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The UK government is under many financial pressure. Additional costs for the head of US tariffs and English enterprises applied in the budget last year have discounted the UK economic growth forecast. This increases pressure to the government for reconsideration of financial calculations made only three weeks ago The expression of spring to balance the books.
In fact, it means more spending or higher taxes, but the government is due to the increase in income tax, VAT and employees of the National Insurance Contribution – HM is income and customs’ key income.
What about a wealth tax?
A person who is unhappy from the government’s policy slip may apply to many in the left of the employee party. Such a tax is a charming choice, because the differences in the Britain are wide and rich and rich and have a lot of money.
Most recent questionnaire The office for national statistics showed that the richest population’s richest rate was as much as 50 percent. Since the total wealth is more than $ 13 billion, it means that 1 percent is more than 1.3TN – a juicy target.
This wealth is more unevenly distributed than income. The Gisi coefficient controls the distribution of income (or wealth); 1 Account 1 The account of 1 means an account of an account near 0. For income, they were 0.36 in the UK’s Gini coefficient, but it was 0.59 for wealth.
The UK, of course, is not different from the difference in wealth from many developed nations. And the similarity causes a clear objection to the idea of taxes; Other nations did not follow it. Indeed, many have retreated. At the Institute of Fiscal Research, in 1990, one of the 12 OECD people, which is a wealth tax, threw it since nine. And from the combination of tax policy, Neidle says like a thinking tank: “When any new tax is offered, see previous efforts to create something similar.
There are four big problems with wealth taxes. The first decides which assets will be included; Less freedom, more money is raised, but the more complaints. To evaluate the second, evaluated wealth; For example, many wealth is closed in private companies from the stock exchange quotation. Third, the tax strives to ensure that the economic behavior does not distort, encourages the assets to transform the assets into tax exemptions (inherited taxes and farms). Fourth, it prevents the money from taxes by moving the money abroad.
At the end point, in World War II, France and West Germany, France and West Germany, in France and West Germany, in Germany, in a sudden, under the Bretton Woods system, was extremely limited to moving capital.
In the modern world, liquid assets can be transferred between national borders by shooting a mouse. So it shows the best choice to catch the best choice in surprise.
In 2020, an interview, a specialist panel, £ 260 billion or £ 260 billion or 80 billion pounds of £ 260 or 80 billion pounds of £ 260 billion by a panel of a specialist. If this tax tax is announced, it would be difficult for such a tax.
The annual tax would be more expensive to manage due to regular assessments. It is more user to prevent people from regulating their behavior to reduce bill. For this, an open road can be divided between family members; The other, the richest, could move abroad.
The commission also suggested that all resources should be included in the levy. This is both economically sensitive (to avoid inciting some type of investment in one type of other type) and to reduce tax avoidance. Such an approach would increase income, but there would be great political threats.
The tax only with the floor of £ 500,000, 8 mn Britono would keep in their own net, many do not go on well. In particular, the tax, a million pounds of houses (each equal to £ 500,000 for a pair) hit the landlords in Southeast. The starting point of £ 2 million is still holding 626,000 taxpayers, including some farmers who are angry recently Changes to inheritance tax.
A clear answer, the main house of a citizen can be excluded from Levy, but the starting point will reduce more than 500,000 pounds and £ 15 percent, 15 percent of income.
This brings us to the source of individual wealth: pension rights. Anyone under the age of 55 cannot touch the pension pot without taxes 55 percent. The commission shows that the money is expected to do not receive money from the disposable amount not retiring the money (and disposable for one-time amounts will still be taxed for free in the future). Remove any wealth tax from pensions and fall into potential product. In 2022, if the housing and pensions assess about 80 percent of the home wealth.
In short, many citizens may be active, but the poor of the money. A pension gain, a pension gain in the southeast and a pension potent in the age of 30, is not to be rich in paper, but if it spread over several years, it does not mean that it will be easy to get acquainted with a sudden 75,000 pounds (£ 1.5 million).
Some of these complications will be prevented and reduced by lifting the minimum amount of political decline and the minimum amount of taxes for 10 mn. This will only affect 22,000 taxpayers and increase £ 43 billion in five years (5 percent to 5 percent of 5 percent), according to the Wealth Commission).
Many of these rich people will have small businesses that are valuable – not an easy task for private companies. The independent assessment of each of the 5.5mn private enterprises in the UK will be a long, difficult process. Private businesses are evaluated every year for their legacy purposes, but it is smaller, because 4.4 percent of England pays the legacy tax.
The owners of a response would have to have a part of one of them in attempting to evaluate and deceive work. However, the taxes of taxes would still be high. To direct the tax to the richest, the best accountant and lawyers are to attack those who are. Neidle shows that large estate will pay the inheritance tax in half of the ratio of only by small estates. There are more assets such as art or jewelry that can be difficult to have the wealth and the tenderness or hide. The government may connect to the court for years as a super rich problem for its taxation.
Despite these objections, some countries They can apply wealth taxes. Switzerland has been using a wealth tax since the 18th century. The tax is held every year at the regional level and creates 3.8 percent of the annual income of the state. However, the total tax rates in Switzerland are low and 37 percent in England, for example, about 27 percent of GDP. High-income individuals can use the low marginal tax rate if they cross the right canton (the top federal ratio is only 11.5 percent). The highest marginal tax rate was 45 percent in England, it turned out.
Spain’s wealth tax, the largest fleece assets that reach 3.5 percent of the largest fleets are released by 700,000 euros, the main residence of the taxpayer and some of some family businesses. Levy raised 632 million euros in 2023 in 2023, and about 0.25% of the total tax revenues of Spain for 272 billion euros this year.
Britain’s annual tax revenues are up to £ 800 billion, so a levy that produces an additional 0.25 percent will be worth about $ 2 billion – 2024-25 is not enough to make a large dent of about 137 billion pounds for the financial year.
Given all these problems, the government can be understanding that they want to move. The amount of highly raised money was not worth a political storm that will result in the whole conversation of the “Socialist Confisce” in the press. This would, especially if the tax is declared as a surprise to prevent tax avoidance.
As in the inheritance tax, many people who actually do not pay taxes would still see it as a threat to their desires. By changing the tax status of those who live in the UK, some of the rich foreigners were depressed.
Finally, the government aims to attract economic growth and business investment, it would be an additional tax for those who are successful.
In any case, both capital earnings taxes and inheritance taxes, in fact, taxes are already taxed. The government has tightened part of some budget in last year’s budget, reduced relief to assets with more than £ 1.
Neidle thinks that the charges can make further progress in connection with the charged extent reduction; Many people work hard to escape this tax, because 40 percent are seen as a punitive. He also thinks that CGT can be reformed. The exchange rate can be equated with income tax, but is applied to the return of “no longer” – those who are higher than government bonds.
In IFS, the person thinks that it is coverage to increase the freedom, which allows people to eliminate assets throughout the life. There are rooms to collect more money via the plow, the price of the ratio is a smaller percentage of cheaper than the cheaper price. Scotland pushed through such a change in 2017.
Instead of crossing a new and controversial tax path of the British government, they are more likely to raise money through reforms along these lines.
You think, the latest events show that threats for individual wealth have more likely threats than the US president’s internal government.
