A new convert to the cause. This form the Daily Mirror this morning:
The PM should follow the President-elect's lead, ensuring those with the deepest pockets pay the most.
Shutting British tax havens exploited by the filthy rich and big corporations in the UK and US could produce winners.
Ending the £25bn tax avoidance by companies identified by the TUC would be worth £1,000 to every worker.
Brown should learn from Obama.
The PM should ensure those with the deepest pockets pay the most
Nice to see the reference to the Missing Billions too.
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
There are links to this blog's glossary in the above post that explain technical terms used in it. Follow them for more explanations.
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
Buy me a coffee!
“exploited by the filthy rich”, so another unbias report then?
and the TUC report once again dicusses tax avoidance, which is totally legal and everyone does it, it is just leaglly minimising your tax bill. Why should you over pay tax.
If you asked the average worker you can pay the legal tax rate of 22%, but we have a special optional rate of 60% if you want ot be a good citizen and help keep that family of 12 non owrkers supported on the dole, which would they pay?
Creg
Let’s use some real figures shall we – how about asking the average worker if he would like to pay 31% (including NIC 11%) or 41% (the top rate of tax in this country for the last 20 years plus the 1% top rate NIC)? Then shall we point out that if the high earners don’t pay their 41%, our average earner may not get hospital treatment when he is sick and may have trouble getting decent schooling for his children?
Now Creg, do you know much about tax in this country? The basic rate is now 20% not 22% and the top rate of tax has been 40% for a very very long time. We haven’t had 60% income tax since the early 1980s.
and another thing. No, Creg, not everyone does tax avoidance. I am an employee like most people in this country paying tax and NIC through the nose under PAYE and the opportunity to do “tax avoidance” is not available to me. . I am, in any event more concerned about the health and education of my family. “Tax avoidance” is only available to the select few.
Ha, of course I know the UK tax rates notice I used the word ‘optional’ and the extra 1% NIC on employees and ers contributions were not brought in 20 years ago, but by good old Gordon around 5 years ago, so petty.
The point is that tax minimisation is legal, it’s not a gray area, and it’s everyone right. If you pay the taxes of owe according to the letter of the law, then you are paying your fair share.
And don’t pretend it’s only the rich that try to reduce their tax bill, I have seen many a sole trader trying to add every expense they can think of to reduce their taxable profits.
The HMRE even shut many loop holes over the last few years that the ‘average worker was using’ including incorporation and paying dividends to the no working wife to utilize her PA, or even pretending to be a subcontractor for their employer.
All methods by the average worker to minimize their tax bills.
As for an average worker not getting treatment when needed, that is the governments fault for wasting endless resources, where did that extra effective 2% increase on NI go?
Tax avoidance” is only available to the select few.
Do you pay into a pension, do you check to see if you pay your maximum contribution if your a higher rate tax payer, do reduce your tax liability? A nice easy form of tax minimisation, you’ll be surprised how many do it.
Creg
You abuse language almost as often as you ask us to believe in Santa Claus.
Paying into a pension is not, never has been and never will be tax avoidance. It is tax compliance. It is a person saving in a way that is directly and explicitly encouraged by law with a consequent tax saving that the government wishes that person to enjoy as a consequence of their having foregone the current enjoyment of the economic benefit of their income to secure a future advantage which will reduce the burden that they might impose upon the state.
We can be quite explicit about what tax avoidance is by simply understanding what the word avoid means. If I avoid something I go round . Tax avoidance means getting around the law in a way that no legislator anticipated. It is working outside and beyond the spirit of the law in a grey area where it is uncertain whether the person is complying with the law or not, and therefore where the risk of tax evasion is accented.
This is fundamentally different from paying into a pension where any person making a claim for tax relief is explicitly complying with the spirit and intention of the law.
Yet again it appears that you deliberately seek to misrepresent the truth in support of your argument. It really does you no credit
Richard
Give up, Richard. When people hold such different views of the world there can be no useful dialogue. It ends up with one person feeling obliged to define the meaning of every word he uses and the other wilfully refusing to agree. You’ve got far better things to do.
Actually James was using the words Tax evasion, I was just quoting him. I am discussing Tax minimisation which paying into a pension is as you defer your tax liability and probably reduce tha tax on it too in the long run
and your explanation of:
I have seen many a sole trader trying to add every expense they can think of to reduce their taxable profits.
The HMRE even shut many loop holes over the last few years that the ‘average worker was using’ including incorporation and paying dividends to the no working wife to utilize her PA, or even pretending to be a subcontractor for their employer.
These were all methods used by the average worker to work around the laws, or even in violation of them, before they were closed off.
And I don’t believe I have ever asked you to believe in Santa Claus? Although if he does exist I’m sure you would want to try and get to pay tax on the BIK’s he gets from the children (cookies and milk)
Frankly this is getting silly
As for misrepresenting the truth there are always 2 sides to every story and I do not feel that I’m distorting the truth anymore than you feel you are on most of your posts.
Don’t worry Carol, they are getting done
And what the likes of Craig did not realise is that they make me angry, and I turn that anger into energy which motivates me to undertake the work I do.
So is not a wholly negative process engaging with people like him
Richard