Election Year or Fear!

[Andy_Faber]

It seems, whoever gets in, there will be no increase in Income Tax, NICs and VAT. Con/Lab/LibD have said roughly the same. What they haven't said, from what I've seen over here, is where the extra money is going to come from.

Apologies if I've got it wrong, but it looks to me like all 3 are going to plug some loopholes and hope, it's no more than hope, that they get a lot from things like scrapping non-Dom, closing tax loopholes, making tax evasion harder... I bet accountants up and down the country are rubbing their hands at all the extra they'll make from their clients dreaming up new ways to get round paying tax.

Labour have said they'll put VAT on private schools fees. That's about it, as far as I can see.

Why aren't Labour and LibDem going after dodgy Covid PPE billions? What aren't they chasing Baroness Mone and Hancock's favourite Pub Landlord among others for the profits they made on deals that have been labelled illegal in Court? Chase however many billions is unaccounted for?

A wing and a prayer doesn't seem to me to be the best way forward for UK PLC but, again please correct me if I'm wrong, that does seem to be what the parties are suggesting.

Windfall taxes are something I'd push for. If a company's profits rise immensely because of something innovative they've done then let them and their shareholders wallow in the financial glory. I have no problem with that. Conversely, it seems Tesco's profits have gone up by getting on £2Bn during a cost of living crisis. I'd say to anybody in Governement, let's have some of that. I'd also be in favour of giving Tesco, for instance, the opposite of a windfall tax, a sort of downpour rebate if they, through no fault of their own, had a less than successful year. Fairness for all.

Now, I'm now going to venture where no man should go, things I don't know about. I do know the various rates of Tax in NL, be that personal income tax, company profit, dividends... Is it the same in the UK that income derived through capital be that fron dividends, share dealings, income from rental portfolios and other income derived through capital is taxed at a lower rate than income through work. Personally, I find that abhorrent. A earns 30K monetary units a year working 9 to 5 in an office, sweeping the streets, nursing or whatever. He'll pay more tax on that income than B who makes 30K monetary units a year buying and sellin stocks and shares, "investing" in ******* or living off the proceeds of the shares he inherited from his parents. Your income is 30K, no matter how you got it, we should all pay the same tax on it. Here in NL, that's not the case, is it the same in the UK?

Not like that in U.K. MA, all taxed at the marginal rate (if the income is in the hands of individuals)

[MadAmster]

Not like that in U.K. MA, all taxed at the marginal rate (if the income is in the hands of individuals)

Thanks AF. Now I know.

[Andy_Faber]

It seems, whoever gets in, there will be no increase in Income Tax, NICs and VAT. Con/Lab/LibD have said roughly the same. What they haven't said, from what I've seen over here, is where the extra money is going to come from.

Apologies if I've got it wrong, but it looks to me like all 3 are going to plug some loopholes and hope, it's no more than hope, that they get a lot from things like scrapping non-Dom, closing tax loopholes, making tax evasion harder... I bet accountants up and down the country are rubbing their hands at all the extra they'll make from their clients dreaming up new ways to get round paying tax.

Labour have said they'll put VAT on private schools fees. That's about it, as far as I can see.

Why aren't Labour and LibDem going after dodgy Covid PPE billions? What aren't they chasing Baroness Mone and Hancock's favourite Pub Landlord among others for the profits they made on deals that have been labelled illegal in Court? Chase however many billions is unaccounted for?

A wing and a prayer doesn't seem to me to be the best way forward for UK PLC but, again please correct me if I'm wrong, that does seem to be what the parties are suggesting.

Windfall taxes are something I'd push for. If a company's profits rise immensely because of something innovative they've done then let them and their shareholders wallow in the financial glory. I have no problem with that. Conversely, it seems Tesco's profits have gone up by getting on £2Bn during a cost of living crisis. I'd say to anybody in Governement, let's have some of that. I'd also be in favour of giving Tesco, for instance, the opposite of a windfall tax, a sort of downpour rebate if they, through no fault of their own, had a less than successful year. Fairness for all.

Now, I'm now going to venture where no man should go, things I don't know about. I do know the various rates of Tax in NL, be that personal income tax, company profit, dividends... Is it the same in the UK that income derived through capital be that fron dividends, share dealings, income from rental portfolios and other income derived through capital is taxed at a lower rate than income through work. Personally, I find that abhorrent. A earns 30K monetary units a year working 9 to 5 in an office, sweeping the streets, nursing or whatever. He'll pay more tax on that income than B who makes 30K monetary units a year buying and sellin stocks and shares, "investing" in ******* or living off the proceeds of the shares he inherited from his parents. Your income is 30K, no matter how you got it, we should all pay the same tax on it. Here in NL, that's not the case, is it the same in the UK?

We’ve been talking a lot about tax take, and in my accidental profession/revenue earning hobby I get taxed at many stages, and they’ve all been squeezed in terms of rate or allowance over the years. It’s made many landlords very bitter and enough have left the field to have exacerbated the rental stock shortage. We’ve decided to stay in, but in our case it most definitely HASNT been and ISNT ‘unearned’ income, I/we have physically financially and intellectually popped a ******* to get where we are and I consider any rewards to be earned. I have no problem paying any of the taxes due and can see the logic in their tightening.

[Andy_Faber]

I’m afraid you rather rest my case.
You’re a moderator, the name is a clue. I couldn’t care less about your endless spat with Swale and I don’t think I’ve used a ‘catchphrase’ but please don’t start telling me what to do and what not to do…that really isn’t how this works.
Putting ‘one’s head above the parapet’ is always likely to result in some abuse from one side or the other and I guess ‘Tory-liking’, if that’s what you do, is likely to be particularly unpopular after the performances of the last few years and most recent leaders. Having said that, although I frequently disagree with you, I don’t think I’ve ever been guilty of abuse and perhaps the spitefulness you speak of is a damned good reason not to follow your recommendation and ‘get around social media more’.

To each their own, although reading some of the bile therein I can see why the more sensitive of us suffer mental health problems

[ramAnag]

To each their own, although reading some of the bile therein I can see why the more sensitive of us suffer mental health problems

Sorry…no idea what that means, where it’s come from or who it’s aimed at and as I see this forum is no longer ‘actively moderated’ it’s probably a good time to take a step back.

[Trickytreesreds]

Is it time for proportional representation?

Read a report today, that the combined support for Labour/Tories, is the lowest since 1918.
There are many voters out there that are demanding a say in West Minster.
FPTP, is now void, when the 2 main parties are that close, a fag paper wouldn't split them. That's why I stick to my guns, that under Starmer, you will see nothing change. There is/will be no direct pressure for something different.

[swaledale]

A typical reform voter, in an area where immigration is very low, cites immigration as the reason the NHs doesn't work and there are no social homes. The interviewer - but the population here is over 90% white, so how is it immigrants causing the problem here in Clacton?

Of course all these people are over 65 white clueless ****s!

Immigration is unlikely the root cause of Clacton’s problems. According to the 2021 census, only 2.4 percent of people in the Tendring area, the Es*** council where Clacton is the largest town, were non-UK passport holders, compared with the national average of 9.9 percent.

[swaledale]

Any parents struggling to pay VAT on public school fees could just borrow the money at 8% compound interest for the rest of their lives. Like millions of working-class students have to.

[Andy_Faber]

Thanks AF. Now I know.

sorry MA I had to slightly correct myself re capital gains

[MadAmster]

sorry MA I had to slightly correct myself re capital gains

Ta, again. Now I really know