Sunak needs to go in the opposite direction: extend inheritance tax to the super wealthy, who typically hide their assets offshore and in trusts in order to avoid inheritance tax (amongst others). About 4% of people pay inheritance tax: essentially the top 2-5%. The 1% don’t pay any.
Sunak needs to go in the opposite direction: extend inheritance tax to the super wealthy, who typically hide their assets offshore and in trusts in order to avoid inheritance tax (amongst others).
Yep. I kind of wish that having those kind of tax arrangements automatically disqualified someone from being a politician. Not paying UK tax? You can’t be part of the UK’s government. Won’t happen, though.
We had money controls in the 70s but it basically led to poor inward investment and expats waiting for a change of government before coming back to the UK. Why move capital into a country you’re not sure you can take it out afterwards.
Sunak needs to go in the opposite direction: extend inheritance tax to the super wealthy, who typically hide their assets offshore and in trusts in order to avoid inheritance tax (amongst others). About 4% of people pay inheritance tax: essentially the top 2-5%. The 1% don’t pay any.
You’ve just described his family.
Yep. I kind of wish that having those kind of tax arrangements automatically disqualified someone from being a politician. Not paying UK tax? You can’t be part of the UK’s government. Won’t happen, though.
How does money get “off shore” in the first place?
Can’t they implement stupid taxes on any money leaving the country? Like 25-50% or something?
We had money controls in the 70s but it basically led to poor inward investment and expats waiting for a change of government before coming back to the UK. Why move capital into a country you’re not sure you can take it out afterwards.