Getting The UK Economy back on track

[Deleted member 21784]

I consider the raising of personal allowances, especially for the low paid is a help to people on low incomes, £20 a month to many people is a great help. If it's not a benefit to better off people then maybe an increase to higher tax brackets to claw it back would be better.

Sounds reasonable

Lower the 40% back down a bit more to where it used to be

 

[Deleted member 21784]

so how would you structure taxes to ensure it aids those who need it? (loaded question i know but the personal allowance is proven to be one of the best ways to aid those who need it)

As socket just posted. Increase the higher rate of tax slightly

Bring the 40% rate back down to what it has been previously

 

[SocketRocket]

But that's the point. They have been cutting things back for years then handing us a little money back

Could just use that money to fund things so the poorest get the help they get whilst those who don't need it can go without it......

A good way to help people on low incomes is to stop taking money off them.

 

[fundy]

As socket just posted. Increase the higher rate of tax slightly

Bring the 40% rate back down to what it has been previously

easy problem solved

 

[SocketRocket]

As socket just posted. Increase the higher rate of tax slightly

Bring the 40% rate back down to what it has been previously

Or increase it to 45%

 

[Deleted member 21784]

Or increase it to 45%

Again sounds reasonable

 

[Val]

As socket just posted. Increase the higher rate of tax slightly

Bring the 40% rate back down to what it has been previously

The 40% bracket isn't that high any more, where do you suggest it's pitched?

 

[ColchesterFC]

The 40% bracket isn't that high any more, where do you suggest it's pitched?

I would say that the limit for paying 40% is set at about the right level. Maybe they could bring in a temporary 50% or even 60% tax bracket for those earning over £100k (for example) and add in a temporary 5 or 10% tax on any online sales in the UK.

 

[Deleted member 21784]

The 40% bracket isn't that high any more, where do you suggest it's pitched?

The 40% was raised with the personal allowance for a few years

It's now set at 50,000 including the personal allowance

Back to 45,000 would be a start or bring in 45% for the 40% bracket as socket suggested

 

[KenL]

Sounds reasonable

Lower the 40% back down a bit more to where it used to be

That won't be happening in Scotland - right Nicola!

Anyone earning £26k here is already paying more tax.

 

[KenL]

The increase in tax for online sales is a great idea to boost local business.

We also need to make sure the likes of Amazon are paying tax correctly for the sales they make in this country (UK that is).

 

[Val]

The 40% was raised with the personal allowance for a few years

It's now set at 50,000 including the personal allowance

Back to 45,000 would be a start or bring in 45% for the 40% bracket as socket suggested

Not in Scotland it's not

 

[jim8flog]

To put more money in the governments coffers-

put Vat on everything and increase all benefits to allow for it so the poor are not hit by it.

The more money you have the more you are likely to spend and therefore you will give to the government.

Now we have left the EU we could bring in Laws that state that if you trade in this country by any means, such as on line, you must register for VAT in this country and pay accordingly.

 

[Deleted member 21784]

To put more money in the governments coffers-

put Vat on everything and increase all benefits to allow for it so the poor are not hit by it.

The more money you have the more you are likely to spend and therefore you will give to the government.

Now we have left the EU we could bring in Laws that state that if you trade in this country by any means, such as on line, you must register for VAT in this country and pay accordingly.

Could you not also reduce vat down to 17.5 again and boost the economy that way as if things are cheaper than people will buy more of them?

 

[Deleted member 21784]

Not in Scotland it's not

Ok, sorry I don't live in Scotland so don't overly look at the tax system there

A quick look says you have a 19% 20% 21% before you hit the 41%

I'd have to compare earnings and get back to see how that would affect my income before seeing how much it changes it but from a brief read over it seems very fair

 

[KenL]

Could you not also reduce vat down to 17.5 again and boost the economy that way as if things are cheaper than people will buy more of them?

We (in my opinion) should not be encouraged to but more cheap goods from China.

Whack VAT on those items and reduce it substantially on items built in these isles. That will hopefully encourage companies to produce more at home rather than off-shoring.

If the EU don't like it - tough! I am sure they will also want to help their own citizens.

 

[Bunkermagnet]

Whilst I dont want to punish those on very low incomes, the curent crisis has meant everyone is affected, so I don't see a problem with increasing taxation on everyone for a period of say 2 years. As I said previous, surcharges need to be placed on those who only import to us and don't actually manufacture here. We should also put a blanket ban on the sale of any British business to overseas owners. The sale of British Steel to the Indians was bad enough, but to then allow their sale to the Chinese is downright disgusting.

 

[Deleted member 21784]

Not in Scotland it's not

I have now done a calculator for the extra tax

NI the same

tax would be extra £1752 per year

im not paid monthly as im 4 weekly for some old reason i can never remember so about £135 a month less in the take home. id say it would be a fairer option of taxation for sure.

 

[KenL]

I have now done a calculator for the extra tax

NI the same

tax would be extra £1752 per year

im not paid monthly as im 4 weekly for some old reason i can never remember so about £135 a month less in the take home. id say it would be a fairer option of taxation for sure.

Sounds like you are paid too much to me...

 

[User20204]

Cancel Indy Ref 2.

One good thing since the lock down is we have never heard the SNP banging on about independence. Now is the time we all as a nation should be pulling together.

I wasn't aware there was an indy ref 2 ? When did it happen, more importantly, how did I manage to miss it.


Some kind of legislation needs to be introduced to get these massive companies paying the tax they seem to have avoided paying for however many years.