What is labour coming for next?

[MikeRafone]

I reckon after 12 years of dozen fuel duty that drivers will be next

what tax will the collect next to fill the black hole

The post I was replying to didn't refer to starting a business either.

Perhaps we can agree that the bosses of the companies I mentioned are paid far more than any can possibly need to be?

erm no. I'm pissed off at all my hard earned and already taxed money over £325k will be hit by inheritance tax

where you getting the £1m tax free? Have you got a link you can share?

The post you were referring to highlighted taking risk and betting the shirt off their back.
Need is relative and money is a social construct and people pay what they believe a service is worth.

Are footballers worth the millions they are paid? Well, if they give joy and pleasure to millions of people including villagers where I come from in Ogun State, Nigeria, by kicking a leather contraption in Liverpool - how do you quantify what that is worth? How do those who's lives are enriched by what they do quantify it? That is the value

Same for banks, Post Office etc

The consequences for fraud etc is a different topic

Maybe so - nevertheless, they got in the arena and took a shot. More than most have done.

I am not sure that failing because of a lack of business nous or financial acumen is something to be celebrated ?

Thanks for educating me, I had no idea insurance premium tax even existed despite obviously having paid it for years on car, house and travel insurance.

I see that it is 12% on all those things, as well as health insurance and the insurance industry is advocating to have it removed or reduced (surprise surprise).

I'm not entirely sure what you mean here, whether it's some kind of insult, or whether spelling it 'surf' is something subtle that has gone way over my head.

I agree and feel very cross with RR going on ad nauseum about the unexpected deficits. It’s just so blatantly setting us up for tax rises/service cuts. I’m sick and tired of these politicians regardless of the party thinking we’ll all fall into line.

Are footballers worth the millions they are paid? Well, if they give joy and pleasure to millions of people including villagers where I come from in Ogun State, Nigeria, by kicking a leather contraption in Liverpool - how do you quantify what that is worth? How do those who's lives are enriched by what they do quantify it? That is the value

I don't think the taxpayer is funding them with in work benefits are they ? Maybe the support staff/ground staff/people who work in the club shop flogging the shirts with their number on, are receiving those benefits ? And if they are earning that amount of money, you can bet all the houses of all those villagers in Ogun state in Nigeria that they will have access to a wealth management consultant/accountant who will ensure they only pay the absolute minimum tax they have to.

Me neither!! I had to look as I was curious.

According to Google, it is SERF not SURF which means:

a person in a condition of feudal servitude, required to render services to a lord, commonly attached to the lord's land and transferred with it from one owner to another. Synonyms: peasant, villein, vassal.

You are not alone, the point has passed me by as well.

Are you suggesting that the Chancellor should have kept quiet about the in year deficits in the governments spending plans?

Everything.

I think you are totally missing the point. We need people to establish businesses. These people create wealth through the business and the tax it pays and the people they subsequently employ.
I was simply saying you need to tax high earners and business owners at a fair level that doesn’t dissuade them from setting up businesses (with the associated risk) or doggedly pursuing a high stress or highly skilled (or both) career that often takes a large financial investment in education.
Why would anyone do these things if their standard of living doesn’t increas?

Do most high earners spend their time setting up businesses, or would we be safe taxing them at a high rate?

There are many reasons businesses fail. And many successful entrepreneurs fail multiple times before they succeed. I certainly celebrate the get-up-and-go, the courage to bet on yourself, to create value from scratch
For those who fail for lack of business acumen, it is an opportunity to learn what not to do next time (whether they learn or not is another thing).

Nevertheless, 60% of small businesses failing is not predominantly due to lack of business acumen...

The fact remains that those who make it make it against incredible odds most times and take risks most won't take and the potential reward is a factor in creating that drive

I think they should raise VAT on all unhealthy foods to 40% and also reduce VAT to zero on all healthy foods.

Can I just check, when businesses fail, should the owners just accept the consequences, or should they expect the government to bail them out?

Who determines what is healthy?

For instance my daughter when she was 2 was encouraged by her nutitionist and cardiologist to eat mars bars, preferably deep fried, so presumably they should be zero rated?

They originally ruled out increases in income tax, NIC or VAT. I'm not convinced they won't backtrack on that. The 50p tax rate will probably make a come back.

Other than that, it will probably be IHT, CGT, corporation tax, fuel duty, road tax, Air Passenger Duty, Insurance Premium Tax, increased university tuition fees. They'll be looking at everything. VAT on private healthcare?

It's quite interesting reading all the posts from those who say that taxes should be increased, but only on things which won't affect them personally. The best way of raising a large amount tax is taxing a larger proportion of the population. Lots of people want improved public services. Fewer are prepared to pay for those improvements themselves.

Taxing the top few percent of the wealthiest won't raise enough. It never does. They are the most likely to be able to move to a different country.

Legally so - and that is only wise. Who would pay tax they don't absolutely need to pay?

The taxpayer should not be subsidising employers - employees should be paiwea living wage.
On the other hand, the UK has to be globally competitive because labour (and work) is far more globally mobile than it ever was. There are ways and mechanisms to square the two without driving the revenue generating people away

I think you are totally missing the point. We need people to establish businesses.

Absolutely ! businesses that pay people a fair wage that doesn't mean the taxpayer has to support the business by supplementing their employee's wages ?

I would answer this but I see you....keep at it. Enjoy!

Electric cars, both road tax and benefit in kind for company cars.

Santagotrippedoffbyareindeer

They need to move people through and out of social housing. If you no longer need a 3 bed home you're out. Earn too much? You're out“

Agree but there’s an huge lack of 1 beds available.that needs to be rectified.

Larger second home levy in England, akin to that in Scotland.