{"id":71565,"date":"2023-09-01T07:31:40","date_gmt":"2023-09-01T06:31:40","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=71565"},"modified":"2023-09-01T07:32:22","modified_gmt":"2023-09-01T06:32:22","slug":"i-hate-to-be-a-contrarian-but-we-really-do-not-need-a-wealth-tax-right-now","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2023\/09\/01\/i-hate-to-be-a-contrarian-but-we-really-do-not-need-a-wealth-tax-right-now\/","title":{"rendered":"I hate to be a contrarian, but we really do not need a wealth tax right now"},"content":{"rendered":"

As I noted in The National<\/a> yesterday:<\/p>\n

\"\"<\/p>\n

I stress this is not a deliberately contrarian view. I am aware of all the theoretical arguments for taxing wealth more. I agree with them. It's just that as a chartered accountant with forty years of experience in trying to agree valuations with HM Revenue & Customs, I know what a minefield this is.<\/p>\n

Make a demand that millions of people do this either as a one-off exercise or, even worse, annually, and the whole administration of tax in the UK might collapse into a quagmire for dispute and litigation as a result of which every other aspect of the tax administration will be undermined. That is not my idea of good tax reform.<\/p>\n

As I added in that article:<\/p>\n

\"\"<\/p>\n

I then noted:<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

I took part in a discussion on this issue with National journalist Xander Elliards yesterday afternoon (live, but I cannot now find it on the site) during yesterday afternoon. He was dubious at first. He was very surprised by my opinion column when he first read it, having assumed I was bound to be in favour of a wealth tax. At the end of the discussion, he was convinced by my argument.<\/p>\n

That's one down and many more to go, you might say. But I am convinced this is the way to go.<\/p>\n","protected":false},"excerpt":{"rendered":"

As I noted in The National yesterday: I stress this is not a deliberately contrarian view. I am aware of all the theoretical arguments for
 Read the full article…<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,126,106,50,97,196,150],"tags":[],"class_list":["post-71565","post","type-post","status-publish","format-standard","hentry","category-economics","category-joy-of-tax","category-politics","category-tax-gap","category-tax-justice","category-the-national","category-wealth-tax"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/71565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=71565"}],"version-history":[{"count":2,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/71565\/revisions"}],"predecessor-version":[{"id":71572,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/71565\/revisions\/71572"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=71565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=71565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=71565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}