09-10-2020, 07:21 PM
31
Re: Excess pay?
Originally Posted by swimfeeders
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HiWrong, as usual.
20% Tax for all and 40% tax for everyone earning above the limit.
No upper limit for NI and all income taxed, no different taxes for dividends, no exclusions from Inheritance Tax.
A cap on income wouldn't work either. They would just find loopholes and pay using other creative methods. Dividends etc. If that's not possible they would move from the UK. A great way to initiate a brain drain.
The main thing for HMRC to do is to pursue the big players who create a multitude of companies in order to plan their tax affairs in the most self-serving way. Close loopholes.
09-10-2020, 10:08 PM
33
Re: Excess pay?
Originally Posted by AnnieS
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None of this would work. Also no lower limit would be extremely regressive for those earning less than 10k.A cap on income wouldn't work either. They would just find loopholes and pay using other creative methods. Dividends etc. If that's not possible they would move from the UK. A great way to initiate a brain drain.
The main thing for HMRC to do is to pursue the big players who create a multitude of companies in order to plan their tax affairs in the most self-serving way. Close loopholes.
09-10-2020, 10:15 PM
35
Re: Excess pay?
Originally Posted by The Artful Todger
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It's the "big players" who create jobs for the plebs.
They should be freeing up the economy for more SME's and start ups.
09-10-2020, 10:22 PM
37
Re: Excess pay?
Originally Posted by AnnieS
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not in these days of automation and digital economics Ayn They should be freeing up the economy for more SME's and start ups.
09-10-2020, 10:45 PM
38
Re: Excess pay?
Originally Posted by The Artful Todger
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So who invests the start up capital?
10-10-2020, 11:18 AM
39
Re: Excess pay?
Originally Posted by AnnieS
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How did people build up businesses in the past? How did Virgin records start? Ikea started as a mail order business. You don't need to be a billionaire if the environment for enterprise is there.
30 years ago, 10 years before I retired I saw a couple of opportunities that were there for the taking but because of limitations resulting from the terms of my contract of employment my wife exploited but with my financial backing. Once again it required availability of capital right from the get-go.
Sources of capital do exist but still require a source of capital to access. Even buying swag lines and flogging from the back of a wagon requires capital and even then there's recurring costs and losses that eat cash.
Cold start Micky Mouse enterprises can come good sometimes but that is FAR from the general case, especially in the UK.
10-10-2020, 01:09 PM
40
Re: Excess pay?
Originally Posted by The Artful Todger
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Virgin start up was because Brandon's dad had much more than a few quid and so was able to bankroll his son who saw an opening to exploit. IKEA likewise was a well established business that diversified. 30 years ago, 10 years before I retired I saw a couple of opportunities that were there for the taking but because of limitations resulting from the terms of my contract of employment my wife exploited but with my financial backing. Once again it required availability of capital right from the get-go.
Sources of capital do exist but still require a source of capital to access. Even buying swag lines and flogging from the back of a wagon requires capital and even then there's recurring costs and losses that eat cash.
Cold start Micky Mouse enterprises can come good sometimes but that is FAR from the general case, especially in the UK.
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