Does Dyson intend to buy England

[Beowulf]

I think you'll find this one case quite true, Private Eye has done several pieces on it.

It would only be true if the individual in question had managed to secure an exemption to the law specific to him. Given that all legislation is published in this country, and no such exemption exists, we can conclude it is made up fairy stories. If you can show me the piece of legislation which implements said exemption I might be willing to take it seriously.

Quoting (or implicating) Private Eye, a publication famous mainly for publishing falsehoods and then having to beg the readership for money to defend the libel claims, is not in itself any sort of proof.

 

[MrNoo]

Fair enough!! I shall look forward to seeing how much CGT he pays then!!

 

[Beowulf]

Fair enough!! I shall look forward to seeing how much CGT he pays then!!

He'll pay exactly the same amount as you or I, as UK residents would, as per the amendments to the Taxation of Chargeable Gains Act 1992 (amended)

 

[MrNoo]

https://badboysofbrexit.com/2018/01/16/richard-tice/
Detail here

 

[Beowulf]

https://badboysofbrexit.com/2018/01/16/richard-tice/
Detail here

That's not detail, it's propaganda. What's worse is it's riddled with inaccuracies.

Quoting an article which quotes Private Eye does not make something true. I'm not sure why you're struggling with this.

The fact is that since April 6th 2015 foreign resident individuals and corporate entities have been required to pay Capital Gains Tax on disposals of UK land or buildings, just like everyone else. It would take you all of 60 seconds on Google to confirm this, or search the legislation.gov.uk website if you're more inclined.

 

[turbo]

UK VAT standard rate has been 15%, then 17.5% and now 20%.
There is a lower discretionary rate of 5%
There is the possibility of being exempt of VAT.
There is a Zero rate applied to Billions of Pounds of goods sold and purchased every year.

I am amazed that any of this seems to be a mystery to some people. Why should the least bit of attention to people so ignorant that they are unaware of this? People that work in agriculture being unaware of the Zero rate is beyond comprehension. I am amazed.

The rate of Purchase Tax which preceded our entry to the EU was 25%. Combine your ignorance of this and the fact that a Zero VAT rate even existed, and that VAT was fairly recently set in the UK at 15% and I do not put much store by your opinion.

I don’t give a dam about what happened before but the fact is you told a lie about the eu not involved in our tax system when clearly it is so I will ask again could the uk decide to make something zero rated that is charged now at the full rate without asking the eu first

 

[TheTallGuy]

I don’t give a dam about what happened before but the fact is you told a lie about the eu not involved in our tax system when clearly it is so I will ask again could the uk decide to make something zero rated that is charged now at the full rate without asking the eu first

Short answer - no! The following summary from Wikipedia:

Under EU law, the standard rate of VAT in any EU state cannot be lower than 15%.[5][6] Each state may have up to two reduced rates of at least 5% for a restricted list of goods and services.[6] The European Council must approve any temporary reduction of VAT in the public interest.[5]

 

[Cowabunga]

I don’t give a dam about what happened before but the fact is you told a lie about the eu not involved in our tax system when clearly it is so I will ask again could the uk decide to make something zero rated that is charged now at the full rate without asking the eu first

So now that you realise that there is a zero rate you move the goalposts to say that we can’t have any more, which is true, but ignore the fact that we actually do have a large swathe set at a zero rate and can set any rate above 5% we like plus any standard rate as low as 15% and that VAT is anyway at a much lower rate than purchase tax that came before it. It has never been as high as 25% purchase tax and certainly nowhere near the 33% purchase tax set at some point.

So what exactly are you blaming the EU for in this context? I just do not see anything emanating from the EU that is in any way inflexible or that impacts the public or business in any way. So what are you bitching about and how will a UK outside the EU do things differently? Do you really think that the small business and the common man will be better off given the historical and current context?

 

[Henarar]

don't think he was blaming the eu for anything

 

[turbo]

So now that you realise that there is a zero rate you move the goalposts to say that we can’t have any more, which is true, but ignore the fact that we actually do have a large swathe set at a zero rate and can set any rate above 5% we like plus any standard rate as low as 15% and that VAT is anyway at a much lower rate than purchase tax that came before it. It has never been as high as 25% purchase tax and certainly nowhere near the 33% purchase tax set at some point.

So what exactly are you blaming the EU for in this context? I just do not see anything emanating from the EU that is in any way inflexible or that impacts the public or business in any way. So what are you bitching about and how will a UK outside the EU do things differently? Do you really think that the small business and the common man will be better off given the historical and current context?

