Taxes

[Bender]

Well which ones are you willing to pay more of  

[Stu]

Neither! 

 

Well maybe inheritance tax 

 

Only because I have nothing due 

[husoi]

Property tax on properties over £1m

tax on ICE cars over £75k and engine over 2.5L

tax on luxury items

A new tax on stupidity. It would fill the treasury in no time.

[Mississippi Bullfrog]

I have no problem with income tax rising slightly so long as the threshold for the least well off is raised. 

 

Our schools and NHS need better funding.

[Bender]

3 minutes ago, Mississippi Bullfrog said:

I have no problem with income tax rising slightly so long as the threshold for the least well off is raised. 

 

Our schools and NHS need better funding.

Probably the main one although will add to inflation. 

[S-Westerly]

Sunak already said he'd freeze tax thresholds for 4 years which is equivalent to a 21 billion pound stealth tax apparently.  Cuts in spending would be useful but where could it be done? Cuts in excessive bureaucracy across the board would perhaps help but I've no idea how much could be gained.

[manxie49]

I feel sometimes that all I'm doing is working to pay tax in this country!  Maybe start taxing people with second and third properties (buy to let).  IMHO that drives up the cost of property prices and makes it impossible for local people to get on the property ladder.  I also think it's about time they dropped VAT.  I'm sure the new PM will find numerous, well thought out and ingenious ways to take more of out hard earned away from us.  

[KiwiBob]

I'm not sure many people can take higher taxes! .. They're already at the highest since the 1950's.

 

Stop the tax dodging loopholes for off shore accounts and corporations. .. It won't happen as those people are Tory donors!

[onesea]

As someone paid by the tax payer, always been promised a payrise I should say yes to higher taxes.

 

Then I would get the payrise they promise.

However I get the feeling any tax rises will be more than the payrise I would receive.

[Bender]

6 hours ago, manxie49 said:

I feel sometimes that all I'm doing is working to pay tax in this country!  Maybe start taxing people with second and third properties (buy to let).  IMHO that drives up the cost of property prices and makes it impossible for local people to get on the property ladder.  I also think it's about time they dropped VAT.  I'm sure the new PM will find numerous, well thought out and ingenious ways to take more of out hard earned away from us.  

Think you find buy to let folk are already taxed and they removed the ability to claim the interest back, which had the effect of putting up rents, add more charges and they will be mostly passed on. 

[billy sugger]

Unfortunately any pay rise costs or tax increases will always filter down to those of us that can least afford them. The Government should be looking at taxing the huge bonuses the top dogs get, basically for sitting on their arse in some swanky office. What always irks me is the shop floor workers are the ones producing the products for their employer to sell, at a profit, yet don't benefit from those profits, but some suit in an office can get as much in a bonus as an average wage for their employees on the shop floor 

[Pie man]

 

[Mississippi Bullfrog]

5 hours ago, Bender said:

Think you find buy to let folk are already taxed and they removed the ability to claim the interest back, which had the effect of putting up rents, add more charges and they will be mostly passed on. 

As we live in tied accommodation we needed to buy a house for when I eventually (if ever) retire. The only way we could do it was a buy to let.

 

The regulations are rightly demanding and frankly it pays its way but we haven't made a penny profit.

 

This year our agents wanted to raise the rent as the market is scarce for city centre houses. We refused to put it up because we're more interested in treating out tenants fairly and it's not down to them that housing is so scarce. 

[Bender]

4 minutes ago, Mississippi Bullfrog said:

As we live in tied accommodation we needed to buy a house for when I eventually (if ever) retire. The only way we could do it was a buy to let.

 

The regulations are rightly demanding and frankly it pays its way but we haven't made a penny profit.

 

This year our agents wanted to raise the rent as the market is scarce for city centre houses. We refused to put it up because we're more interested in treating out tenants fairly and it's not down to them that housing is so scarce. 

And that's great but most are in it to make some money and can't afford to be a non profit making organisation. 

[Mississippi Bullfrog]

18 minutes ago, Bender said:

And that's great but most are in it to make some money and can't afford to be a non profit making organisation. 

True, which is why so many landlords are pulling out of the market. Round where our house is most have sold up.  Which is fine for those able to afford the houses put on the market but tough on those looking for a reasonable house to rent. 

 

I know it's common for landlords to be painted as money grabbing bast*rds, and some are, but there a still those who provide a decent house at a fair rent and they've been clobbered by the changes.

[Bender]

24 minutes ago, Mississippi Bullfrog said:

True, which is why so many landlords are pulling out of the market. Round where our house is most have sold up.  Which is fine for those able to afford the houses put on the market but tough on those looking for a reasonable house to rent. 

 

I know it's common for landlords to be painted as money grabbing bast*rds, and some are, but there a still those who provide a decent house at a fair rent and they've been clobbered by the changes.

Yup and at some point the rents go up. 

[S-Westerly]

A friend of mine had 2 small houses in the Guildford area which he rented out fairly without any gouging of tenants. He tended to have long term tenants as a result. The plan was it was to be part of his retirement income. When the rules changed it started becoming onerous and more expensive to him plus more of a risk. As a result he sold them both at a decent profit and has instead invested the funds. The houses were sold to owner occupiers not landlords.

[Gerontious]

We have a Tory government. so talk of a fair tax system is moot as they will as per usual disproportionately tax the lower paid rather than those at the top. Taxing income. Cutting what you and I have to spend. while everything necessary to us increases in price.

 

when you have attitudes like this from them the very same day they cut universal credit (mostly paid to working people) by £1000 a year.

 

 what more do you need to know?

 

The tax system in this country is a joke... always has been and probably always will be. Its aimed at enriching those at the very top at the expense of everyone else. And when I say the top.. I don't mean MPs. who are earning this pittance. They are the ones doing the dirty work for their financial backers and friends. "Greed is Good" Dontchaknow.

 

The problem isn't the tax system.. its deeper than that. its wealth inequality. multi-millionaires and billionaires. vs. you and me (and everyone else)

 

remember Covid and lockdowns? The furlough scheme which benefited the super rich more than anyone else.

 

Quote

 

The world’s billionaires “did extremely well” during the coronavirus pandemic, growing their already-huge fortunes to a record high of $10.2tn (£7.8tn).

A report by Swiss bank UBS found that billionaires increased their wealth by more than a quarter (27.5%) at the height of the crisis from April to July, just as millions of people around the world lost their jobs or were struggling to get by on government schemes.

 

 

the reason for this is because the money that the Bank of England 'printed' came to us and then we gave it to the super rich. we just handed it over. doff cap tug forelock.

 

you're welcome.

 

So, how will increasing income tax. national insurance. vat. and so on help.  it won't. it will just give more money to the rich.