Tax planning ahead of a Labour Government
Discussion
So a good chance of Labour or Lab/Lib government in next 12 months. Those with millions invested in the U.K. will be sitting down with their tax planners working out how best to shelter their money from Labour’s clutches and of course they pay the best in the country to find all the loopholes
As for the rest of the population will be interesting to keep track of ideas as we get nearer the election.
An example if you are an entrepreneur and nearing retirement will business asset disposal relief remain as generous.?
Use of trusts and inheritance tax planning need to be reviewed ?
As for the rest of the population will be interesting to keep track of ideas as we get nearer the election.
An example if you are an entrepreneur and nearing retirement will business asset disposal relief remain as generous.?
Use of trusts and inheritance tax planning need to be reviewed ?
Interesting one. If I was a non-dom I'd be worried - easy target & popular with Jo Public.
However, Starmer has said multiple times that we're paying the biggest tax burden in years. Maybe he'll actually reduce the burden for the less affluent & tax the rich more? I suppose it all rather depends on their definition of rich....
However, Starmer has said multiple times that we're paying the biggest tax burden in years. Maybe he'll actually reduce the burden for the less affluent & tax the rich more? I suppose it all rather depends on their definition of rich....
In the news today:
The (Conservative) government is on course to oversee the biggest tax-raising Parliament since records began, according to the Institute for Fiscal Studies' analysis.
https://www.bbc.co.uk/news/uk-politics-66945729
But you're worried about imaginary Labour Government policies?
The (Conservative) government is on course to oversee the biggest tax-raising Parliament since records began, according to the Institute for Fiscal Studies' analysis.
https://www.bbc.co.uk/news/uk-politics-66945729
But you're worried about imaginary Labour Government policies?
Whatever stripe the next government, I foresee a massive increase in fiddling the system and "aggressive avoidance".
It is already quite noticeable the number of small businesses demanding cash only. My son's barber was telling him last weekend "it's cash only, I don't want to pay the tax". So not even covert, then.
We as a business are scrutinising every minute area where we can claim something extra against tax, where once we "played a straight bat".
I think a similar attitude is set to pervade all strata of taxpayers.
We are, if I am right, at the tipping point between "doing the right thing" and "f
k 'em".
It is already quite noticeable the number of small businesses demanding cash only. My son's barber was telling him last weekend "it's cash only, I don't want to pay the tax". So not even covert, then.
We as a business are scrutinising every minute area where we can claim something extra against tax, where once we "played a straight bat".
I think a similar attitude is set to pervade all strata of taxpayers.
We are, if I am right, at the tipping point between "doing the right thing" and "f
k 'em".Louis Balfour said:
Whatever stripe the next government, I foresee a massive increase in fiddling the system and "aggressive avoidance".
It is already quite noticeable the number of small businesses demanding cash only. My son's barber was telling him last weekend "it's cash only, I don't want to pay the tax". So not even covert, then.
We as a business are scrutinising every minute area where we can claim something extra against tax, where once we "played a straight bat".
I think a similar attitude is set to pervade all strata of taxpayers.
We are, if I am right, at the tipping point between "doing the right thing" and "fk 'em".
When corp tax goes from 19% to 25% ‘fIt is already quite noticeable the number of small businesses demanding cash only. My son's barber was telling him last weekend "it's cash only, I don't want to pay the tax". So not even covert, then.
We as a business are scrutinising every minute area where we can claim something extra against tax, where once we "played a straight bat".
I think a similar attitude is set to pervade all strata of taxpayers.
We are, if I am right, at the tipping point between "doing the right thing" and "f
k 'em".k ‘em’ does seem to be the correct strategy. Seems people might need to do some tax planning if this lot remain in office too.
Didn't the Tories used to be the party of tax CUTS? Britain faces an extra £114billion bill by next year's General Election amounting to £3,500 per household in biggest set of tax rises since WW2
Didn't the Tories used to be the party of tax CUTS? Britain faces an extra £114billion bill by next year's General Election amounting to £3,500 per household in biggest set of tax rises since WW2
durbster said:
In the news today:
The (Conservative) government is on course to oversee the biggest tax-raising Parliament since records began, according to the Institute for Fiscal Studies' analysis.
https://www.bbc.co.uk/news/uk-politics-66945729
But you're worried about imaginary Labour Government policies?
Expect the number of Labour 'disaster porn' stories to increase in the run up to the GE. Talking about imaginary Labour outcomes seems more palatable to some than talking about actual Tory disasterous outcomes.The (Conservative) government is on course to oversee the biggest tax-raising Parliament since records began, according to the Institute for Fiscal Studies' analysis.
https://www.bbc.co.uk/news/uk-politics-66945729
But you're worried about imaginary Labour Government policies?
Wacky Racer said:
I've voted tory every election since 1969.
Next time I'm going for Labour, they can't be any worse than this shower........can they?
I'm actually starting to like Angela Rayner.
You wouldn’t consider trying a slightly different experiment?? I guess you remember what a labour administration looks like by now !!Next time I'm going for Labour, they can't be any worse than this shower........can they?
I'm actually starting to like Angela Rayner.
Ivan stewart said:
Wacky Racer said:
I've voted tory every election since 1969.
Next time I'm going for Labour, they can't be any worse than this shower........can they?
I'm actually starting to like Angela Rayner.
You wouldn’t consider trying a slightly different experiment?? I guess you remember what a labour administration looks like by now !!Next time I'm going for Labour, they can't be any worse than this shower........can they?
I'm actually starting to like Angela Rayner.
3 more changes of leader, increased taxes, unsettled markets, failing services, culture wars and the continued raping of the government coffers to make the richest in society even richer. Chin chin double gins all. Round!!
86 said:
So a good chance of Labour or Lab/Lib government in next 12 months. Those with millions invested in the U.K. will be sitting down with their tax planners working out how best to shelter their money from Labour’s clutches and of course they pay the best in the country to find all the loopholes
As for the rest of the population will be interesting to keep track of ideas as we get nearer the election.
An example if you are an entrepreneur and nearing retirement will business asset disposal relief remain as generous.?
Use of trusts and inheritance tax planning need to be reviewed ?
Thinking I’ll continue to make less effort and live simply As for the rest of the population will be interesting to keep track of ideas as we get nearer the election.
An example if you are an entrepreneur and nearing retirement will business asset disposal relief remain as generous.?
Use of trusts and inheritance tax planning need to be reviewed ?
I doubt labour will be any worse at discouraging small businesses or enterprise ..
I fail to understand why so many people believe that just because the Tories are awfully bad (they are) Labour will be better (they won’t).
Personally, if close to retirement and with kids I’d be looking to sell any business I had to get entrepreneur’s relief before that gets targeted (although the Tories have already slashed it) and setting up trusts for IHT purposes, before they get reduced/banned (which I suspect they will).
Personally, if close to retirement and with kids I’d be looking to sell any business I had to get entrepreneur’s relief before that gets targeted (although the Tories have already slashed it) and setting up trusts for IHT purposes, before they get reduced/banned (which I suspect they will).
Would normally be a Tory voter but I’m completely fed up with them tbh …at same time I could never vote labour as they are fully onboard with all the net zero and identity politics rubbish and then the plan to add vat to private school fees on top. Yeah the Tories jacking up the corp tax to 25% wtf but labour will probably hit higher PAYE earners as that plays well for them. Some creative tax planning solutions required over next 5-10 yrs .
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