Brexit or Britin

[TANGODANCER]

A powerful voice to the argument: http://www.bbc.co.uk/news/business-36329178" onclick="window.open(this.href);return false;

[Beefheart]

I actually earn about £26,000 per year. I think I am well enough qualified to know if I am being taxed to death or not. I'm not!

outside of the EU - I don't see how any of your list would automatically change...

Serious question, Bish. Do vicarages etc. count as a benefit in kind?

'Where a minister is provided with housing for the better performance of the duties of the office and it is customary for living accommodation to be provided for such ministers (usually referred to as “job-related accommodation”), the value of the accommodation provided is not taxable. This applies to beneficed clergy and to other ministers with pastoral responsibilities where residence in a particular place is a necessary part of the job.'

Interesting. Do we know why this is?

From my vague memory of studying tax for my qualification I think it's a broader exemption that might apply to members of the clergy. It's the 'necessary part of the job' bit that matters.

[bedwetter2]

Once you start adding tax on alcohol, fuel and tobacco and make out that is some sort of "tax on income" you're already in bullshit territory anyway....

So what would you call it? Duty is tax and duty on alcohol, fuel, tobacco, etc comes out of your income if you purchase it.

It's a tax on consumption, not on income.

Oh how stupid of me, there I was thinking the the bottle of Scotch I was about to buy would be paid for out of my after income tax income, but instead the money comes out of my special consumption pocket which somehow never comes into contact with my income and is magically replenished because I don't know how.

[Worthy4England]

^^ There's that offshore account again...

[thebish]

I actually earn about £26,000 per year. I think I am well enough qualified to know if I am being taxed to death or not. I'm not!

outside of the EU - I don't see how any of your list would automatically change...

No you are clearly still alive, so more likely your pips are just beginning to squeak or don't you remember Denis Healey.

The EU does not impinge that much on tax apart from trying to harmonise VAT rates. At the moment. You asked the question as to whether tax rates are high. I provided a summary of what Mr Average is being relieved of annually.

well - no - this question arose in the Brexit thread and Hoboh's statement: "As you say, it's all about choices and I reckon £20 odd billion in foreign aid and to the EU is a very poor choice or should we just tax everyone to death?"

choices... the EU choice is the one he is on about (alongside foreign aid) - and suggesting that in paying less to the EU we then won't be taxed "to death"...

also - your Mr average who has an annual £100,000 inheritance that you appear not to class as "income" - doesn't look very average from where I am typing!

I think your A-level economics must be bamboozling us!

[Bruce Rioja]

I actually earn about £26,000 per year. I think I am well enough qualified to know if I am being taxed to death or not. I'm not!

outside of the EU - I don't see how any of your list would automatically change...

Serious question, Bish. Do vicarages etc. count as a benefit in kind?

'Where a minister is provided with housing for the better performance of the duties of the office and it is customary for living accommodation to be provided for such ministers (usually referred to as “job-related accommodation”), the value of the accommodation provided is not taxable. This applies to beneficed clergy and to other ministers with pastoral responsibilities where residence in a particular place is a necessary part of the job.'

Interesting. Do we know why this is?

From my vague memory of studying tax for my qualification I think it's a broader exemption that might apply to members of the clergy. It's the 'necessary part of the job' bit that matters.

Ah, which brings us nicely on to my company car.

[bedwetter2]

I actually earn about £26,000 per year. I think I am well enough qualified to know if I am being taxed to death or not. I'm not!

outside of the EU - I don't see how any of your list would automatically change...

No you are clearly still alive, so more likely your pips are just beginning to squeak or don't you remember Denis Healey.

The EU does not impinge that much on tax apart from trying to harmonise VAT rates. At the moment. You asked the question as to whether tax rates are high. I provided a summary of what Mr Average is being relieved of annually.

well - no - this question arose in the Brexit thread and Hoboh's statement: "As you say, it's all about choices and I reckon £20 odd billion in foreign aid and to the EU is a very poor choice or should we just tax everyone to death?"

choices... the EU choice is the one he is on about (alongside foreign aid) - and suggesting that in paying less to the EU we then won't be taxed "to death"...

also - your Mr average who has an annual £100,000 inheritance that you appear not to class as "income" - doesn't look very average from where I am typing!

I think your A-level economics must be bamboozling us!

