Multinational forced to pay some tax

carmanmemoranda said:
The whole tax system needs a full overhaul.

But it won't get done whilst those who benefit the most from it are in charge of it
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You will never come up with a solution to the global 1% who have the ability to organise their finances in such a way to reduce their tax burden. Every time you try, they will just take their wealth elsewhere. The whole world talks about fair rules, but every country wants high net wealth individuals to domicile in their jurisdiction.
carmanmemoranda said:
Are you talking percentage of total income, or actual £'s ?
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Here are some different examples:
Screenshot 2023-12-17 at 12.32.57.png



A reminder the person on £200k gets the same state pension, the same NHS treatment, the same qualifying years etc as the person on minimum wage.

EDIT: to correct formula error.
 
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motorbiking said:
You will never come up with a solution to the global 1% who have the ability to organise their finances in such a way to reduce their tax burden. Every time you try, they will just take their wealth elsewhere. The whole world talks about fair rules, but every country wants high net wealth individuals to domicile in their jurisdiction.


Here are some different examples:

View attachment 325542

A reminder the person on £200k gets the same state pension, the same NHS treatment, the same qualifying years etc as the person on minimum wage.
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And that's only part of the picture. Of course
 
It's normally those who pay hardly any who moan about others paying more.
 
It's no surprise that a person EARNING a million pounds pays more income tax than a person EARNING a thousand pounds. That's how income tax works.

But it is unjustifiable that a person RECEIVING money by way of dividends, capital gains or carried interest pays lower rates of tax than a person who receives his money by way of wages, and pays no National Insurance on them.

As we see, it's the people getting the most money, and the specially reduced rates of tax, who moan the most.

Motorbiking moans a lot.
 
Perhaps you should stop worry about other people's tax affairs and MYOB or maybe you could declare profits on your investments as income and pay more tax.
 
Or perhaps I should join those who think that tax should be fairer and there should not be special favours for the rich.

Tax rates are everybody's business.

It's very noticeable that in your table of examples, you use the term "gross income" but pretend that even the top 1% receives no dividends or carried interest or rental income, and you omit their capital gains.

I also see from your NI column that you assume they are all under State Pension age. Which is impossible. Richer people are generally older.
 
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There are no special favours for the rich. Did you see my worked examples.

Shall we talk about the growth of your capital portfolio and see if we can find more tax for you to pay.
 
motorbiking said:
There are no special favours for the rich.
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Nonsense.

Do poor people commonly receive thousands of pounds of dividends per year?

How about rich people?

What sort of people commonly receive thousands of pounds of Capital Gains?

Is a person who receives a million pounds of Carried Interest a poor person or a rich person?
 
motorbiking said:
You will never come up with a solution to the global 1% who have the ability to organise their finances in such a way to reduce their tax burden. Every time you try, they will just take their wealth elsewhere. The whole world talks about fair rules, but every country wants high net wealth individuals to domicile in their jurisdiction.


Here are some different examples:

View attachment 325542

A reminder the person on £200k gets the same state pension, the same NHS treatment, the same qualifying years etc as the person on minimum wage.
Click to expand...

MBK do you think it is fair that there are millions of people who work hard but only earn a low wage, a wage which means they cant afford to sustain the basics like heating their house or always having enough food to eat


You are wrong about “a person on £200k gets the same state pension, the same NHS treatment”. A person on £200k has the luxury to afford private healthcare, a private pension.

How many people earning £200k a year are one of the people on the NHS waiting list? Not many because they can afford to get their operation quickly and not have their life on hold.


I have nothing against people earning way more than others.

I do have a problem with lower earners not being able to afford enough heat and enough food
 
carmanmemoranda said:
The whole tax system needs a full overhaul.

But it won't get done whilst those who benefit the most from it are in charge of it
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When you think about it, certain core things have always been so and to a large extent will always be so. Not saying I agree or disagree, just stating the fact.

Since year dot, all around the world, there have been those in/with power and those without. There have been rich and poor, greedy and dishonest, not greedy and honest. Those who want to share their wealth and power, those who don't. Those who are happy to pay their full whack in taxes and then some, those who try to paid the bare minimum and if possible less.

None of these trait related things will dramatically change. Politicians spout their rhetoric in an attempt to appease the masses, as does big business. Meanwhile, in the background, the rich get richer and poor get poorer.

Anyone who thinks this will ever dramatically change is deluded.
 
JohnD said:
But it is unjustifiable that a person RECEIVING money by way of dividends,
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JohnD said:
That's sad.

As an anti-Brexer, I naturally moved most of my pension and other nest egg into European and International sectors.

I believe Rees-Mogg and his buddies did something similar. Perhaps they didn't believe the lies they told.

I see FEV is up 40% since the 2016 referendum, having fallen 12% since 1 Jan.
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Remind us all how much in dividends you received and the amount of tax paid on them from your top performing European investments.
 
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