Tax rises?

[willendure]

Anyone care to guess where the upcoming tax rises will be put?

My guess is lowering the VAT threshold quite a lot.

[malvolio]

They'll go wherever they will do least good for economic growth and/or support Labour's core belief that wealth is a bad thing.

We have a chancellor that is ignorant of economic reality. She is only surviving because she makes Starmer look competent and stops him having to claim they have fixed the economy.

[NotAllThere]

They'll go wherever they will do least good for economic growth...

We have a chancellor that is ignorant of economic reality...

Been like that for years, it seems.

[WTFH]

Gambling and crypto.

I'd love them to go after off-shore as well, but I doubt they will.

[Protagoras]

It's the financial equivalent of 'beatings will continue until morale improves' ...

[jamesbrown]

LLPs, apparently.

[willendure]

Gambling and crypto.

I'd love them to go after off-shore as well, but I doubt they will.

Extra CGT on crypto?

[sadkingbilly]

Extra CGT on crypto?

+250% at least

[Funhouse]

Gambling taxes
Reduced VAT threshold
Removal of £500 dividend allowance
Higher tax for LLPs
Maintain £60,000 max pension contribution but removal of x3 previous years un-used allowances
Adding VAT on mobility scheme
Council tax rates replaced with 0.45% charge of todays property value
Reduction in single persons council tax allowance from 25% to 20% for properties Band D or above

[Protagoras]

Adding VAT on mobility scheme

Might be possible to implement for new scheme users, but existing users are signed up to fixed monthly payments for 3 years, with the option to extend. Any implementation of additional charges would need to allow existing users to walk away with no penalty.

Council tax rates replaced with 0.45% charge of todays property value

Would presumably require re-valuations. Most of the commentary is around a land value tax.
I just don't see them doing anything more than adding a few bands, short term.

Reduction in single persons council tax allowance from 25% to 20% for properties Band D or above

Would be seen to penalise working people and I think unlikely. The matter of council funding is a bit of an elephant in the room and needs a fresh approach. The value of the property in which one lives is a terrible proxy for wealth or income. A consultation on land value tax or local income tax could be announced.

I can see pensions being an easy target. I'd not be surprised to see a new tax on pensions, and restrictions on the 25% lump sum, probably phased in. Some form of limit on salary sacrifice, and tax relief at marginal rate replaced with a standard rate in the 25-30% range. This lot could be said not to impact the co-called 'working people'.

Won't happen, but the Apprentice Levy should be removed from employers and added to employee tax. That's only fair and would bring all workers into line with umbrella workers.

Sugar tax would be would be an easy one.

Fuel duty rises and increased taxes for non EVs. Effectively a tax for those refusing to conform.

Increasing taxes on unearned income to align with earned income.

Tax ISA interest for those with over £100k in ISAs.