Budget 2021. What 1 change would you make?

[SocketRocket]

Remove inheritance tax

 

[Kellfire]

Go for the 'short, sharp shock approach'. Work out how much you would need to increase income tax to the middle and high rate bands to repay a good chunk of the covid debt over the next 5 years and apply that. Put in place cast iron laws to reduce it back to current levels when the debt reaches an agreed level.

Oh and move the end date for the stamp duty holiday. I really do not fancy having to deal with that in 3 weeks, especially when many transactions are held up due to delays in local authority searches caused by covid.

I think the stamp duty holiday extension is the worst kept secret in this budget.

 

[Deleted member 18645]

Make the rate of income tax in line with your handicap …. the lower your handicap, the less tax you pay.

 

[GB72]

I think the stamp duty holiday extension is the worst kept secret in this budget.

Pretty much but the pandemic has seen the time taken to produce a local search mover form 2 weeks to 8 weeks in a number of authorities that I deal with and so, basically, if they did not extend it anyone who found a property after xmas was going to be out of luck.

 

[jim8flog]

Make Tax Avoidance illegal.

To make tax avoidance illegal would require a change to just about tax law going.

I hope you are not confusing it with tax evasion which is illegal.

 

[jim8flog]

Switch road tax to more duty on fuel. The more you use the roads, the more you're taxed. This will also catch the foreign lorries coming to the UK, using the roads but paying no road tax, assuming they fill their tanks here.

I have advocated this for years but would also take in to account the OP electric vehicles do not pay any form of road tax but still use the roads and adding the tax to to fuel tax would still mean them paying no tax. Add further to this I would like the third party portion of car insurance added to fuel duty so everybody who drives has insurance.

 

[Deleted member 16999]

To make tax avoidance illegal would require a change to just about tax law going.

I hope you are not confusing it with tax evasion which is illegal.

I know exactly what I put and what I meant.

 

[jim8flog]

It is illegal.

It is not

Tax Evasion is illegal

 

[jim8flog]

I know exactly what I put and what I meant.

So the local self employed builder would not be allowed to put all the expenses of of running a business against his tax bill .

Nobody owning a business would be allowed to be treated as director and must be treated as an employee and so the lists go on

 

[Bunkermagnet]

Come on lads, I was hoping to keep this calm, collected and perhaps considered, which is why I said “1” change to the budget. There has to be no explaining of ones choice needed

 

[jim8flog]

Remove the upper limit on National Insurance.

A lot of the additional expenditure incurred has gone to this country's health system and it needs paying for.

 

[Deleted member 16999]

Come on lads, I was hoping to keep this calm, collected and perhaps considered, which is why I said “1” change to the budget. There has to be no explaining of ones choice needed

I thought your op was quite clear, ??

 

[Beezerk]

not for me. I already pay 40% tax and don't wish to pay any more

Ditto, I don't work weekends as I'll basically be working for half the overtime rate once it's had deductions. Not worth getting out of bed for imo.

 

[Deleted member 25172]

Make the rate of income tax in line with your handicap …. the lower your handicap, the less tax you pay.

I'd suggest to make playing golf mandatory for all then and with the WHS going up to 54, the national debt would be paid for in no time!

Now, where is that lobby group?

 

[Deleted member 21784]

Rate it on KwH?

As in kWh the battery can hold? So if you get an older leaf (24kw) you pay less than my Corsa (50kw)

Just fill it up more to go further ahav

 

[Deleted member 21784]

Follow the lead of the progressive countries and remove VAT from sanitary products.

Hasn't this happened already? Think happened on the new year

 

[Deleted member 21784]

yes, but your point a second ago was that people would be apprehensive to spend, and on this occasion they would Be right to be so.
do we want to trick peope into spending money as acts all it is, when t
here are likely massive redundancy/sackings around the corner?

Exactly why spending your way out of recession can help boost the economy and create jobs

More jobs will go if nobody spends

 

[Deleted member 21784]

Ditto, I don't work weekends as I'll basically be working for half the overtime rate once it's had deductions. Not worth getting out of bed for imo.

Ah see 40% tax or not if there overtime going at weekends count me in lol gets me out the house atm!!!

However our weekends are 12 hours and our standard nights are 10 hours so does make it more attractive

 

[Lord Tyrion]

Follow the lead of the progressive countries and remove VAT from sanitary products.

It was removed on Jan 1st 2021. They couldn't remove it earlier for reasons that the date should give away.

 

[Deleted Member 1156]

Come down hard on the tax avoiding large multinational companies. If Amazon, Starbucks etc were given the option of pay full UK tax or get out the country I'm pretty sure they would stump up.