UK Road Tax on EVs coming?

[Bobzilla]

Spot on, albeit I think the BIK incentives are a good thing and given the s***-show of tax increases and BS we have to put up with as business owners nowadays, they seem like they are fair and also of a 'time'. I also will add that those who have managed to own a home at a cost reasonable to their wages is also a similar kind of thing, given those homes are now worth silly money. But I honestly am only saying this with a wink and a nod because really it's all BS.

Agree on the tax. Lower the taxes to a low level, make every single company pay them and you'd earn a lot more tax. Stop taxing low wages, stop the rest of the ridiculous rubbish that goes on in Whitehall and get back to governing the country in the interests of the people that live in the country, not just a well heeled few. And admit that taxes are basically a way to ensure people live in fear and keep the rich, richer

Back to the original point. I think it was inevitable to add tax, but it really should be a wider view on your carbon consumption. It would also be nice to see some actual attempt to clean up the human races habits, but just will not happen because: profit.

As you say: we'll be a blink of the earth's eye and will work our way out of existence at some point, which is a very small dot of time relative to the timeline of the planet.

A bit deep for a Monday for me. I need to have a lie down, expect y'know...work

Perhaps sir could identify which companies don't pay corporation tax? Apart from pension funds and charities, there aren't any. Taxing pension funds is totally self defeating, and whilst you may disagree about the definition of charity, the concept of not taxing things that are rightly charities is not controversial.

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[kempez]

Perhaps sir could identify which companies don't pay corporation tax? Apart from pension funds and charities, there aren't any. Taxing pension funds is totally self defeating, and whilst you may disagree about the definition of charity, the concept of not taxing things that are rightly charities is not controversial.

The fact that huge corporations avoid paying their fair share of Corporation Tax is well documented and easily available information

 

[TaycanHero]

Try 1798.



Liz truss essentially tried that argument. It nearly crashed the country.



As someone who does corporation tax for big business, I have one thing to say about that. Absolute bollocks.

1798 and then rescinded some 20 years later. We are now almost 110 years later from 1913 and still it remains, where each time it was introduced, it was used to pay for a war. WWI ended. Income tax didn't.

Liz Truss economic policy never got implemented, so it did not "crash the economy". It was already teetering after decades of mismanagement and corruption, which simply came to a head post-pandemic. Truss was a convenient scapegoat to parachute in Sunak with less protest. Politics.

Big business and the super wealthy do pay less tax. I agree, not "nothing", but less. It's far easier to offshore vs. a small business who is stuck under the jurisdiction of one country.

Who pays the most tax is the middle classes and SMBs.

 

[Bobzilla]

The fact that huge corporations avoid paying their fair share of Corporation Tax is well documented and easily available information

No, the fact that large corporations pay less than what people think they should is well documented.

Take Apple. They don't make their money from bits of plastic and metal. They make their money from software. From the app store sales. What they make their money on is stuff that they develop largely in California, not the UK. Realistically the profitability of what they do in the UK is minimal, perhaps even loss making.

Starbucks didn't pay any uk corporation tax not because they were finding anything but because the cost of their corporate strategy was horrendous. Having loads of coffee shops didn't have a significant impact on their market share, but it massively increased their cost base.

You believe what you want to believe, but the actual truth is very different. The pubic gets their information fundamentally from one guy with an agenda. I do this day in day out. Trust me, your being told things from, in the words of Ben Kenobi, 'a certain perspective'.

 

[kempez]

You don’t actually know where I get my information from, tbh chap. So I’m quite happy with my point of view and well aware of how much tax is avoided by large companies

 

[Bobzilla]

1798 and then rescinded some 20 years later. We are now almost 110 years later from 1913 and still it remains, where each time it was introduced, it was used to pay for a war. WWI ended. Income tax didn't.

It's been pretty much continuous since 1798 apart from a 25 year gap from 1816 to 1841. There has been the odd year where it wasn't in place, but it has fundamentally been a permanent fixture from 1841.

Liz Truss economic policy never got implemented, so it did not "crash the economy". It was already teetering after decades of mismanagement and corruption, which simply came to a head post-pandemic.

It never got implemented because the cost of borrowing soared so much at the official announcement of it that it had to be u-turned on. Her policy nearly crashed the economy, and only scrapping it entirely stopped that.

