Wealth tax considered!!

[Surgery]

Backlash from COVID , possible 1% tax on wealth over £500k is being discussed per annum.

 

[livestock 1]

Assets?

 

[kiwi pom]

Not that silly of an idea, got to get the money to pay for everything from somewhere.

 

[roscoe erf]

Not that silly of an idea, got to get the money to pay for everything from somewhere.

how about a politician/quango/minister cull

 

[Surgery]

Assets?

Yep

 

[livestock 1]

Yep

Not much of an incentive to get on and strive then.
Would buying more farms increasing the debt the business owes deduct the asset value from the valuation I wonder

 

[livestock 1]

Not that silly of an idea, got to get the money to pay for everything from somewhere.

You obviously ain’t worth more than 500k then coming out with shyte like that

 

[kiwi pom]

how about a politician/quango/minister cull

That'll work too

 

[FonterraFarmer]

Not that silly of an idea, got to get the money to pay for everything from somewhere.

That only encourages book cooking, and why should someone who has worked their arse off and stuck their neck out financially have to pay that when others have pee'd it against the wall or betting agency/lotto shop, eh?
Sounds like the kind of thing Trudeau would do...

 

[Yale]

Quite a few homes around here worth in excess of £500k.

 

[glasshouse]

Its not collectable

 

[czechmate]

Where would they get the values from?

 

[kiwi pom]

You obviously ain’t worth more than 500k then coming out with shyte like that

Short of printing more money how else can they pay for everything? You can't take it from those that don't have it.
The article I read said couples would need a net wealth of a million quid before they had to pay it and it would be 1% for 5 years?

 

[czechmate]

Short of printing more money how else can they pay for everything? You can't take it from those that don't have it.
The article I read said couples would need a net wealth of a million quid before they had to pay it and it would be 1% for 5 years?

Would that first million be tax free ?

 

[Surgery]

Short of printing more money how else can they pay for everything? You can't take it from those that don't have it.
The article I read said couples would need a net wealth of a million quid before they had to pay it and it would be 1% for 5 years?

That’s it , all I hope if it does come into force farming is exempt otherwise I would be up said creak without paddle after buying out an old aha we were on.

 

[goodevans]

Quite scary if true,there are plenty of outfits getting about with a million pounds worth of stock ,push the cattle trade either further to get them less on the books,makes sense why the local billionaire newcomer is trying to buy up everything local now,easier to hide money in assets than cash

 

[Kidds]

If my house is worth £1m just where do I get the £10k a year from to pay this tax and does it reduce the £3k of council tax I have to find?

 

[essexpete]

That only encourages book cooking, and why should someone who has worked their arse off and stuck their neck out financially have to pay that when others have pee'd it against the wall or betting agency/lotto shop, eh?
Sounds like the kind of thing Trudeau would do...

Can you imagine the frantic book keeping of the really wealthy and shifting of assets with spurious holding companies? The rest of us with assets would take a hiding.
I should have thought income tax needs to rise couple with tightening the off shore loopholes. Never happen will it ffs.

 

[glasshouse]

The queens bill would be quite a total.

 

[farmerm]

Not that silly of an idea, got to get the money to pay for everything from somewhere.

Yes it is! It rewards the feckless whilst imposing a penalty on those who are frugal and wise! Tax should come from earnings not from assets bought using income that has been taxed already!