Quote Originally Posted by Geoff Parkstone View Post
"I do ask myself time and again, if one has many millions, how much more does one need? " Need or want? If you plan to buy a football club, plenty? At some point aspiration likely becomes an obsession.....why else are you or I still working?

As for saving tax - well you can save it short term but when you are dead the Treasury rape and pillage you. That hard earned pension pot you have saved for will soon disappear at up to 60% roughly. Yes the mega rich will find ways and means, but for the "average hard working guy" pulling down say 100-150k a year any tax planning will likely more defer the tax than avoid it. Low income earners dont pay that tax, high income earners likely can delay or avoid it. Thos in the middle are screwed one way or the other. Inter generational wealth is rapidly becoming a thing of that past for most people so it you want to leave anything substantial to your kids then you probably do need "that one more million".
I've no issue with wealthy people actually using their money to say buy a football club, like Clowes, though he has been sensible and done it through a subsidiary of his company to limit his liability or indeed to fund other projects that have a wider benefit. Actually I've no objection to anybody being wealthy, but quit the whining about paying your tax dues!!

I've got trust arrangements for my childrens inheritance, so no raping and pillaging by the Treasury for me. Plus I've given them financial help over the years within whats allowed, as I don't see the point of heirs inheriting money later in life when its generally earlier on in adult life its most helpful.