Wasn’t blaming the eu for anything,just pointing out that what you said about our taxation was not true and all the wriggling doesn’t alter the facts

 

[TheTallGuy]

So now that you realise that there is a zero rate you move the goalposts to say that we can’t have any more, which is true, but ignore the fact that we actually do have a large swathe set at a zero rate and can set any rate above 5% we like plus any standard rate as low as 15% and that VAT is anyway at a much lower rate than purchase tax that came before it. It has never been as high as 25% purchase tax and certainly nowhere near the 33% purchase tax set at some point.

So what exactly are you blaming the EU for in this context? I just do not see anything emanating from the EU that is in any way inflexible or that impacts the public or business in any way. So what are you bitching about and how will a UK outside the EU do things differently? Do you really think that the small business and the common man will be better off given the historical and current context?

Correct me if I am wrong, but wasn't the purchase tax based on the wholesale price rather than retail?

As to the zero rate derogation - it's clear from the wording in the EU directive that the long term intent is to harmonise the rules across the community & remove such derogations. For a classic example of EU bonkersness, I refer to the tampon tax - we had to ask Brussels for a new rule to allow zero rating on sanitary products, to which they reluctantly agreed, but despite having agreed to it the rule was written such that it doesn't come in to effect until 2022! There's no sensible reason why such a delay is necessary, other than unnecessary euro bureaucracy!

Now, I am a realist & I know that post Brexit our government & civil service almost certainly wont change, but at least they won't have the ability to shrug their shoulders & blame the EU - unless, as seems likely, May & Co screw up the withdrawal!

 

[Hilly]

Wasn’t blaming the eu for anything,just pointing out that what you said about our taxation was not true and all the wriggling doesn’t alter the facts

He likes to wriggle and bully people, mainly into custard.

 

[Cowabunga]

Wasn’t blaming the eu for anything,just pointing out that what you said about our taxation was not true and all the wriggling doesn’t alter the facts

Now, I am a realist & I know that post Brexit our government & civil service almost certainly wont change, but at least they won't have the ability to shrug their shoulders & blame the EU - unless, as seems likely, May & Co screw up the withdrawal!

Enough said

 

[Cowabunga]

Correct me if I am wrong, but wasn't the purchase tax based on the wholesale price rather than retail?

I do not believe so, otherwise everyone [well, maybe a just a few] would be able to quickly and easily work out the cost price and mark-up of taxed goods. I do not recall that being the case. I do remember certain goods, such as cars and maybe even petrol having a very much higher rate of purchase tax than the nominal 25% that I otherwise remember levied.

 

[turbo]

Enough said

About what? The fact that you are wrong and cannot admit it

 

[Cowabunga]

About what? The fact that you are wrong and cannot admit it

What am I wrong about? NOTHING. I stated the facts. We can set our own tax rates and have done. You were apparently in denial and ignorant of even the Zero rate for goodness sake! Even though the food that farmers produce [this is a farming forum!] is overwhelmingly zero rated. I am glad to have at least been of help to you in that much.

I never said that the UK had complete authority over VAT, only that we are at liberty to set the rate [within certain generous limitations if you must have everything spelt out, as with the existence and application of 'Zero rate'] and to set the threshold for businesses to register for VAT. Unregistered businesses do not charge VAT at all of course. I think their goods and services fall into the 'Exempt' category.
Currently the threshold for exemption is £85,000 but businesses can opt in at a much lower figure and also opt for a simplified scheme.

 

[Cowabunga]

He likes to wriggle and bully people, mainly into custard.

 

[Pieces_of_Eight]

Never underestimate the potential for a Brexit thread to get personal

 

[turbo]

We can also choose how much VAT to charge and on what goods of course.[/QUOTE]
Did you not say this yesterday

 

[Cowabunga]

We can also choose how much VAT to charge and on what goods of course.
Did you not say this yesterday

Yes I certainly did and we do. We have chosen to zero rate certain products, including the so-called tampon tax still to be implemented , and are free to set the VAT rate on other products around the standard rate. The UK chooses to charge 5% on top of the minimum standard rate currently, so 20% currently although it has been 17.5% and 15% in the past. I and others have illustrated that other countries choose to charge different rates of VAT than we do, both higher and lower. I have been at pains to point out that VAT has been lower than the preceding Sales Tax or Purchase Tax