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Tax rises on the way to pay for 2020


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https://www.bbc.co.uk/news/business

Planning doubling of CGT on second homes, stocks shares crypto etc from to pay for the government spending. Possibly in April budget. 

Personally I can't see why they need to tax for it just stick it on the balance sheet. And printy printy. Though I do welcome high taxes on second homes and BTL. 

Not sure if this has been mentioned, do merge if so. 

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Good post.

Theres going to be overt ones..those mentioned in accidental releases...the CGT and IHT. The wealth earners have to be broad spectrum in my view. The sneaky ones. A little bit off everyone.

Its the stealth ones that will interesting.

All could be hit by a NI raise. That in its self has many options from raised levels through to changes in years/ amount contribution.

Defintely think public pensions will be targeted at some point. Same reasons as above. It will be a difficult issue. Has to be done before next election..but not to soon to cause issues.

Theres a host of green taxes they can target. The call from Borris to Biden...the green economy.

Education seems as though it has been maxed out.

Cuts for overseas students? The spectre of closures is always close.

On line sales and a new variant of VAT maybe. Replace lost income from taxes related to lack of footfall.

Its coming..its just guessing the right horse to avoid the hit.

Maybe watch those politicos investments.

 

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56 minutes ago, The Grey Man said:

Good post.

Theres going to be overt ones..those mentioned in accidental releases...the CGT and IHT. The wealth earners have to be broad spectrum in my view. The sneaky ones. A little bit off everyone.

Its the stealth ones that will interesting.

All could be hit by a NI raise. That in its self has many options from raised levels through to changes in years/ amount contribution.

Defintely think public pensions will be targeted at some point. Same reasons as above. It will be a difficult issue. Has to be done before next election..but not to soon to cause issues.

Theres a host of green taxes they can target. The call from Borris to Biden...the green economy.

Education seems as though it has been maxed out.

Cuts for overseas students? The spectre of closures is always close.

On line sales and a new variant of VAT maybe. Replace lost income from taxes related to lack of footfall.

Its coming..its just guessing the right horse to avoid the hit.

Maybe watch those politicos investments.

 

 

The first won't happen, the second, I agree.

 

From the BBC article

 

Quote

About £14bn could be raised by cutting exemptions and doubling rates, according to the review, which was commissioned by Chancellor Rishi Sunak.

 

The main losers would wealthy people who own second homes or assets not shielded from tax.

covid has cost ?what? vs 14 bln.

cutting exemptions = PPR relief accounts for most of that I guess and won't happen

assets not shielded from tax = How dare you not pay our freinds running schemes?

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1 hour ago, Sucralose Ray Leonard said:

5% tax on people not working from an office? 

Anyone would think Deutsche Bank must be invested up to the bollocks in commercial property..  :ph34r:

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3 hours ago, The Grey Man said:

Good post.

Theres going to be overt ones..those mentioned in accidental releases...the CGT and IHT. The wealth earners have to be broad spectrum in my view. The sneaky ones. A little bit off everyone.

Its the stealth ones that will interesting.

All could be hit by a NI raise. That in its self has many options from raised levels through to changes in years/ amount contribution.

Defintely think public pensions will be targeted at some point. Same reasons as above. It will be a difficult issue. Has to be done before next election..but not to soon to cause issues.

Theres a host of green taxes they can target. The call from Borris to Biden...the green economy.

Education seems as though it has been maxed out.

Cuts for overseas students? The spectre of closures is always close.

On line sales and a new variant of VAT maybe. Replace lost income from taxes related to lack of footfall.

Its coming..its just guessing the right horse to avoid the hit.

Maybe watch those politicos investments.

 

I think that will be avoided by the cons. They'll tax as has been stated in the article.

CGT on second homes is a 'friendly' policy to most (most don't own 2nd homes or BTL). However I wonder if most BTL is now avoiding this using Ltd companies. Perhaps this the reason why they are pursuing it now, as there is a loophole to avoid it for their rich property mates. 

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4 hours ago, Green Devil said:

https://www.bbc.co.uk/news/business

Planning doubling of CGT on second homes, stocks shares crypto etc from to pay for the government spending. Possibly in April budget. 

