
would shove the threshold up to £1m, thus releasing many millions of our
middle classes from this fiasco. The Labour Government immediately reacted
by effectively doubling the threshold (it's a bit more complex than this,
but the effect is as stated), and in order to balance the books, they would
put a £30,000 levy on all registered non-domiciles. (There must have been
one helluva lot of RND's to balance the loss of IHT caused by doubling the
threshold).

Released from this burden, I immediately went out and replaced my
ten-year-old BMW and indulged myself in a feast of spending, visiting
restaurants frequently and even looking at the odd yacht or two, although it
must be said I find sailing on other peoples' boats much more satisfying!

£30k is peanuts to most of these foreigners, the Russian guy who owns
Chelsea Football Club tips this amount in restaurants and taxis, and yet the
the CLC are mounting a campaign against the levy on the grounds that not
every foreigner living here, but exempt from paying UK taxes, is wealthy.
Sounds like an invitaion to re-calculate the levy, starting at say £5m for
foreigners who have tangible assets of £100m+ down to £5k for the guys who
are just here for the enhanced sex life the UK can supply.

I can fully sympathise with our US counterparts who find the present
proposals to pass $700b of taxpayers' money on to the very people who have
gotten us all into this mess totally unacceptable!

BTW, what as all this got to do with cruising?

Dennis.