REFERENDUM RESULTS AND DISCUSSION THREAD

[lemonjelly]

How the hell have I gone from ukip supporter to Lenin on here? Must....... Control.........Leftie.....urge.....!

seriously its bloody good to air the views and have debates isn't it?

Become one of us!

seriously, on the 2nd sentence, it truly is. I know FA about tax, but have enjoyed thinking about the options posted here recently. Much better than recent times.

 

[Deleted Cyber]

Become one of us!

seriously, on the 2nd sentence, it truly is. I know FA about tax, but have enjoyed thinking about the options posted here recently. Much better than recent times.

Yes mate it is. I love the fact that we are different and have different views but the only way in my view to make change happen is to debate it sensibly and find a common ground that suits all. Change then follows

 

[Paddingtonwolf]

EVERY LISTED COMPANY will have one or more of:

Save As You Earn (leave this as it is a nice little thing for the little guys and not intended as a wheeze)
Executive Share Options of varying hues
Long Term Incentive Plans
Deferred Share Bonus Plans

EVERY SINGLE ONE.

And the maximum amounts for an individual under option should be limited at 100 per cent of salary in a given year (except for exceptional circumstances like BEING THE CEO).
There is NO LIMIT AT ALL on deferred share bonus schemes unless bonuses are limited. That was how Bob Diamond got paid £14m a year before he was CEO.

It is massive. Don't bin them off as I would be career fucked! A bit of refinement and there is easy take to make. Companies are required to make their own tax returns on these schemes and they are extremely detailed. It would be VERY simple to check through and find any wheezes, so the revenue have all this info on an annual basis from every single company on the stock exchange.

 

[Deutsch Wolf]

It's all good info Pad.

So effectively you're doing what most of us would do in theory - get a greater take from high earners - but you're not piling into basic salary so those who just happen to have climbed the ladder fairly well but aren't privy to schemes in listed companies would be pretty much untouched.

The thing is none of this finds the media, as no-one with any sense would employ me directly and I have to fend for myself I have no idea about these kind of things, I would say the vast, vast majority of people would not either.

 

[Paddingtonwolf]

In theory if I am an Exec of Bumph Limited I get remuneration in three basic ways, Salary, Bonus, Pension (ignoring Company Car etc etc etc). All of those go through standard Income Tax pretty much (obviously there is a bit of a difference with pension, but basically it is treated as income)

Sid Emerald at mega bank PLC gets salary (Income Tax regime), bonus number one (60 per cent of his bonus say) as income and straight through Income Tax, bonus part two as deferred shares (no income tax now - only paid if the shares are collected, but the tax liability is crystallized on a known point so you can take tax minimisation action in three years time), Save as You Earn (£250 a month to go to a fund to have the right to buy shares at a set price. No Income tax after 3 or 5 years and so any rise in share price is pure profit), Long Term Incentive Plans (massive tax incentives here as explained), Pension, etc etc etc.

 

[Deleted Cyber]

It's all good info Pad.

So effectively you're doing what most of us would do in theory - get a greater take from high earners - but you're not piling into basic salary so those who just happen to have climbed the ladder fairly well but aren't privy to schemes in listed companies would be pretty much untouched.

The thing is none of this finds the media, as no-one with any sense would employ me directly and I have to fend for myself I have no idea about these kind of things, I would say the vast, vast majority of people would not either.

That is the issue. You're more likely to die in your bath than from a migrant attack but people see the
Opposite! Media distortion!

 

[Deleted Cyber]

In theory if I am an Exec of Bumph Limited I get remuneration in three basic ways, Salary, Bonus, Pension (ignoring Company Car etc etc etc). All of those go through standard Income Tax pretty much (obviously there is a bit of a difference with pension, but basically it is treated as income)

Sid Emerald at mega bank PLC gets salary (Income Tax regime), bonus number one (60 per cent of his bonus say) as income and straight through Income Tax, bonus part two as deferred shares (no income tax now - only paid if the shares are collected, but the tax liability is crystallized on a known point so you can take tax minimisation action in three years time), Save as You Earn (£250 a month to go to a fund to have the right to buy shares at a set price. No Income tax after 3 or 5 years and so any rise in share price is pure profit), Long Term Incentive Plans (massive tax incentives here as explained), Pension, etc etc etc.

Cool but I can't afford that nor can about 50% of the UK. No criticism but I want those at 20k a year or less to have hope and opportunity

 

[Paddingtonwolf]

You are missing the point.

All these rich fat cats are fleecing the tax system and nobody is doing a thing.

Use the cut from enforcing this to give a tax olive branch to lower incomes. Instant Robin Hood.

 

[Tredman]

That is the issue. You're more likely to die in your bath than from a migrant attack but people see the
Opposite! Media distortion!

Distortion from UKIP and UKIP supporters mainly

 

[Penk Wolf]

First stab in the dark padd! Would love to see your numbers. I just think that someone earning 20k and paying the same rate as someone earning double that is not right and we can do better

I'm not sure why they should be paying a higher rate, obviously they are already paying more as they are taxed on their income.

Over £100k you lose £1 from your tax code for every £2 you earn.

 

[Paddingtonwolf]

Maybe get rid of the Philip Green wheeze.

We all love poor Mr Green. Absolute pauper really.

Owner of Arcadia. CEO of Arcadia. Owner of virtually all the shares in Arcadia. Transferred his shares to his wife. Paid himself a decent but not massive salary. Paid a huge dividend on the shares as the shareholder involved is a lower rate tax payer. All completely legal.

 

[Penk Wolf]

I think the higher tax rates should go on savings, second properties, shares, etc. as that is on income over and above what they need.

I'd guess that someone on £40k can be in the same boat as someone on £20k as their lifestyle will adjust to suit that income. I'd guess about £70k is where people get to the stage where they struggle to carry on adjusting their lifestyle.

 

[Deleted Cyber]

Distortion from UKIP and UKIP supporters mainly

You opportunistic bastard !ol !

 

[leedswolf]

How the hell have I gone from ukip supporter to Lenin on here? Must....... Control.........Leftie.....urge.....!

Not even close

 

[visage]

John Major tells THM to pipe down:

 

[thehistorymakers]

John Major tells THM to pipe down:

ERM exit, Black Wednesday and Edwina Curry come to mind. Lol I don't think we need to take lessons from him about what the future holds. The bloke was catastrophic. I think Elitists have the same right to express their opinion as anyone else. As long as they accept the democratic result.

 

[Johnny75]

Not addressing the point as usual and a good dose of whataboutery too.

Deal with the point he makes you unpleasant illiterate bigoted hypocrite*.


*as you've attacked John Major for his past faults I thought I'd point out yours too.

 

[thehistorymakers]

Not addressing the point as usual and a good dose of whataboutery too.

Deal with the point he makes you unpleasant illiterate bigoted hypocrite*.


*as you've attacked John Major for his past faults I thought I'd point out yours too.

What I said about John Major are facts, your version of my faults are your opinions, or the sort of post which is looking for an argument. Your post says a lot more about you than me.

 

[Johnny75]

What I said about John Major are facts, your version of my faults are your opinions, or the sort of post which is looking for an argument. Your post says a lot more about you than me.

I should've added wrong too.

Any chance you can address the points John Major has slapped you down with?

 

[thehistorymakers]

I would say to John Major, when he talks about the "tyranny of the majority", Where was the majority for Mastrich. Why did you and Blair always hide from the people, when it came to anything to do with the EU? We know why they were so scared of a democratic vote, because they knew they would lose. I think he should have a think what tyranny of the minority means, before he starts talking about a tyranny of the majority.