A fair tax

[AtW]

Land nearby would be just as expensive so they would have to move to Liverpool or Outer Hebrides. If they did, fair play to them it would bring City like wealth out of London.

Retard - have you ever paid business rates? Reevaluations are not instant - it would take at least until next year to revalue rent if some city firm moves in, probably 5 years in which case they'll save many billions.

I mean FFS, if they could double salaries of employees by having 0% income tax so long as job done in Swindon then they would - and you'd be the first to go back to where you belong.

[DimPrawn]

It won't increase instantly idiot, how often revaluations happen for business rates purposes? Like once every 5 years or so.

If you can save one billion in tax by moving every year to another building then they'd do it if they could.

Land nearby would be just as expensive so they would have to move to Liverpool or Outer Hebrides.

If they did, fair play to them it would bring City like wealth out of London.

[AtW]

If a big city firm moved to a cheaper area, the value of the land they moved to would rise dramatically, and hence the tax would follow them.

It won't increase instantly idiot, how often revaluations happen for business rates purposes? Like once every 5 years or so. If you can save one billion in tax by moving every year to another building then they'd do it if they could.

"The UK’s financial services sector contributed an estimated £67.8bn to UK government taxes"

http://www.cityoflondon.gov.uk/Corpo...009/FS_tax.htm

Do you really think those guys won't move/spread employees IF they can save THAT much money? They'd move to Swindon if they could gain that much cash.

[DimPrawn]

They'd move if this would have enabled them to legally without loopholes pay 0% income/corp tax.

You really are thick.

If a big city firm moved to a cheaper area, the value of the land they moved to would rise dramatically, and hence the tax would follow them.

Remember the value of the land depends on how it is used, and hence the taxable amount would change.

[AtW]

JPMorgan in Haggerston or Plaistow? Cant see it really

They'd move if this would have enabled them to legally without loopholes pay 0% income/corp tax.

[sunnysan]

Hmmmm

No, they would disperse to other cheaper areas of London and pay themselves massive bonuses without any tax (since land would be cheap). The s

JPMorgan in Haggerston or Plaistow?

Cant see it really

[d000hg]

So coffee seller in the City would be charged same value as bankers next door?

This idea is unworkable.

Lucky for you, there's no Stupid Tax yet (other than perhaps the AA).

[TimberWolf]

This tax should be based on volume rather than area.

[AtW]

City workers would have to pay £5000 for a cup of coffee.

No, they would disperse to other cheaper areas of London and pay themselves massive bonuses without any tax (since land would be cheap). The s

[DimPrawn]

So coffee seller in the City would be charged same value as bankers next door?

This idea is unworkable.

City workers would have to pay £5000 for a cup of coffee.

[AtW]

It's land value tax. The value of land in the City will be very high, and so the tax will be very high.

So coffee seller in the City would be charged same value as bankers next door?

This idea is unworkable.

[DimPrawn]

That's like business rates innit?

Stupid idea - bankers in the city use very little land and will pay very small tax.

It's land value tax. The value of land in the City will be very high, and so the tax will be very high.

[AtW]

That's like business rates innit?

Stupid idea - bankers in the city use very little land and will pay very small tax.

[Mich the Tester]

Sounds good to me. I'd like to see taxes such as NI (both the employer and employee aspect), VAT and other stealth taxes replaced with this one tax.

I couldn't give a stuff, even though I own a bit of land. As I see it, if they don't take it out of my right pocket they'll take it out of my left pocket. It's all just shifting taxes around really.

[DimPrawn]

What is LVT?

Land value tax - Wikipedia, the free encyclopedia


What is Land Value Taxation?
Land Value Taxation is a method of raising public revenue by means of an annual tax on the rental value of land. It would replace, not add to, existing taxes. Properly applied, Land Value Tax would support a whole range of social and economic initiatives, including housing, transport and other infrastructural investments. It is an elementary fiscal measure that would go far towards correcting fundamental economic and social ills.
The value of every parcel of land in Britain would be assessed regularly and the land value tax levied as a percentage of those assessed values.

"Land" means the site alone, not counting any improvements. The value of buildings, crops, drainage or any other works which people have erected or carried out on each plot of land would be ignored, but it would be assumed that all neighbouring properties were developed as at the time of the valuation; other things being equal, a vacant site in a row of houses would be assessed at the same value as the adjacent sites occupied by houses.

The valuation would be based on market evidence, in accordance with the optimum use of the land within the planning regulations. If the current planning restrictions on the use were altered, the site would be reassessed.

The advantages...

A NATURAL SOURCE OF PUBLIC REVENUE. All land makes its full contribution to the Exchequer, allowing reductions in existing taxes on labour and enterprise.

A STRONGER ECONOMY. If we tax labour, buildings or machinery and plant, we discourage people from constructive and beneficial activities and penalise enterprise and efficiency. The reverse is the case with a tax on land values, which is payable regardless of whether or how well the land is actually used. It is a payment, based on current market value, for the exclusive occupation of a piece of land. In the longer term, this fundamentally new and different approach to revenue raising will stimulate new business and new employment, reducing the need for costly government welfare.

MARGINAL AREAS REVITALISED. Economic actitivities are handicapped by distance from the major centres of population. Conventional taxes such as VAT and those on transport fuels cause particular damage to the remoter areas of the country. Land Value Tax, by definition, bears lightly or not at all where land has little or no value, thereby stimulating economic activity away from the centre - it creates what are in effect tax havens exactly where they are most needed.

A MORE EFFICIENT LAND MARKET. The necessity to pay the tax obliges landowners to develop vacant and under-used land properly or to make way for others who will.

LESS URBAN SPRAWL. Land Value Taxation deters speculative land holding. Thus dilapidated inner-city areas are returned to good use, reducing the pressure for building on green-field sites.

LESS BUREAUCRACY. The complexities of Income Tax, Inheritance Tax, Capital Gains Tax and VAT are well known. By contrast, Land Value Tax is straightforward. Once the system has settled down, landholders will not be faced with complicated forms and demands for information. Revaluation will become relatively simple.

NO AVOIDANCE OR EVASION. Land cannot be hidden, removed to a tax haven or concealed in an electronic data system.

AN END TO BOOM-SLUMP CYCLES. Speculation in land value - frequently misrepresented and disguised as "property" or "asset" speculation - is the root cause of unsustainable booms which result periodically in damaging corrective slumps. Land Value Taxation, fully and properly applied, knocks the speculative element out of land pricing.

IMPOSSIBLE TO PASS ON IN HIGHER PRICES, LOWER WAGES OR HIGHER RENTS. Competition makes it impossible for a business producing goods on a valuable site to charge more per item than one producing similar goods on less valuable land - after all, producers and traders at different locations are paying different rents to landlords now, yet like goods generally sell for much the same price and employers pay their workers comparable wages. The tax cannot be passed on to a tenant who is already paying the full market rent.

AN ESTABLISHED AND PROVEN SYSTEM. Local government variants of Land Value Taxation, known as Site Value Rating, are accepted practice in, for example, Denmark and Australia.


Sounds good to me. I'd like to see taxes such as NI (both the employer and employee aspect), VAT and other stealth taxes replaced with this one tax.