Personally I can't see why they need to tax for it just stick it on the balance sheet. And printy printy. Though I do welcome high taxes on second homes and BTL. 

Not sure if this has been mentioned, do merge if so. 

Spending Review/Mini Budget is a fortnight today.

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1 hour ago, Libspero said:

Anyone would think Deutsche Bank must be invested up to the bollocks in commercial property..  :ph34r:

Oh look..

 Deutsche Bank, Goldman and JP Morgan top commercial real estate finance, despite COVID-19 cracks

Que sorpresa..  9_9

https://www.marketwatch.com/story/deutsche-bank-goldman-and-jp-morgan-top-commercial-real-estate-finance-despite-covid-19-cracks-11602250715

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2 hours ago, Libspero said:

5% tax on people not working from an office? 

Anyone would think Deutsche Bank must be invested up to the bollocks in commercial property..  :ph34r:

Its a laughable proposal . Surely tax policy should be designed to enhance productivity not to organise the economy in the least efficient and most polluting manner possible. Still if it saves Deutche Banks commercial property portfolio it will all be worth it. Anyway it would be a bureaucratic nightmare to administer particularly as hot desking policies were already leading to much more flexible working practices where staff might or might not be in an office on a given day. 

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Anyone who can should legally try to avoid paying any tax they can. Retire and move to a cheaper country if you can.

Fuck them all to hell for what they have done, scaring people literally senseless for no reason. A large number of the idiot sheople will be scarred for the rest of their lives because of this.

You've just been fu**** by psyops Because physical wounds heal | Morale  patch, Patches, Pin and patches

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6 hours ago, Libspero said:

5% tax on people not working from an office? 

Anyone would think Deutsche Bank must be invested up to the bollocks in commercial property..  :ph34r:

Our team were advised to claim the £100 or so tax rebate for WFH, available this year. I couldn't even be bothered getting into the debate about how many times over that'd be clawed back.

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For comedy value here is some socialist think tank's rantings.

Includes puttting basic rate income tax up from 20% to 24%.

Silly sods.

 

Those earning over £19.5k a year 'should pay more tax' to fix Covid UK finances

A think-tank has outlined how the Treasury could claw back some cash post Covid

Those earning over £19,500 per year and people with houses worth more than £2million should see their tax bill increase to boost public services, a financial think-tank has suggested.

The Resolution Foundation, a think-tank aimed at improving standards of living for low- and middle-income people, suggested £40billion of tax hikes to pump cash back into the Treasury and avoid 2010s-style austerity cuts.

In a 145-page report it outlined plans to raise £7bn from freezing tax thresholds – meaning people will pay more because allowances will not rise in line with earnings, the Mirror reports.

It calls for a corporation tax hike from 19% to 22%, which would generate £10bn, and £9bn of “wealth taxes”, including a one per cent “council tax supplement” on homes worth more than £2million.

The handful of firms which have benefited from the Covid-19 outbreak would be slapped with a one-off “Pandemic Profits Levy” of 10%, raising £130m.

But the most eye-catching measure would be a £17bn “Health and Social Care Levy”.

This would hike tax by four per cent on all income over £12,500.

https://www.cornwalllive.com/news/cornwall-news/those-earning-over-195k-year-4693086

 

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17 hours ago, Stunley Andwin said:

Anyone who can should legally try to avoid paying any tax they can. Retire and move to a cheaper country if you can.

Fuck them all to hell for what they have done, scaring people literally senseless for no reason. A large number of the idiot sheople will be scarred for the rest of their lives because of this.

You've just been fu**** by psyops Because physical wounds heal | Morale  patch, Patches, Pin and patches

Who cares if it’s legal or not?

The rule of law is fucked. It’s every man for himself now.

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Just now, whitevanman said:

Who cares if it’s legal or not?

The rule of law is fucked. It’s every man for himself now.

 

Er, no.

The state will still seize your assets and drag you off to prison by force.

 

The trick is to game the system.

How's your back? Bet it's aching.  Do you have unexplained joint pain?  That'll be fibromyalgia.  Been a bit down recently?  There's depression. Get your story straight and the docs will sign you off.

£150 a week PIP, rent paid, free car.

Sorted.

https://www.gov.uk/pip/what-youll-get

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