The top 5% pay 50.3% of all income tax, and the top 1% pay 28.3%. NICs are more complicated and most of it is paid by middle earners, but the real beneficiaries of NICs are middle to lower earners. But employers NIC can be obscene on high earners because the rate doesn't drop as it does for employees.

So sorry, but whatever you might think about where the tax burden actually falls, the reality is the figures do not support your assertions.

 

[Bobzilla]

You don’t actually know where I get my information from, tbh chap. So I’m quite happy with my point of view and well aware of how much tax is avoided by large companies

All I can say is that if you were well aware, you would be well aware that actually your information is about 10 years out of date. Tax avoidance might have been the order of the day in 2007, but you cannot do that now. The reputational cost is just too high.

If UK companies avoid tax, it usually isn't uk tax they're avoiding.

 

[Bobzilla]

You don’t actually know where I get my information from, tbh chap. So I’m quite happy with my point of view and well aware of how much tax is avoided by large companies

And where I get my information from? I'll be open. I'm a chartered accountant with 18 years experience working exclusively doing corporation tax for large (ftse 100 and equivalent inbound) companies, implementing and defending high value tax structures. My work has been featured in a number of national press outlets.

I presume your credentials are similarly impeccable?

 

[TaycanHero]

And where I get my information from? I'll be open. I'm a chartered accountant with 18 years experience working exclusively doing corporation tax for large (ftse 100 and equivalent inbound) companies, implementing and defending high value tax structures. My work has been featured in a number of national press outlets.

I presume your credentials are similarly impeccable?

Wow. I'm surprised your arrogance has given you such an illustrious career.

We keep things in good humour here. I'm not sure if your intellect would ever understand such a thing.

Making friends enriches life. Please continue lecturing us, oh great accounting Sun God.

 

[TaycanHero]

It's been pretty much continuous since 1798 apart from a 25 year gap from 1816 to 1841. There has been the odd year where it wasn't in place, but it has fundamentally been a permanent fixture from 1841.




It never got implemented because the cost of borrowing soared so much at the official announcement of it that it had to be u-turned on. Her policy nearly crashed the economy, and only scrapping it entirely stopped that.

The top 5% pay 50.3% of all income tax, and the top 1% pay 28.3%. NICs are more complicated and most of it is paid by middle earners, but the real beneficiaries of NICs are middle to lower earners. But employers NIC can be obscene on high earners because the rate doesn't drop as it does for employees.

So sorry, but whatever you might think about where the tax burden actually falls, the reality is the figures do not support your assertions.

So just to get this right, pre Truss economic policy, everything was perfect and there was nothing wrong with the UK economy?

Got it.

Thank you for the clarification.

 

[Bobzilla]

So just to get this right, pre Truss economic policy, everything was perfect and there was nothing wrong with the UK economy?

Got it.

Thank you for the clarification.

Not what I said at all. But pre Truss our cost of borrowing was pretty stable. The minute Kwarteng sat down from THAT speech our cost of borrowing jumped. Markedly.

Things were tight before that speech, but that speech busted the trust that the market had that our government had some semblance of competence. The speech that said 'don't worry, we can lower taxation because 'growth', and borrowing will pick up the tab'. I.e. The policy that you basically just proposed.

 

[Bobzilla]

Wow. I'm surprised your arrogance has given you such an illustrious career.

We keep things in good humour here. I'm not sure if your intellect would ever understand such a thing.

Making friends enriches life. Please continue lecturing us, oh great accounting Sun God.

Ah yes, the 'had enough of experts' approach.

I'm happy making friends. I'm happy playing nice. I'm happy keeping things in good humour. What I'm not happy with is people lecturing me on my mastermind specialist subject. It's not arrogance if your job is being right on a particular subject. Arrogance would be not having the trousers to back up the mouth.

A bit like if I were to lecture a Porsche mechanic on the service life of a part based on my own singular personal experience, or what I'd read on the internet. Now THAT would be arrogance. Which is why I don't do it.

I'll continue to correct commonly held beliefs that are actually not based on reality on my specialist subject. You are of course free to not look.

 

[W1NGE]

Most of this thread is OFF TOPIC!

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