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Where Taxpayers and Advisers Meet

how likely is this..

riccardob
Posts:130
Joined:Sun May 29, 2011 10:02 am
how likely is this..

Postby riccardob » Wed Sep 05, 2018 12:01 pm

http://www.dailymail.co.uk/news/article-6132509/Archbishop-Canterbury-declares-wealthy-families-pay-tax-help-poor.html

Basically seven year rule would be scrapped and gifts taxed at income tax rates so potentially 50% tax per gift....

I ask the experts on this forum, how likely do you see something like this happening in the future?

Funny how a man of the church proposes this yet nothing about the Church wealth being taxed but there we go.

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: how likely is this..

Postby maths » Wed Sep 05, 2018 2:38 pm

According to Wikipedia:

"Taxation[edit]

Welby maintains that tax avoidance is wrong and that many wealthy companies do not pay as much tax as they should. Welby said, “It is clear that a company that has a turnover of several billion and yet pays only a few million in tax, something isn’t quite working there. It is to do with transfer pricing, there are all kinds of explanations, but people who earn money from a society should pay tax in that society for the common good, for economic justice.”[72] Welby said:

What is clear is that tax should be a fundamental part of being a citizen, and that those who have the most should pay the most. And that no company, through being multinational, being global, can evade the responsibilities of paying its proper amount of tax, based on the revenues it earns in this country. So yes, some people will need to pay more. I'm not going to point at individuals, but certainly we see people and companies that seem not to pay what sounds like a reasonable amount of tax."


I wonder whether he thought and practiced this when he was treasurer at Enterprise Oil Plc or when he worked for Elf Aquitaine?

How about giving the poor some of the Church of England's £8 billion??
https://www.spectator.co.uk/2018/01/why-the-sleepy-old-coe-is-just-a-greedy-moneygrubbing-property-tycoon/
https://www.britpolitics.co.uk/scotts-blog/52-pages-hypocrisy-church-tax

How does Archbishop Welby justify the unchristian act of forcing Adrian and Gail Wallbank to sell their farmhouse after being presented with a £230,000 repair bill for St John the Baptist church in Warwickshire (given the Church's own ability to pay for this work).
https://www.theguardian.com/money/2009/sep/28/glebe-farm-church-bill-sale

The article in the post states "Using his faith to justify his proposals, the Archbishop says: 'As a Christian I start with learning from Jesus Christ that people matter equally, are equally loved by God, and that justice in society matters deeply – a theme that runs throughout the Bible.' "

The Church and others are notorious for turning to the scriptures to justify their stance when it suits. When attempts were made to abolishing the extremely barbaric act of "hanging, drawing and quartering" as punishment for treason Lord Coke (and others) argued that such acts were acceptable as they were to be found in the Holy Scripture: Joab was drawn; Bigthan hanged; Judas disembowelled; Sheba beheaded; and Rechab and Baanah quartered. Fortunately, despite support from the Scripture, the punishment was abolished albeit only in 1870.

"People inn glass houses.....".

riccardob
Posts:130
Joined:Sun May 29, 2011 10:02 am

Re: how likely is this..

Postby riccardob » Wed Sep 05, 2018 6:48 pm

Maths i agree with all you said but i was hoping for you to say whether you think this is actually likely to happen or not. ;)

imho if it did hwppen i think there would be an exodus of taxpayers.

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: how likely is this..

Postby maths » Wed Sep 05, 2018 9:25 pm

Got carried away!!

No; won’t happen.

AGoodman
Posts:1738
Joined:Fri May 16, 2014 3:47 pm

Re: how likely is this..

Postby AGoodman » Thu Sep 06, 2018 12:01 pm

IHT is now a serious tax - i.e. the Govt now receive serious income from it. I doubt they will want to play with it, not least because there would be winners and losers and only the losers are likely to remember.

pawncob
Posts:5090
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: how likely is this..

Postby pawncob » Fri Sep 07, 2018 12:19 pm

AS the state already takes over 90% of my wealth, nothing would surprise me (especially if JC gets in). (Would that be the second coming?)

I don't think it'll happen, but...……… (I hear Madeira's nice)
With a pinch of salt take what I say, but don't exceed your RDA


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