new Tax on home owners worth over £1m

Discussion in 'The Intelligence Cell' started by ugly, Sep 21, 2009.

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  1. ugly

    ugly LE Moderator

    So according to the 90 second update, should I be one of the lucky to inherit or even lucky to be hard working enough to afford a house valued at £1m or more then according to the limp wrists aka lib dems I must pay a special tax as the Govt has fecked the economy and needs to bleed me dry.
    Now I'm not that fortunate but why if I was should I give gordo and alastair or their QC oppos, the thieving twats a penny more surely it will be spaffed away at bankers who will pay it out in bonus's.
    That will get me voting for those tossers wont it? Oh yes thats why theynever win isnt it? Outdoing liebour at everystep, literal democrats.
  2. Prob is that there are lots of little old ladies in the 'better' areas of towns like Edinburgh who have minimal income but through no fault of their own posess houses which are grossly overvalued and who will suffer.

    This is not a policy it is a stupid announcement intended to keep the lib dems in the news and has been made without any research.

    Vote Lib Dem... Naw, don't think so
  3. I love the way we get taxed on our earnings, then taxed VAT when we buy stuff, taxed on our savings, then when we die we get taxed again.
    Anyone fancy starting a company aimed at tax avoidance for the ordinary man?*

    *I might have to write a book on this.
  4. ugly

    ugly LE Moderator

    Its called a bank, barclays springs to mind!
  5. Lord Von Harley: Don't forget getting taxed on your pension as you collect it, if it's a good one! And on any substantial payout from an endowment policy WHOSE CONTRIBUTIONS YOU HAVE ALREADY PAID TAX ON!
    And import duty on a car produced outside EU, with VAT calculated on top of that duty. Truly a tax on a tax!
    And a tax levy on your insurance policy for that car......... yawn... the list is endless.

    There is a union-based tax consultancy for those based in my profession that claims to save almost every PAYE employee they advise some reclaimable income tax. They reckon average saving is about 300 quid per annum. I know Roman Abramovich probably earns that in 0.37 seconds, but it's better than a poke in the eye...
  6. The papers seem to make a big deal out of tax avoidance, the guardian always seems to be trying to stir up public disdain against banks - Barclays and Lloyds spring to mind.
  7. ugly

    ugly LE Moderator

    Ah yes the grauniad and if the eye is to be believed is less thn clean where tax avoidance or even evasion is concerned.
  8. It's the straw that's breaking this camel's back.

    I've really been very fortunate in my post-trench-digging career. I run a global trading operation at a large international bank. We didn't get involved in silly products (structured credit, lending to hedge funds, leveraged loans etc.) and haven't needed or wanted to take a penny in gov't support. We're very solvent and having a record year thus far. I work very hard (albeit nothing compared to guys in theatre). I pay a FOOKING STUPID amount of tax (>£1mm/year) and have made a point of NOT seeking to avoid tax (although I do claim back what we donate to charity). There are numerous tax "minimisation" schemes available but, strange as it sounds, I've felt a moral obligation to pay my tax (yes, unusual for a banker, I know).

    Anyway, my tax rate goes up to 50% in April, then there's NI on top, then there's VAT going back up to 17.5%..........and now these fools want to tax me further for what reason? They pay LESS tax in FRANCE for God sake.

    I could happily deal with this if there was even the remotest semblence of competence in any of the political parties here. They are an absolute shower of shit...........every fooking one of them. I won't bore you with my political gibber, but feck.........enough is enough.

    I'm packing up and heading off to HK as it really doesn't matter where I sit given I run a global business (bank HQ is in Asia/Pacific too). Effective tax rare there is around 12%, which I can further minimise with a few schemes. I'll cash out my pension and equity when I'm there too, so no UK tax on that.

    I'll take my key support people to HK too.

    Net effect.........the people/institutions who didn't lose money and DO pay their tax are leaving at the rate of knots.

    Feck 'em, I'm done being blamed for the world's problems by these feckers whilst being pick-pocketed to pay for their moat cleaning.

    Rant over, as you were.
  9. ugly

    ugly LE Moderator

    Any vacancies, I can hold a whole bunch of keys me! :wink:
  10. New Tax on home owners worth over £1m, eh? Hmm. So what happens to home-owners who're only worth, say, £900,000?

  11. Do you mean, would this brilliant proposal drive down the value of large homes? Well of course not, how could that possibly happen, it's not in their plan. I suspect that it genuinely didn't occur to the Gracious Vince that the plan wouldn't be a glorious success.

    Personally I think that we don't tax aspiration anywhere like enough in this country.

    I'm getting closer to persuading Mrs. A. that we need to get out of this Peoples Paradise. It might (almost) be worth voting Labour.
  12. It will not be up to us or the market how much our houses are worth - they will be banded by a Government Inspector & the tax levied accordingly.

    Capt Plume, we assess your hovel is worth a million because it has plumbing. Cheque or cash?

    Baroness Scotland your property is worth nothing at all. Please accept this compensation for rat infestation.
  13. Is it just me,am I the only one who is getting slighty tired of the constant eulogising of St Vince of Cable,as the great saviour of our current economic situation?

    When looking at people like this I apply my 3 law rule.

    1. Can he walk on water ?
    2. Does he need to sit down for a crap ?
    3. Would Popeye approve of what he says ?

    If the answers are,No,Yes,No. Then he is just another LibDem politico,who are always coming out with these sorts of shite ideas,knowing full well they will never be challenged on them,cos they wont get into power!

    The reason their colour is a shitty browny/yellow,is that is the stain you get on your arrse from sitting on a fence that has been covered in kreosote. :wink:
  14. It is not going to happen unless the Lib Dems get elected, or liarbour steal it
  15. Never underestimate the capacity of politicians to do dumb things.

    Take the fine sounding words on Bonus clawbacks. Yes, that will make them suffer!

    Assume in 2010/11 a £1m bo-narrse. Employee gets slug net of Tax & NIC. Employer coughs £128k NIC as well, so:

    Evil Banker: +£490K
    HM Treasury +£638K

    So, who stands to be the biggest loser on a clawback?