Tax Fairness

Tax Fairness

Over the weekend, John McDonnell promised that Income Tax would not rise for most of the country but that a higher rate would be levied on those earning more than £80,000. Tax reform can be pretty technical; and so one needs to look at one or two things without losing sight of the idea that the richer should pay their share. Each tax payer has a personal allowance of £11,500 i.e. the first £11,500 of earnings is not taxed; this is clawed back if one’s income is £100,00 or more by levying a 60% marginal rate on those earning between £100,000 and £121,200. There is probably enough room for a new additional rate between the 40% levied at £42,000 and 60% levied at £100,000 and £80,000 p.a. is a lot of money; only 3% of income earners get that much. It will remain necessary to increase the amount paid by those earning more than £145,000 and redress the regressive nature of National Insurance, which negates much of the 20% band, converting it into a 32% tax burden. Labour’s promise is also that there will be no increase in employee NICs nor in VAT, although again that’s not enough … VAT has to come down from 20%. …

We are all in this together

Oh Non Dom we’re not! Miliband announces that a Labour Government will abolish so called #non-dom #taxrelief and the Tories defend the rights of ultra rich to avoid paying their fair tax share. #ge2015. The story spirals out of the Tory’s control, becomes more about tax avoidance by the rich.

This is a storify I made at the time and have transferred it to this blog and published as at the date created. …

Professionally published again

Professionally published again

I have finally been published on my employer’s web site blog. The article, Conflicting Data Requirements: Privacy versus Transparency looks at the countervailing tendencies by governments legislating for citizen privacy and tax transparency. The article concludes with a series of technical challenges to meet the needs of both political initiatives. The article was syndicated on the Tabb Forum, and you can read that here. The article was originally provoked by a Gartner Press Release which suggests that location and the need for specific jurisdictional compliance will reduce as costs and …  …

Budget 2013

Osborne’s budget was not good for him and the Tories, and they were partly lucky, and partly cunning as they buried in stories that focused on other issues. There were four headline issues to consider, Macroeconomics, Tax, Housing and Beer. …