Help the UK Government

[beagle]

The UK government seem to be having a spot of trouble setting policy on non-doms. Have your say and help set the peoples' policy...

[Darlica]

You pay taxes where you live, it's as easy as you eat by the table and does the number 1 and 2 business in that room with the big porcelain throne...    

[Sibling Zono (anon1mat0)]

Perhaps I've been in the States for too long, but why the heck are you supposed to declare your earnings in other country? If you made money in country A and you live in country B shouldn't country A tax your income there and country B let you be? Now, the money you make in country B should of course be taxed (even if it is interest on money that came from somewhere else) but -IMHO- only that.

I believe the rich should pay their share, but heck even them, fairly.

[The Meromorph]

Somewhat related....
for a period of about 5 years, I was employed by an English company, and paid out of England, to 'perform the functions required by their contractual obligations to American companies'. Therefore under American Law. all my income was not 'American Source Income' and therefore I was not required to pay or file any American taxes on it, provided I filed taxes on it in the source country. I duly filed tax returns in England. After I had been in America for a year, without my doing anything else, the English Inland Revenue informed me that my tax status was forthwith re-classified to 'Resident Not Ordinarily Resident' retroactively to the day i left the country, that I should continue to make tax returns, but that the tax rate for 'Resident Not Ordinarily Resident' taxpayers was 0%. The notice was accompanied by a full refund of the taxes I had paid that year...

Until that status ended, I had to be very careful to say that I paid a zero rate of tax, not that I paid no taxes...   

[Griffin NoName]

What Darlica says !!

Seems to me it's all about fear of London losing it's "financial" world status.

It's simple to solve if we accept a Global Economy. Every country would share it's tax statements, then it would all be divvied up. Fantastic job creation scheme for tax inspectors and accountants.

[Swatopluk]

To my knowledge there are only bilateral treaties on that, nothing international, so each pair of states has to make their own rules.
There are some complicated rules what defines "residence" and how that effects taxation (and different kinds of taxes may be handled differently)

[Griffin NoName]

Seems to me it's all about fear of London losing it's "financial" world status.

So the business community have stomped on the Government. So that's that.

[beagle]

I don't think anyone ever stomps on the Treasury. They can just point out that if they do so-and-so then they could lose £xbn a year. That usually does the trick.

Personally I'm all for a reasonable non-dom tax rate, but the retrospective aspect and prying abroad was just mad. Labour love messing with contracts retrospectively, IMHO.  If I'd known how they were going to change private pension retirement ages and taxation I'd never have put a penny in pension schemes.

[Griffin NoName]

I don't think anyone ever stomps on the Treasury.

Yeah, I guess I should have put a wink smilie there !

Mind you, I get to stomp on a little bit of The Treasury now and again LOL. (but get stomped back LOL).

Personally I'm all for a reasonable non-dom tax rate, but the retrospective aspect and prying abroad was just mad. Labour love messing with contracts retrospectively, IMHO. 

I sort of sympathise with the problem. I agree with you, but can't see a way it would work. But then I am not being paid vast sums of money to work out how it would work.

If I'd known how they were going to change private pension retirement ages and taxation I'd never have put a penny in pension schemes.

Trouble is, even putting your money under the mattress no longer has much advantage.

[Pachyderm]

Someone, somehow, has to get through to Gordon Brown that it is not, in fact, immoral for people to have money. That grasping effluvial discharge, following on from the useless piece of shit that ran us for the last decade  is why my parents no longer live in the UK. And as soon as I can, I shall be leaving.

%^&* him. And the horse he rode in on.

[Sibling Zono (anon1mat0)]

If I'd known how they were going to change private pension retirement ages and taxation I'd never have put a penny in pension schemes.

Trouble is, even putting your money under the mattress no longer has much advantage.

Have you both heard of gold?

[beagle]

Perhaps we're closing in on the insomnia cause; being pressed against the ceiling.

According to the news tonight sovereigns and pieces of eight are being usurped as the piratical treasure trove of choice by the 500 euro note. Doesn't make the Armani sag or set off the metal detectors.

[Griffin NoName]

Perhaps we're closing in on the insomnia cause; being pressed against the ceiling.

I wish !!!   

According to the news tonight sovereigns and pieces of eight are being usurped as the piratical treasure trove of choice by the 500 euro note. Doesn't make the Armani sag or set off the metal detectors.

Traditional Greek weddings - the guests pin loads of money on the dress.

[Griffin NoName]

** Help the UK Government **

Let's form a Union for Speakers!!  Save our Martin !!

** latest news, he is now cleared of all expense issues except the £4000 for the wife's taxis. I expect he/she just got the word taxis and taxes confused. **

[Aggie]

If I'd known how they were going to change private pension retirement ages and taxation I'd never have put a penny in pension schemes.

Trouble is, even putting your money under the mattress no longer has much advantage.

Have you both heard of gold?

It's too bloody high now...  I am strongly considering cashing in my whole treasure trove (1 oz.) if it goes up much higher. If/when it drops back down in the $400/oz range I'm going to start building a proper trove.

I'm really kicking myself for not picking up some palladium (non-jewelery, anyways) when it was down around $350/oz a few months ago, and for grumbling about silver being too expensive at $14/oz (should have bought a kilo brick of it).  Palladium is a pain to trade though, as it's not tax-exempt like the major precious metals, and because Pd Maple Leafs sell at a significant premium to the value of the metal.

Yes, I are a pirate...   

[Lindorm]

Perhaps I've been in the States for too long, but why the heck are you supposed to declare your earnings in other country? If you made money in country A and you live in country B shouldn't country A tax your income there and country B let you be? Now, the money you make in country B should of course be taxed (even if it is interest on money that came from somewhere else) but -IMHO- only that.

Here in Sweden, we have a situation in the far south, where the southernmost part of Skåne is more or less joining eastern Denmark into one big region. Lots of people commute back and forth over the Öresund fixed link (Malmö and Copenhagen are about 25 minutes away from each other by train), working in one country but living in another. Now, where do they declare thier income? Where do they pay tax? And where do they live, send their children to school and use hospitals, for example -all activities that are, at least in the scandinavian countries, financed via the tax bill. The Swedish and Danish tax departments have been arguing back and forth over an agreement for years now. Similar situations exist with, for example, Germany and the Netherlands, Germany and France, and quite a few other places.

[Griffin NoName]

Federal European Taxes hove into sight (with opt outs in both country of residence and work) ?

[Lindorm]

If such a bill ever gets introduced in the European Parliment, the ensuing nuclear meltdown would probably be both very entertaining to watch and completely grind most of the EU's administration to a complete standstill.


When do we start?

[Griffin NoName]

When do we start?

Probably need a few more banks to fail so however much longer that takes

[beagle]

When do we start?

I think Gordon Brown may have started already. Our tax legislation has just overtaken India's as the World's longest and most bureaucratic.