The Tax Preparation Blog

Posts Tagged ‘personal income tax united kingdom’

Question: UKIP proposes flat rate income tax of 33%, what do you think?

UKIP propose to combine income tax and National Insurance in to a single flat rate tax of 33%.

Would you agree if everyone in the UK paid 33% tax on their income? However, they’ll increase the tax free personal allowance to £9,000.

They claim it’ll mean 4.5 million lower paid people will pay no tax at all.

Will this be a good for most people?

http://www.ukip.org/media/pdf/ukipflattaxpolicy.pdf

http://en.wikipedia.org/wiki/United_Kingdom_Independence_Party

Answer: Sounds good on the surface; scratch a little and you’ll find it’s nowhere near as fair as a quick glance suggests. I won”t bother saying why; other people have more than adequately pointed that out.

I would suggest the Norwegian model. No income tax, but absolutely everything you buy has a higher level of vat. This is good for one very, very simple reason.

Everyone contributes. That’s including the rich b@stards who have their bank accounts in Switzerland and criminals who pay nothing anyway. They’ve all got to eat. They’ve all got to buy clothes…. so everyone, even the crooks who spend half their time working out how not to contribute at all, pays to run the country. If affects everyone exactly the same way. Even the unemployed, who still need to eat.

I’ve been told on numerous occasions that ‘that wouldn’t work here.’ What no one has ever satisfactorily explained, however, is this.

Why not?

Tax 2009/2010 For Dummies $14.00 Tax 2009/2010 For Dummies offers easy-to-understand advice on every aspect of tax: from child credit and investments, to pensions and inheritance tax. This up-to-date guide will also provide those nine million people who have to work out their own tax bill with jargon-free, step-by-step advice on completing a self-assessment form.  Covering the rules and regulations of the 2009/2010 tax year, thi…

Tax 2010 / 2011 For Dummies $22.95 Fully updated for the 2010/2011 tax year, this book takes the hassle out of taxAlthough you can’t escape tax, you can make it easier to deal with. Whether you want to work out the taxes on your own business, make tax-efficient investments or simply understand where your money’s going, this plain-English guide has it all. Get to grips with the UK tax system and discover how to make potentially sign…

Taxes 2006 For Dummies (Taxes for Dummies) $1.99 Helps you avoid common mistakes — before you fileThe fun and friendly guide to saving on taxes this and every yearAvoid tax headaches with the book that demystifies forms, minimizes errors, and answers your most important tax questions. Fully updated for 2005, including information directed to military families and hurricane victims, this handy, helpful guide covers critical tax code changes and …

Andrew Peller Limited Announces Strong First Quarter Fiscal 2011 Results

GRIMSBY, ONTARIO– -

Contractor Pensions

Tax 2009/2010 For Dummies $14.00 Tax 2009/2010 For Dummies offers easy-to-understand advice on every aspect of tax: from child credit and investments, to pensions and inheritance tax. This up-to-date guide will also provide those nine million people who have to work out their own tax bill with jargon-free, step-by-step advice on completing a self-assessment form.  Covering the rules and regulations of the 2009/2010 tax year, thi…

Income Tax Fundamentals (with TaxCut Tax Prep Software) $4.75 Trust the number one tax preparation text to introduce your students to individual income tax preparation using a proven forms approach in a hands-on workbook format. As the market-leading tax preparation text for 26 years, Whittenburg/Altus-Buller’s INCOME TAX FUNDAMENTALS, 2008 EDITION, Twenty-Sixth Edition, provides a concise, yet complete, practical introduction to the most important areas of …

Income Tax in Common Law Jurisdictions: Volume 1, From the Origins to 1820 (Cambridge Tax Law Series) (v. 1) $4.55 Many common law countries inherited British income tax rules. Whether the inheritance was direct or indirect, the rationale and origins of some of the central rules seem almost lost in history. Commonly, they are simply explained as being of British origin without more, but even in Britain the origins of some of these rules are less than clear. This book traces the roots of the income tax and its …

Accountancy In Asia-Pacific – New Report Published

The Accountancy in Asia-Pacific industry profile is an essential resource for top-level data and analysis covering the Accountancy industry.

Buy silver, gold bullion bars, coins, ingots in the UK – Click link to shop