Budget - What would you do?

[BrilloPad]

VAT is a fairer tax than income tax, in the sense that the biggest consumers pay the most VAT, and the very rich/big businesses can’t use schemes and trusts to avoid paying it, but VAT should only apply to non-essentials.

CUK subscriptions are essential.

[Fred Bloggs]

Abolish both NICs, abolish all tax reliefs for persons and corporates. Give everyone, persons and corporates a GBP 10k tax free income allowance. Tax ALL income and capital gains at 20%, both personal and corporate. Apply 10% VAT to everything including food, housing and energy. How simple eh? Adjust all my figures so that the net effect on the economy and the tax take is zero. Sit back and watch the economy become the new Switzerland.

[vetran]

It should be removed. Along with income tax. And replaced with a tax on assets.

and then none will be held in the UK.

Rich people can afford better accountants.

[scooterscot]

Armchair economists, what would you do to boost Britain?

5. Do a Iceland and declare bankruptcy. We'd be enjoying a strong recovery by now.

[Paddy]

Armchair economists, what would you do to boost Britain?

Me? Well, glad you asked.

1. Bring dividend tax and income tax inline with each other, but lowering income taxes slightly and raising dividend taxes up. This will benefit most workers, and those relying on dividend income have generous ISA allowances anyway, so can receive divvy income tax free.

2. Reduce VAT to 15%. Everyone should see almost everything 5% cheaper, boosting consumer spending and the economy overall.

3. Bring in a £20K per annum fee for all work permits. So employers using them have to pay the workers wages AND pay the govt £20K pa for the privilege. If they don't like it they can spend £20K p.a. training up or sponsoring a UK worker instead.

4. Stick road tax for all diesels up another £1000 to help on pollution. I don't drive a diesel BTW.

10% flat rate income tax and corp tax with no allowances and no tax fee pay.
No need for accountants.
Vat @ 20% but can only claim back max 15%
Charities to pay full vat

[AtW]

This thread is full of crazy people

[BrilloPad]

and then none will be held in the UK.

Rich people can afford better accountants.

Surely not better than NLUK's accountant?

[BrilloPad]

5. Do a Iceland and declare bankruptcy. We'd be enjoying a strong recovery by now.

Can't we just invite a billion in bitcoin? According to you it will be worth 100billion by next year.

[sasguru]

95% tax on BTLs. Greedy fooking landlords.

[vetran]

95% tax on BTLs. Greedy fooking landlords.

yeah then overseas buyers can purchase the BTLs at a discount to leave them empty as an investment. That is going to help the housing crisis.

Lets hope no one lets you play with sharp implements.