Greed of the Super Rich, Lizzie in Trouble.

[spilldig]

This was a neoliberal savings grab, a planned erosion of savings by Osborne. It was no accident, and the May minority government will not be persuaded to make any significant changes. Why would they? The plan is working just fine! Savers either spend their money on baubles and gewgaws or lose in relation to inflation. Either way finance capital wins.

 

Yes. I think I would sooner have had Ozzie Osborne in charge.

[Jeffrey Shaw]

1) To be clear, does this mean that you want the country to tax money that is not in this country? Presumably only for residents?

2) Tax reliefs exist for very specific reasons, to stimulate investment and growth in specific areas.

3) This seems ludicrous, companies could avoid tax by simply sitting on the money. Large companies would just stop paying dividends.

1. No.

2. Yes, at present.

3. No. Shareholders hold shares with an expectation of dividend distributions.

[Cyclone]

3) Many companies don't pay dividends, shareholders buy such shares for capital gain.

 

1) Isn't that what stimulated the entire topic, money being held offshore where UK income tax doesn't apply?

[Jeffrey Shaw]

3) Many companies don't pay dividends, shareholders buy such shares for capital gain.

 

1) Isn't that what stimulated the entire topic, money being held offshore where UK income tax doesn't apply?

1. But the money was first earned in the UK. It was taxed here, I suppose, before being sent abroad. Once it's sent abroad, it's not UK money and therefore not liable to UK tax. Foreign earnings are taxable only once they arrive in the UK in the hands of a UK taxpayer.

3. But the capital gains are taxable. Options under discussion include a tax based on a company's turnover or on undistributed capital gains.