... incentivised entrepreneurs ...
love the spin they put on stuff.
love the spin they put on stuff.
Fair tax: Maybe rich people should pay it too."
- Thread starter JohnD
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CGT itself has been wrangled over for decades, with a long list of more or less plausible reasons for putting the rates up or down, or alter what it applies to. It does encourage investors to risk their money in businesses, though worldwide.
When there is no advantage, the richest simply take their money abroad because most countries' rates are lower. Various chancellors have made it more or less complicated. Gordon Brown was criticised for being about the worst of the messers.
Presumably whoever it falls to will get round to messing with this apparent(?) fiddle sooner or later.
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When there is no advantage, the richest simply take their money abroad because most countries' rates are lower. Various chancellors have made it more or less complicated. Gordon Brown was criticised for being about the worst of the messers.
Presumably whoever it falls to will get round to messing with this apparent(?) fiddle sooner or later.
Carried Interest Explained: Who It Benefits and How It Works
Carried interest is a share of profits from a private equity, venture capital or hedge fund earned by the fund's general partner.
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Spiv traders, for example the ones mentioned in my post.
A tax system that is more generous to the millionaire making fifty thousand quid in capital gains, or in dividends, infinitely generous to the wife of the Prime Minister who claims not to live here, and less generous to the man earning fifty thousand quid in wages, is a tax system that needs reform.
I was talking to two neighbours the other day* over a mince pie.
One is a working man who grumbled that on his earnings of £50k, he pays £7,486.00 income tax and £4,853.63 National Insurance.
The other neighbour is a private investor receiving £50k of dividends, who pays £3,100.13 income tax and no NI.
Obviously this is perfectly fair.*
Shouting over the high wall of his grounds, our multibillionaire neighbour said that he pays no tax here because, although a UK citizen, with an English peerage, born here, educated here, owning a house here, owning a newspaper and internet company here, that sells British goods and services, in Britain to British people, he says that UK is not his real home. He says he inherited this status from his British father, who lived in France for a while.
Obviously this is also fair.*
If you doubt my word, check it yourself.
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* these bits are not true.
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Did/do you use your Dividend tax allowance on all those fabulous investments you make?
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I find it odd that the labour fanboy is complaining about a generous labour tax policy rightly restricted by the conservatives.
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Not tax dodging, then, but in accordance with the law.
Any system is going to have details which can be exploited. Sometimes they go too far and loopholes get closed, if they're worth the cost.
Any system is going to have aspects which some don't like.
"I" or rather my tax bloke, have/has always done a number of maneuvers I understood at the time but many I don't remember, to reduce the amount of tax I've paid. Most would do the same.
CGT is at a lower rate partly because the whole of the money is at risk, amongst other sound reasons recognised around the world but evidently beyond someone's comprehension.
Some guys do maneuvers & someone doesn't like those things, tough. Of course they aren't worth doing if you only earn 50k so it's tends to be wealthy people who do it. NSS.
The post (#19) above looks like the hyperbolic rantings of a jealous man.
JD please illustrate how you do not optimise your tax payments?
The rest of the post of course is fantasy - that never happened.
The parts with the asterisks are true, the rest is a wet dream.
How odd of you to assume that I would be in favour of unfair taxation.
Your prejudices must be leading you astray.
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It isn’t unfair. Start a business, work hard, grow it, sell it and you can also benefit.
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Premium bonds must be unfair too. No work at all, a million quid, tax free.
Of course you need money to buy them so the rich get richer, blah blah.
Unfair my arse.
Of course you need money to buy them so the rich get richer, blah blah.
Unfair my arse.
Would you be complaining of the easy ride if you were rich?
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And that proves the point.
Who writes the rules?
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Time to tax labour less and capital and land more - we have it the wrong way round so we have a renty economy.
Incentivise the right behaviour not asset accumulation.
Incentivise the right behaviour not asset accumulation.
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Ireland opted to do the exact reverse and investment flooded in along with jobs and prosperity.
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