Autumn Budget 2022

[Mercenary Keyboard Warrior]

So now it’s not ‘everyone‘ that has to do it - but if they don’t how would you combat fraud? Make your mind up…

plus those that don’t would you criminalise or just fine? Tax on the poor etc etc

Honestly its not hard, many places do this.

Eg you have to annually fill in :
Do you own stocks, shares, rights to either, tracker indexs (etc as defined by a pop up) greater than £10000 Y/N
Do you own a property where the net value after deducting any mortgage amount is greater than £100000 Y/N
Do you own a any other collections of assets, such as historic cars, artworks, NFT or cryptocurrency greater than £75000 Y/N
Do you pay all your taxation on earnings via PAYE via your employer(s) Y/N

That would cover most of it, 4 questions that for many people would need no followup at all if they answer N.
How many of them do you think your McDonalds worker would be saying yes to?

Many people potentially could be liable for tax soon with rising interest rates that they may well not declare.
And most will probably be oblivious, which is no defence, but at least if everyone had to complete the basics it would actually mean everyone checked their tax.
It is your responsibility now, not your employers, but most don't do it.

 

[n111ck]

Just filled in your form and ticked N for all of them but I’m lying what you going to do about it? Who is going to investigate / how will they be funded?

can’t be bothered to fill in your form - what you going to do about it?

don’t understand your form - what you going to do about it?

why am I being penalised for being a home owner? Tax on families etc

good luck locating my crypto lol..

etc etc etc

 

[SpeedFreak]

It wouldn't be council tax anymore. The value should depend on many factors, something from 5K upwards (to a maximum of 10k) would be reasonable and inline with other countries. Some proposals also exempt the mortgage balance from taxations, e.g. someone owning a £500k house with £450k mortgage would only pay the tax on the £50k equity they own, the rest is levied against the bank, alongside proper regulations so that this charge isn't passed as interest to the buyer.

Only this country considers property sacred and its fundamentalist religion.



Nonsense. Texas has no property taxes at all because they likely follow your brand of politics

It's places like California, New York, etc that have them and they also have high levels of state income tax on top of all other taxes. They are also some of the most productive regions in the entire world.



You should actually educate yourself before making statements like that.

Who exactly do you think the bank will pass the cost of their 4.5k bill on to?

 

[Mercenary Keyboard Warrior]

Just filled in your form and ticked N for all of them but I’m lying what you going to do about it? Who is going to investigate / how will they be funded?

can’t be bothered to fill in your form - what you going to do about it?

don’t understand your form - what you going to do about it?

why am I being penalised for being a home owner? Tax on families etc

good luck locating my crypto lol..

etc etc etc

So do you think everyone who fills is SA now does the same? Just lie, to HMRC
Or is it just a childish rant?
AGAIN, many countries already do the same.

So based on the fact you don't seem to like wealth taxation I assume you believe the current system of income tax and council tax is nigh on perfect in its implementation?

 

[n111ck]

So do you think everyone who fills is SA now does the same? Just lie, to HMRC
Or is it just a childish rant?
AGAIN, many countries already do the same.

So based on the fact you don't seem to like wealth taxation I assume you believe the current system of income tax and council tax is nigh on perfect in its implementation?

of course some people lie when completing their SA’s lol and your talking about adding millions more potential and impractical investigations to the pot.. so naive.. not to mention taking responses on trust.. no guv got no bitcoin honest lol..

what other countries do is irrelevant

what happens with properties in joint names - do they both pay your new tax - what if one earns more than the other etc

my point isn’t about wealth taxation is about creating ridiculous and impractical solutions like this..

 

[Mercenary Keyboard Warrior]

of course some people lie when completing their SA’s lol and your talking about adding millions more potential and impractical investigations to the pot.. so naive.. not to mention taking responses on trust.. no guv got no bitcoin honest lol..

what other countries do is irrelevant

my point isn’t about wealth taxation is about creating ridiculous and impractical solutions like this..

Whatevs

You clearly know loads about tax and how its collected

 

[n111ck]

Whatevs

You clearly know loads about tax and how its collected

Well I clearly know more than you.

 

[Mercenary Keyboard Warrior]

Well I clearly know more than you.

Yeah I'm only an accountant, know nothing about tax at all

 

[Devilman]

Well I clearly know more than you.

The certainty with which you say this makes it absolutely certain it's not true.

 

[n111ck]

Yeah I'm only an accountant, know nothing about tax at all

If you are genuinely an accountant then I am genuinely shocked at your naivety.

 

[n111ck]

The certainty with which you say this makes it absolutely certain it's not true.

see post above

do you think their idea is good, practical and affordable? if so why?