Where are you typing? In the UK some 20,000 deaths resulted in the settlement of IHT demands during 2014/2015 up from 17,800 in the previous year. These figures amount to 10.4% and 8.9% of all deaths which carried any assets. The rate of increase in IHT cases is such that it is projected that 15% of all deaths will attract taxation by 2020. This will be further accelerated should the threshold remain fixed as it has been at points in the past.

Mr Average, even Mr Bolton-Average is likely to have a windfall of one sort or another at least once in his lifetime. As I pointed out, the standard rate of taxation in total is around 42%. If you then include one-off costs and income in a year, the figures are considerably distorted for that year If you are telling me that no one who has made a contribution to this discussion is likely to have such one-off costs or income at some point in their lives I'll go the foot of our stairs.

I didn't say that such an inheritance would not be income but for the purposes of HMRC and Income Tax, post estate settlement assets are not included within taxable income for the individual.

[Abdoulaye's Twin]

Ah, which brings us nicely on to my company car.

You could always get the bus

[thebish]

Where are you typing? In the UK some 20,000 deaths resulted in the settlement of IHT demands during 2014/2015 up from 17,800 in the previous year. These figures amount to 10.4% and 8.9% of all deaths which carried any assets. The rate of increase in IHT cases is such that it is projected that 15% of all deaths will attract taxation by 2020. This will be further accelerated should the threshold remain fixed as it has been at points in the past.

Mr Average, even Mr Bolton-Average is likely to have a windfall of one sort or another at least once in his lifetime. As I pointed out, the standard rate of taxation in total is around 42%. If you then include one-off costs and income in a year, the figures are considerably distorted for that year If you are telling me that no one who has made a contribution to this discussion is likely to have such one-off costs or income at some point in their lives I'll go the foot of our stairs.

I didn't say that such an inheritance would not be income but for the purposes of HMRC and Income Tax, post estate settlement assets are not included within taxable income for the individual.

it is at best disingenuous to talk about Mr Average - and then do his tax calculation for the one year in his life where he might get £100,000 windfall!

I'm typing from a place where I earn £26,000/annum (just below) and am never going to receieve an inheritance widfall of anything even remotely close to even a quarter of the windfall your "Mr Average" has just gleefully trousered...

you are increasingly reminding me of the times George Osborne talks so convincingly about the lives of the poor!

[Worthy4England]

I actually earn about £26,000 per year. I think I am well enough qualified to know if I am being taxed to death or not. I'm not!

outside of the EU - I don't see how any of your list would automatically change...

No you are clearly still alive, so more likely your pips are just beginning to squeak or don't you remember Denis Healey.

The EU does not impinge that much on tax apart from trying to harmonise VAT rates. At the moment. You asked the question as to whether tax rates are high. I provided a summary of what Mr Average is being relieved of annually.

well - no - this question arose in the Brexit thread and Hoboh's statement: "As you say, it's all about choices and I reckon £20 odd billion in foreign aid and to the EU is a very poor choice or should we just tax everyone to death?"

choices... the EU choice is the one he is on about (alongside foreign aid) - and suggesting that in paying less to the EU we then won't be taxed "to death"...

also - your Mr average who has an annual £100,000 inheritance that you appear not to class as "income" - doesn't look very average from where I am typing!

I think your A-level economics must be bamboozling us!

Where are you typing? In the UK some 20,000 deaths resulted in the settlement of IHT demands during 2014/2015 up from 17,800 in the previous year. These figures amount to 10.4% and 8.9% of all deaths which carried any assets. The rate of increase in IHT cases is such that it is projected that 15% of all deaths will attract taxation by 2020. This will be further accelerated should the threshold remain fixed as it has been at points in the past.

Mr Average, even Mr Bolton-Average is likely to have a windfall of one sort or another at least once in his lifetime. As I pointed out, the standard rate of taxation in total is around 42%. If you then include one-off costs and income in a year, the figures are considerably distorted for that year If you are telling me that no one who has made a contribution to this discussion is likely to have such one-off costs or income at some point in their lives I'll go the foot of our stairs.

I didn't say that such an inheritance would not be income but for the purposes of HMRC and Income Tax, post estate settlement assets are not included within taxable income for the individual.

Isn't this just a case of tough shit? IHT has been with us for as long as I can recall under different guises. That in itself is not necessarily a reason to keep it, but it's hardly a new form of taxation.

[Prufrock]

You're implying Mr Average's annual tax whack is £20k, almost half of which comes from one off taxes on an income you admit it's likely to happen roughly one in his life. To cap it, your corresponding income figure (£26k - off of which he loses 20k in tax!!) didn't include that one off income he's being taxed on.

