The official Boris pm cluster-fuck thread

[coprolite]

35 minutes ago, carpetmonster said:

Back of a fag packet maths, Mrs Sunak’s ponied up 30 grand to avoid giving the revenue a bit over 4 mil. Sounds like a good deal to me. 

 

 

It might sound pedantic (because it is really) but she doesn't pay that for non dom status, she pays that to not pay tax on overseas income. 

If she stops paying (and is still uk resident) then she'll still be a non dom but will just be taxable on her global income in the UK. 

That might sound like a mere detail but i suspect it will play a massive part in the weasel worded assurances that they'll give. 

I expect that they will confirm that she is no longer paying the charge and is taxable on her global income. Then when it all blows over she can start paying again and not be taxed. 

[carpetmonster]

25 minutes ago, Granny Danger said:

The one good thing to come out of this is that the little weasel is not going to succeed Johnson.

Unless you’re Javid in which case the best thing seems to be that it’s brushed over the fact your non-dom status was far more tenuous

https://news.sky.com/story/amp/sajid-javid-question-marks-over-health-secretarys-claim-to-non-dom-status-tax-experts-say-12590070

[Clown Job]

 

[Arch Stanton]

Andrew Bowie is an absolute c**t, If he was on fire I'd happily put out the fire by stamping on him wearing golf shoes.

Edited April 27, 2022 by Arch Stanton

[Suspect Device]

50 minutes ago, Clown Job said:

 

 

Huge compo claims going in?

This wasn't just on Bojo. All the governments/assemblies did the same.

[Dan Steele]

2 hours ago, Dawson Park Boy said:

but to be non-Dom is not cheap.

It is if you're drowning in money. 30 000 fee to maintain non-dom status. Murty receives, for doing absolutely nothing, £11.5 million in share dividends. A UK resident would pay £5 million in tax plus 250k in NI on that sum. So I'd argue 30k is, in relation, to what is saved, very cheap. A tax dodge for the rich, with greed at its heart. 

[Suspect Device]

4 minutes ago, The Skelpit Lug said:

It is if you're drowning in money. 30 000 fee to maintain non-dom status. Murty receives, for doing absolutely nothing, £11.5 million in share dividends. A UK resident would pay £5 million in tax plus 250k in NI on that sum. So I'd argue 30k is, in relation, to what is saved, very cheap. A tax dodge for the rich, with greed at its heart. 

Why would you pay NI on dividends?

You even get a reduced rate of income tax (37.5% I think) but I don't think you pay NICS. 

[Dan Steele]

1 minute ago, Suspect Device said:

Why would you pay NI on dividends?

You even get a reduced rate of income tax (37.5% I think) but I don't think you pay NICS. 

UK resident would pay NI on that sum earned, but not from dividends, as you say.

[Suspect Device]

1 minute ago, The Skelpit Lug said:

UK resident would pay NI on that sum earned, but not from dividends, as you say.

Begs the question why divi's are treated differently to income.

(Full disclosure: I took advantage of this when I was a freelance. I was a tax dodging c**t as well. Albeit on a much much smaller scale than Murty.)

[coprolite]

2 hours ago, Dawson Park Boy said:

If you start targeting the seriously wealthy, like your good self with your bulging SIPP, it tends to backfire as happened in the 70’s with astronomical tax rates. People simply move away and you lose substantial revenue. Maybe you didn’t appreciate it, but to be non-Dom is not cheap. 
Taxing wealthy people is a very competitive international business and countries vie with each other to attract wealthy individuals.

It produces huge amounts of revenue towards the exchequer.

Just having rich people here won't directly produce huge amounts of revenue but it will bring some money in. 

I agree that the tories see tax breaks as a way to attract the wealthy. 

Personally i think that attracts the wrong sort of wealthy. We should be competing on openness, rule of law, tolerance and opportunities and attracting actual wealth creators and not corrupt kleptocrats, heirs and heiresses. 

I agree that tax can act as a disincentive. We would still have a competitive regime even without the non dom break. The remittance basis is the sort of thing you'd expect from a proper haven that is desperate and has nothing better to offer. Despite this government's efforts, we're not there yet

6 minutes ago, The Skelpit Lug said:

It is if you're drowning in money. 30 000 fee to maintain non-dom status. Murty receives, for doing absolutely nothing, £11.5 million in share dividends. A UK resident would pay £5 million in tax plus 250k in NI on that sum. So I'd argue 30k is, in relation, to what is saved, very cheap. A tax dodge for the rich, with greed at its heart. 