 

[Mercenary Keyboard Warrior]

If you are genuinely an accountant then I am genuinely shocked at your naivety.

Hehe your priceless.

Its not naivety, its understanding.

In case you unaware, this person is also an accountant, how do I know, he said in another thread where we had another clueless person being confirmed as wrong by 3 accountants.
It seems to be a common trait in Brexiters

They either take their lack of ability and come to one of two conclusions :

Everything is really easy and no idea why people who understand make out its hard.
Everything is really really hard and no matter even if you know what your talking about could you possibly know it.

Yeah, even a normal tax return now isn't particularly difficult to manage yourself for most people.

Just linking you in buddy as I needed a bit of actual accountants knowledge seeing as mine is naive

 

[n111ck]

Hehe your priceless.

Its not naivety, its understanding.

In case you unaware, this person is also an accountant, how do I know, he said in another thread where we had another clueless person being confirmed as wrong by 3 accountants.
It seems to be a common trait in Brexiters

They either take their lack of ability and come to one of two conclusions :

Everything is really easy and no idea why people who understand make out its hard.
Everything is really really hard and no matter even if you know what your talking about could you possibly know it.



Just linking you in buddy as I needed a bit of actual accountants knowledge seeing as mine is naive

You are so sure of your idea but you have failed to address any of my criticisms - we just have to accept it will will work because you say you are an accountant?

Another example - what happens to a low income worker that inherits a house (below inheritance tax threshold) - do they have to sell the house because they cant afford your new tax?

assets don't necessarily equate to income or ability to pay

 

[dlockers]

Another example - what happens to a low income worker that inherits a house (below inheritance tax threshold) - do they have to sell the house because they cant afford your new tax?

Yes - what kind of communist in disguise are you?

 

[Mercenary Keyboard Warrior]

You are so sure of your idea but you have failed to address any of my criticisms - we just have to accept it will will work because you say you are an accountant?

Another example - what happens to a low income worker that inherits a house (below inheritance tax threshold) - do they have to sell the house because they cant afford your new tax?

assets don't necessarily equate to income or ability to pay

I have said before, although in regards older people mainly that I would allow a deferment of tax when the person is low income but asset rich. (would have course need limits, such as no investments abvoe a small amount, no other properties etc)
But yes the age old example of the little old lady in her family mansion surviving on state pension would be covered by this mechanism.
HMRC would simply apply a charging order against the house to be settled upon death.

Why do you think someone asset rich, but cash poor should not pay their way in the UK we live in?

Most of your "criticisms" are just derp and pretty hard to reply to tbh.

 

[n111ck]

Yes - what kind of communist in disguise are you?

lol so you must have supported the dementia tax?

why do you hate the poor? lol

 

[dlockers]

lol so you must have supported the dementia tax?

why do you hate the poor? lol

Why would you conflate all of those things?

Someone who can't afford the place they live, whether they are on NMW or £100k a year, should cut their cloth accordingly. Too many old boomers living in prime property that is preventing others from progressing. Then these crappy old poorly maintained homes are what we have as part of the housing stock.

 

[n111ck]

I have said before, although in regards older people mainly that I would allow a deferment of tax when the person is low income but asset rich. (would have course need limits, such as no investments abvoe a small amount, no other properties etc)
But yes the age old example of the little old lady in her family mansion surviving on state pension would be covered by this mechanism.
HMRC would simply apply a charging order against the house to be settled upon death.

Why do you think someone asset rich, but cash poor should not pay their way in the UK we live in?

Most of your "criticisms" are just derp and pretty hard to reply to tbh.

so you are adding even more complexity - again, how is this being funded?

none of my criticisms are complex lol - how are you tracking crypto?

what are you doing with people that refuse to engage with this process?

 

[n111ck]

Why would you conflate all of those things?

Someone who can't afford the place they live, whether they are on NMW or £100k a year, should cut their cloth accordingly. Too many old boomers living in prime property that is preventing others from progressing. Then these crappy old poorly maintained homes are what we have as part of the housing stock.

I thought these tax 'proposals' were supposed to help the poor not make them homeless..

This could push someone into renting because it's cheaper than paying this 'politics of envy tax'... how progressive..

 

[dlockers]

I thought these tax 'proposals' were supposed to help the poor not make them homeless..

No, they're meant to capture tax from the wealthy. Wealth shouldn't just be on income. I'm not saying a percentage of house price is the right answer, but there are folk who have millions of quids in assets paying next to nothing.

If genuinely wealthy folk were paying their fair share, then we wouldn't have such disparity to the poor.