[Worthy4England]

Someone will be along shortly to tell us George Osborne can't add up properly...

[bedwetter2]

You're implying Mr Average's annual tax whack is £20k, almost half of which comes from one off taxes on an income you admit it's likely to happen roughly one in his life. To cap it, your corresponding income figure (£26k - off of which he loses 20k in tax!!) didn't include that one off income he's being taxed on.

No I'm not. I don't believe you even read my original statement in which I clearly said tax for an average earner is 42%. Not including any windfall inheritance income.

[bedwetter2]

I actually earn about £26,000 per year. I think I am well enough qualified to know if I am being taxed to death or not. I'm not!

outside of the EU - I don't see how any of your list would automatically change...

No you are clearly still alive, so more likely your pips are just beginning to squeak or don't you remember Denis Healey.

The EU does not impinge that much on tax apart from trying to harmonise VAT rates. At the moment. You asked the question as to whether tax rates are high. I provided a summary of what Mr Average is being relieved of annually.

well - no - this question arose in the Brexit thread and Hoboh's statement: "As you say, it's all about choices and I reckon £20 odd billion in foreign aid and to the EU is a very poor choice or should we just tax everyone to death?"

choices... the EU choice is the one he is on about (alongside foreign aid) - and suggesting that in paying less to the EU we then won't be taxed "to death"...

also - your Mr average who has an annual £100,000 inheritance that you appear not to class as "income" - doesn't look very average from where I am typing!

I think your A-level economics must be bamboozling us!

Where are you typing? In the UK some 20,000 deaths resulted in the settlement of IHT demands during 2014/2015 up from 17,800 in the previous year. These figures amount to 10.4% and 8.9% of all deaths which carried any assets. The rate of increase in IHT cases is such that it is projected that 15% of all deaths will attract taxation by 2020. This will be further accelerated should the threshold remain fixed as it has been at points in the past.

Mr Average, even Mr Bolton-Average is likely to have a windfall of one sort or another at least once in his lifetime. As I pointed out, the standard rate of taxation in total is around 42%. If you then include one-off costs and income in a year, the figures are considerably distorted for that year If you are telling me that no one who has made a contribution to this discussion is likely to have such one-off costs or income at some point in their lives I'll go the foot of our stairs.

I didn't say that such an inheritance would not be income but for the purposes of HMRC and Income Tax, post estate settlement assets are not included within taxable income for the individual.

Isn't this just a case of tough shit? IHT has been with us for as long as I can recall under different guises. That in itself is not necessarily a reason to keep it, but it's hardly a new form of taxation.

The tax take is increasing at a rate of 10% per annum in the case of IHT. No the tax is not new but it amounts to an iniquitous example of double or triple taxation. Easy for the Treasury to manipulate when they choose and particularly humane in the view of surviving relatives of the deceased at times of vulnerability.

[Worthy4England]

What you never had etc...folks generally only kick off about IHT when their "turn" comes round, so it's probably a fairly easy target.

[Prufrock]

People who rage about IHT is my handy shortcut for divs. It's a nonsense.

[Hoboh]

A powerful voice to the argument: http://www.bbc.co.uk/news/business-36329178" onclick="window.open(this.href);return false;

Now, surprise, surprise I wonder why he said that?

Mr Yamamoto was speaking during a visit to Tokyo by George Osborne, who is in Japan for the G7 summit in Sendai

So the Japs tell us to stay in the EU, I'm just waiting for Mother Merkel to do so

Cameron is working hard to get Santa to pay an early visit and push vote remain.

[Hoboh]

Just gets better

Now the feckin' irritating, migrant cuddling lovies are jumping on the remain bandwagon

http://www.theguardian.com/politics/201 ... oma-faith-" onclick="window.open(this.href);return false;

Come on Merkel, not like you to be shy!

Compared to this lot even Boris isn't so bad

[thebish]

despite many posts begging her to join in - it sems Hoboh has been stood up by Merkel... again, and again, and again... {sadness}

[thebish]

some classy campaigning going on this week...

Vote Leave leaflets targetted on the issue of the NHS have been found around the wards at Guys Hospital...

On the back it asks whether it is safer “to keep sending hundreds of millions to the EU every week, or vote to put that money into our priorities like the NHS and the Cancer Drugs Fund?”

ahhhh... so we are voting to give money to the Cancer Drugs Fund now?