You'd think someone getting millions of pounds would contribute to NI. But that's only on earned income. Because our tax system rewards wealth more than work. 

[Arch Stanton]

"MP caught watching porn in chamber".

I hope it was Bowie, get him tae fuck.

[coprolite]

9 minutes ago, Suspect Device said:

Begs the question why divi's are treated differently to income.

(Full disclosure: I took advantage of this when I was a freelance. I was a tax dodging c**t as well. Albeit on a much much smaller scale than Murty.)

No investment income has NIs. They're for working people to contribute to social security for each other (in theory). 

Rent and interest are also NI free. 

Dividends are at a lower rate to account for the corporation tax already paid, although the arithmetic has drifted out over time.

All are things that you need some wealth to benefit from. 

To have a truly progressive tax system we should either have higher marginal tax rates on investment income or tax wealth directly. We could protect pensions as needed. 

The real risk would be capital flight so it would need to be an international effort. But that can be done. Cooperation on changes over the last 10 years on corporate avoidance shows that. It requires political will. 

Personally i think taxing unearned income more would be easier and more practical than taxing wealth, because of measurement and cashflow issues. 

 

[Suspect Device]

8 minutes ago, coprolite said:

No investment income has NIs. They're for working people to contribute to social security for each other (in theory). 

Rent and interest are also NI free. 

Dividends are at a lower rate to account for the corporation tax already paid, although the arithmetic has drifted out over time.

All are things that you need some wealth to benefit from. 

To have a truly progressive tax system we should either have higher marginal tax rates on investment income or tax wealth directly. We could protect pensions as needed. 

The real risk would be capital flight so it would need to be an international effort. But that can be done. Cooperation on changes over the last 10 years on corporate avoidance shows that. It requires political will. 

Personally i think taxing unearned income more would be easier and more practical than taxing wealth, because of measurement and cashflow issues. 

 

Good luck with your hope of international cooperation. 

[Salt n Vinegar]

48 minutes ago, Arch Stanton said:

"MP caught watching porn in chamber".

I hope it was Bowie, get him tae f**k.

Aye, an honourable member right enough. 

Edited April 27, 2022 by Salt n Vinegar

[Left Back]

1 hour ago, Suspect Device said:

Why would you pay NI on dividends?

You even get a reduced rate of income tax (37.5% I think) but I don't think you pay NICS. 

Technically speaking you only pay 7% tax on dividends up to the threshold where you become a higher rate tax payer then it goes up to 37.5%.  You also get a £2k tax free dividend allowance.

When you're talking about £11m or so every penny counts but I'm sure her accountant would know that.

[coprolite]

45 minutes ago, Suspect Device said:

Good luck with your hope of international cooperation. 

I was surprised by how much has actually been achieved on corporate tax: No more Irish “nowhere” companies; our abusive patent box cleaned up; interest restriction, multilateral treaties etc. 

It’s probably too much to hope that it continues into personal tax but I’m not as cynical as I once was.

[Boo Khaki]

3 hours ago, Arch Stanton said:

"MP caught watching porn in chamber".

I hope it was Bowie, get him tae f**k.

Front-bencher apparently, so that rules out all the Scots bar Alister Jack.

I was brought up by a mother that apparently still put great stock in Phrenology, and swore blind she could spot a criminal simply by examining their facial features, so channelling her, I reckon that both Ben Wallace and Kit Malthouse look a bit noncey.

Edited April 27, 2022 by Boo Khaki

[Ken Deans]

Bozo Truss et al want to have a fight with Putin in the hope it will deflect from they're impoverishment of the rest of us. Sunak billionaire  Shagger PPE fraud Hancock and the rest of these no marks.

Putin is a murdering b*****d but a decent UK pm and US president could have stopped all this. 

Disgusted with the whole lot

Edited April 27, 2022 by Ken Deans
Misspelled

[williemillersmoustache]

"I have been assured that the honourable member involved had no idea that he was looking at pornography at the time. He firmly believed and I support him in this, that he was going to be looking at a work of Art. A perfectly normal and respectable work of Midget Fisting Art."

[Clown Job]

This probably should be a lot bigger news