Tax details published, what is to hide?

[the_bloke]

Exactly, it misses out key things like property income, stocks and shares, investments in specific companies and so on. These are things that politicians should have out in the open in my opinion. As I've said, I'm not concerned with how much they have, we have rich MPs and we have relatively poor ones, all can do a good or bad job, but to not be able to see where an MPs interests lie and may affect how they vote in the Commons I think is bad.

 

http://www.publications.parliament.uk/pa/cm201516/cmcode/1076/107603.htm

 

6. Land and property in the UK and elsewhere

 

Total value of property held: over £100,000

Income derived from property: over £10,000 in a calendar year

 

7. Shareholdings

Greater than 15% of issued share capital (on preceding 5 April), or if 15% or less of issued share capital (on preceding 5 April), greater in value than £70,000

 

If an MP gets a significant amount of money from property (over 10k) they have to declare it. That's probably less money than some of the landlords who post on SF.

 

If an MP has over £100k of property, they have to declare it, which isn't a great sum in today's housing market.

 

If an MP has more than 15% of shares in a company, or has more than £70k worth of shares in a company, they have to declare it.

 

Or do you want them to declare every little thing?

[carosio]

who post on SF.

 

If an MP has over £100k of property, they have to declare it, which isn't a great sum in today's housing market.

 

If an MP has more than 15% of shares in a company, or has more than £70k worth of shares in a company, they have to declare it.

 

Or do you want them to declare every little thing?

Yes- paintings, cars, boats, planes, antiques, the wine cellar and last but not least the spouse's jewelry.

[Cyclone]

http://www.huffingtonpost.co.uk/2016/02/04/story_n_9157206.html

 

But they do forget sometimes.

 

Tory MP Geoffrey Cox Apologises For Failing To Declare 'Forgotten' £400,000 Of Income; Was Too Busy Setting Up Office In Mauritius

 

Ooops.

[sgtkate]

http://www.publications.parliament.uk/pa/cm201516/cmcode/1076/107603.htm

 

6. Land and property in the UK and elsewhere

 

Total value of property held: over £100,000

Income derived from property: over £10,000 in a calendar year

 

7. Shareholdings

Greater than 15% of issued share capital (on preceding 5 April), or if 15% or less of issued share capital (on preceding 5 April), greater in value than £70,000

 

If an MP gets a significant amount of money from property (over 10k) they have to declare it. That's probably less money than some of the landlords who post on SF.

 

If an MP has over £100k of property, they have to declare it, which isn't a great sum in today's housing market.

 

If an MP has more than 15% of shares in a company, or has more than £70k worth of shares in a company, they have to declare it.

 

Or do you want them to declare every little thing?

 

No, you are right. I will admit to not being aware that the register of interests cover those things. I withdraw what I asked for as that does indeed cover all the things I think should be in public domain.

[truman]

VAT applies only to sales made to not VAT registered individuals or small companies.

It does not apply to B2B sector.

 

Errr yes it does...

[Orzel]

Errr yes it does...

 

You mean VAT liability or VAT accounting?

You get VAT return on business expenses, so you are not effectively taxed.

You have to collect it on sales on behalf of HMRC thou, so it does affect business in a way. But it all equals out up to final non-VAT registered consumer or small business.

[tinfoilhat]

You mean VAT liability or VAT accounting?

You get VAT return on business expenses, so you are not effectively taxed.

You have to collect it on sales on behalf of HMRC thou, so it does affect business in a way. But it all equals out up to final non-VAT registered consumer or small business.

 

No it doesn't. And if a small business wants to be vat registered it can be to the very best of my knowledge.

[Orzel]

No it doesn't. And if a small business wants to be vat registered it can be to the very best of my knowledge.

 

It affects business in that way that you have to keep account for it if that was what you referred to.

And what I meant was non-VAT registered consumer or non-VAT registered small business.

You can of course register for VAT irrespective of turnover, but costs of running VAT account might be more than it's worth. Depending on business model.

[Cyclone]

You mean VAT liability or VAT accounting?

You get VAT return on business expenses, so you are not effectively taxed.

You have to collect it on sales on behalf of HMRC thou, so it does affect business in a way. But it all equals out up to final non-VAT registered consumer or small business.

 

Whether you pay VAT to the government depends on whether you buy more stuff than you sell (which is not true for a very many businesses).

I charge VAT to my business customers, I pass it on to HMRC.

 

It most definitely doesn't all equal out for all companies.

[Orzel]

Whether you pay VAT to the government depends on whether you buy more stuff than you sell (which is not true for a very many businesses).

I charge VAT to my business customers, I pass it on to HMRC.

 

It most definitely doesn't all equal out for all companies.

 

Add to that equation VAT you are getting charged by your suppliers.

Then it all goes to zero for B2B. That is in fact principle of VAT.

You pay VAT and then HMRC gives it back. You charge VAT and then give it away to HMRC. Because you deal with HMRC all in one and with suppliers and customers separately it might seem different.

Amount you pay or get back from HMRC is just part of all money that goes through VAT account. It is in fact amount that is needed to balance it to zero.

Now think about all suppliers in line doing same pointless exercise.

All that work to collect tax on final price.

How much effort goes into keeping all that money circulating only to balance it out in end for most parties involved.

That must be most wasteful system ever.