What would you do to raise money back after corona?

[arethereanyleftatall]

If you were in the government, what taxes/cuts would you put in place after we've all gone back to normal life?

I think I might raise VAT, or possibly have a means-tested state pension.

UC is not an option for people who have been self employed for a long time
because shock ! horror! many of them have built up savings ready for retirement
which would have to be destroyed to be eligible for UC

ListeningQuietly but that's always been the case well always since UC was derived people lost their jobs and livelihoods before the lockdown and can't claim UC due to their savings , would you think it would be ok for someone who lost their jobs in say January due to no fault of their own to be denied benefits while people who lost their jobs due to the virus were able to claim?. The rules for savings have not changed the only changes is that more people are now having to claim who have not had to claim before and may have to be on it for longer if the job situation does not change

Start charging a nominal amount for DNA for NHS appts. That would be a nightmare logistically but would bring in a lot of money.

I would agree with this if I thought the system could cope with it but much as I respect and admire the frontline workers in the NHS, the system is completely broken and inefficient. I have been berated several times for not turning up to hospital appointments when every time I have phoned in advance to cancel. My elderly uncle was told he had missed an appointment when he never received the letter for it. It offends mr that I was counted as not attending when I made every effort to let them know, I'd be even more pissed off if i was fined for it!

Agree with pp about not raising VAT as this just makes so many things more expensive when they want to get people spending money to boost the economy. Also could possibly create a black market for certain items, and encourage more people to take cash/try to fiddle it.

Reduce / Stop Legal Aid - especially to countries which are either corrupt (some African) or cannot spend it sensibly (having a Space Station - India!)

Tbh to raise the amount of money we need, we would have to look at something like raising VAT, raising the basic rate of income tax or making the state pension means tested.

Taxing the “rich” or “making sure large companies are taxed properly” is meaningless. What do you mean properly? It’s a total myth that any large companies in the UK are routinely tax evading and there are many many anti avoidance rules already in place. I used to work in tax - it’s easy to come up with stuff like this from the tabloids but actually wealthy individuals and large companies are already paying the lion’s share of tax in the country and there are no easy answers there. If you want to make some changes to tax, be specific as to who are the rich you want to tax or which “loopholes” you wish to close. Anything else is just nonsense.

Cayrol
I did list the loopholes.
I was a consultee on the Tax simplification project.
The gap and shortfall could easily be closed if there was the will.

As of tonight, Sunak said that his schemes have cost around £100bn
( £100,000,000,000.00 )
but as that is half the upper level of Trident costs and equal to the lower level
cancelling trident would pay for COVID

Legalise medicinal cannabis

@letmethinkaboutitfornow - emm we don’t pay legal aid to foreign countries. Foreign aid is often helping the very poorest globally and can benefit the uk in terms of trade. We had nothing to do with India’s space program

@ListeningQuietly - no you didn’t list any loopholes.

You want to put up capital gains tax - fine but that’s not a loophole. It’s a tax rise.

You want to “strike off Companies that file false accounts immediately” - Wtaf? Presumably you mean from companies house? What evidence do you have that any company is filing “false accounts” at companies house? In any event if they are it’s nothing to do with their tax liability and they can already be struck off.

Non-dom status already has an annual tax charge so abolishing it would be unlikely to raise anything.

I have no idea what you mean by “prohibiting transfers to countries without public share registers”. Transfers of what? You do realise this includes the USA.

I won’t go on as it’s pointless.

I really hope you weren’t actually a “consultant in a tax simplification project” as you don’t have much idea about law or tax. But you likely were.

Cayrol
You want to put up capital gains tax - fine but that’s not a loophole. It’s a tax rise.
people who treat capital and carried interest have created the loophole

What evidence do you have that any company is filing “false accounts” at companies house?
Bucket loads
from Private Eye, the Economist and London court hearings

Non-dom status already has an annual tax charge so abolishing it would be unlikely to raise anything.
You assume that the benefit to Lord Rothermere is worth less than £30k a year. I don't

I have no idea what you mean by “prohibiting transfers to countries without public share registers”. Transfers of what? You do realise this includes the USA.
Yup
Delaware, Bermuda, the Virgin Islands, the Isle of Man
The simplest way to stop tax avoidance is to shine sunlight on it.

I really hope you weren’t actually a “consultant in a tax simplification project” as you don’t have much idea about law or tax.
Consultee
and what year did you pass your CCAB exams ?

@ListeningQuietly - what rubbish. So called “carried interest” is generally treated as income in an LP in the Uk but it depends what it is as a matter Of tax law. The carried interest issue is an issue in the US tax system not here.

Capital gains tax and income tax have always been different taxes to capture different things. It’s not a “loophole” You don’t understand the issue here.

Taxing non doms on their worldwide income (they have to pay tax on their UK income already of course as well as the non dom tax charge) would be unlikely to raise any more taxes as these are essentially people with close connections to other countries. They would move away. In any event, personal tax of a few individuals would raise very little.

Transfers of yup? What are you talking about? Transfers of what? Bermuda and the Isle of Man both have public share registers same as Uk and there is no such country called the “Virgin Islands” You’ve watched but not understood too many Panorama episodes.

Consultee - lol. The government consults everyone who’s interested generally in these things.

International tax and law is a complex issue. You can’t understand it but reading a tabloid.

By reading a tabloid that should be

Also you don’t have “bucketloads” of evidence that people are filing fraudulent accounts at companies house. That’s already an offence anyway and one for which striking off may well not be appropriate (as it would mean the company would cease to exist so make more difficult for wronged parties to get recourse).

Tax companies who are off shore for working here (amazon etc).

The UK and the USA and other European countries foreign aid should stop, when they make reparations to all the countries affected by colonisation and slavery and illegal wars, etc

Foreign aid is most often historical and at 0.07p per £1, it's not actually alot.

The removal of resources from many countries over centuries still affect these countries to this day. Fix that and then foreign aid should stop.

Simply cancel Brexit, trident and hs2.
Stop the political footballing of the NHS and education.

Stop austerity.

Fix the legal rules that allow companies like Amazon to pay less tax.

Cancel quangos.

Scrap the roll out of UC and reinstate the legacy benefits as the framework and rules is still there or better still bring out a fair way of doing a universal basic income.
Stop mps getting a breakfast, lunch and dinner allowance and subsidised food at the house of commons. If someone on universal credit of £250 per month does not get extra for breakfast, lunch and dinner, why on earth does an mp get it?
Tax those who choose to drive a large engine gas guzzling car.
Tax homes over £2 million.