to ask how you would stop companies and investors leaving the UK?

This.

@nearlylovemyusername

So you think that Osborne, Hunt, Kwarteng, and Sunak did a great job during their 14 years in power?

A bunch of incompetents wedded to economic theories that have long-since been debunked. A group who somehow managed to increase public borrowing by trillions while at the same time overseeing a decline in vital public services and national infrastructure. A party that decided that leaving the EU would result in greater prosperity when in fact it has meant a 4% loss of GDP - or almost £100bn a year for the last 9 years. At least the pro-European Hammond had the decency to resign rather than back Johnson's Brexit delusions, and the likewise pro-European Javid resigned rather than have policy dictated to him by the unelected Cummings.

Well, I suppose it depends what you think “good value” is. There aren’t that many large pharmaco in the UK, if you want to push them away fine … and then what?

The VPAG agreement is incredibly unfortunate to the UK pharma market attractiveness - and as we are not in EMA anymore that adds a layer on top

It is a global economy - it really seems that many cannot see it sadly - if other countries play the game better than the UK then we lose the companies, tax revenue, jobs, and all the downstream service roles supported by those jobs and companies

But that's perfectly legal! Companies exist to make money. Being tax efficient is financially sensible and what every GOOD business should do!

Governments role should be a balancing act - raise tax revenue BUT be attractive to businesses and investors.

Didn't Ireland make an attractive deal with Amazon some years ago to the fury of the EU or did I dream that?

It’s not billionaires you have to worry about. They avoid tax quite successfully. It’s the millionaires and those on 6 figure salaries - who need to take a salary or dividend. It’s those on over 100k (like experienced doctors) who are going part time because it’s not worth going over the 100k threshold for tax. It’s entrepreneurs who want to grow a business but already pay so much in corporation tax and national insurance (on their employees). 25% of people pay 75% of tax. And they are leaving if you tax them more - whether we like it or not.

ISA's are a very useful "loophole" used for tax Avoidance but I doubt many of these "tax the rich more" posters would view them in the same light......😏

Portioning up businesses into smaller ones and registering them in low taxing countries seems to be a popular strategy.

Very well said

No, you’re right. I meant my post to demonstrate and balance all the hate and name calling towards disabled people currently, but it didn’t come across well.

It seems whoever you are and whatever your position there is a large element of judging those who are not like you, and I think that’s a large part of the problem. We’re so disconnected as a country. That’s what I meant, but it didn’t come across that way!

No I’m a chartered tax advisor. I don’t work in personal tax but I didn’t pass the exams too long ago so have quite a bit of recent knowledge . How are income taxes being avoided / evaded now?

That’s a good one

At least Reeves has a masters degree in Economics - which hopefully she can draw upon as she works to attract growth and prosperity to the UK while at the same time attempting to deal with the destruction and wasteland left behind by the Conservatives.

😂😂😂Made my day, thank you

Sounds good op. Your last line is the issue.

In what way will the loss of AstraZenica be a huge blow to the UK?

It is the listing that is being moved, not the manufacturing plants, research facilities etc. Why is Labour refusing to agree to the deal negotiated by Hunt (the "appalling bungling of the vaccine plant") a bad thing if the Treasury concluded that it did not represent good value for the taxpayer? A feature of the last Conservative government was the willingness to be held to ransom by big businesses who threatened to quit if they didn't get millions in investment from the taxpayer - just look at the steel industry, the water utilities, the rail industry, or HS2.

The loss of tax benefits for non-doms so only an issue because our taxes are so high. If we had more moderate rates if taxation then the difference wouldn’t be so stark. While losing rich people is bad for the British economy, I’ve always struggled to understand why a rich person from another country should get to live here fulltime while paying less tax than a hospital consultant, but if a similarly rich person from the U.K. wants to enjoy these low levels of taxation, they have to leave their homeland. JK Rowling has never complained about paying tax at the same rate as everyone else.

“Allow extremely large bonuses and executive remuneration as long as they are tied to…” I would finish that sentence by saying “the recipient being fully tax resident in the U.K. and paying full U.K. tax on it.”

Set against the above I would:

• reduce corporation tax to 16%
• reduce employer NI contributions
• require salaries to be recorded inclusive of employer NI and employer pension contributions, so people can see how much they really earn and where it all goes.

Exactly. Yet again there is an OP making an attack on Labour, who have been in government for one year, but no mention of the mismanagement and incompetence of the government of the preceding 14 years.

Brexit, austerity, a lack of investment in vital services, a lack of oversight of privitised utilities, Conservative chancellors whose only quality is seemingly having the ability to spout convincing bollocks in a posh voice.

At least Reeves has a masters degree in Economics - which hopefully she can draw upon as she works to attract growth and prosperity to the UK while at the same time attempting to deal with the destruction and wasteland left behind by the Conservatives.

I think it's because MN typically represents those of the average middle who are like crabs in a bucket fighting each other.

just because it's written clearly? what about accuracy of info?

Perhaps it’s just a mumsnet thing then. This and other similar threads spout a lot of hate.

Let's be honest, AZ has become increasingly frustrated with Labour over the past 6 months, starting with their appalling bungling of the vaccine plant deal. The loss of AZ will be a huge blow to the UK and will damage the Labour party considerably.

All that and some bloody optimism !!
We are not the only country suffering the entire world has been set back by a global pandemic , Russia ,oil and so on.

Comprehension must be most important subject taught in schools.

We're talking about individuals/businesses who make money and do pay taxes, but due to current UK climate and tax regime decide to emigrate means move their tax residency and pay their taxes elsewhere.

apart from they don't tax due as much as the next person:

Stats are:

Top 1% (about 310,000 people, on £160k taxable min) pay 29% of all income UK taxes. This is about 80bn.

Top 10% pay 60%, which is 166bn.

About one third of working age population don't pay any tax at all.

If only 5% of those top tax payers change their behavior and quit / emigrate, the immediate loss is 4bn. Of income tax alone. But there's also VAT, NIC, most important - they are usually those who generate growth and improve productivity.

I worked for HMRC for over 30 years.

When it comes to taxation there is a "Goldilocks Zone" for the highest rates. Set it too high and wealth leaves the country so total tax taken drops, so raising tax rates can be completely counter productive.

We’ve pandered to rich people in this country for the 40 years, at least. We were told it would “trickle down”. How has that worked out?

And I can tell you, from professional experience, that properly wealthy people absolutely do not pay their fair share of taxes. They employ very expensive professionals to avail themselves of every loophole imaginable.

Why the constant boot licking in this thread? Do you work for the Telegraph?