A taxing matter
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A taxing matter
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Over recent months the news pages and programmes have been stuffed full of stories about tax avoidance and how much it costs the UK in times of austerity. We have celebs with their Channel Islands sch
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A taxing matter
posted at 28/7/2012 5:28 PM BST
on bmj.com
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Posts: 1271
First: 13/4/2010 Last: 23/5/2013 |
Over recent months the news pages and programmes have been stuffed full of stories about tax avoidance and how much it costs the UK in times of austerity. We have celebs with their Channel Islands schemes; we have large companies avoiding billions; we have a world-wide estimate of £12 trillion being squirreled away. And of course, as you might expect, it seems that those most able to afford tax are the ones least likely to pay. So, isn't it time for a change? Here's what I suggest (speaking as someone who is self-employed):- 1. have a tax-free income threshold of £10,000 2. then tax all income earned above that threshold at the same percentage (somewhere between 20 and 25%). 3. leave it up to each individual tax payer to claim back what they think they are owed in terms of legitimate work-related expenses (and ensure the burden of proof is on them not their accountants). 4. dis-allow all tax avoidance with a zero tolerance approach. Sounds fair and easy to me |
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Re: A taxing matter
posted at 28/7/2012 9:07 PM BST
on bmj.com
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Posts: 2059
First: 12/3/2010 Last: 23/5/2013 |
But steve, almost all tax avoidance is based on schemes to generate business - AKA 'work' - related expences that may be claimed against tax. It might be a simpler palying filed but it would still be a playing field, for accountants. John |
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Re: A taxing matter
posted at 28/7/2012 10:02 PM BST
on bmj.com
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Posts: 1271
First: 13/4/2010 Last: 23/5/2013 |
Not if all "expenses" had to be receipted, proven to be work-related and essential to carrying out that work and not if the payer, rather than the accountant, bore sole responsibilty for these claims.Tax avoidance is legal but it's very much about bending the rules and that's why accountants can charge the fees they do because, to their clients, it's worth it for some expert rule bending. It's that culture that needs to cease. |
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Re: A taxing matter
posted at 30/7/2012 2:26 PM BST
on bmj.com
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Posts: 878
First: 17/6/2011 Last: 24/5/2013 |
We might all discuss how much taxes we pay but my take in this is whatever our politicians have done there has certainly been a fine mess created - I only have to look at unemployment amongst young people to be grateful that my children won't enter the job market for 20 years or so. We have created a lost generation. sadian |
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