1. Personal tax allowance of £15000 2. Flat tax rate of 30% on all salaried earnings over £15000 3. All bonuses taxed at 50% because they are not guaranteed income 4. No more tax breaks for donations etc and close all other loopholes 5. All bonuses shall be strictly performance related and capped as follows - 5. a. Salaries £30000 or less = bonuses capped at 20% 5. b. Salaries £30000 to £60000 = bonuses capped at 15% 5. c. Salaries £60000 to £100000 = bonuses capped at 10% 5. d. Salaries £100000 + = bonuses capped at 5% 6. If an organisation has a bad year, no bonuses are given to anyone 7. Profits/performance data gained by off shoring/outsourcing/redundancies are not included in bonus calculations.
But it also punishes anyone with an average salary compared to high earners Why not leave it as it is and tax high earners more, it's not as this country can afford to give money away.
"4. No more tax breaks for donations etc and close all other loopholes" Does this include gift aid on the tenner you give your mates daughter to run the race for life or just the big charity donations some businesses allegedly use as a way to fiddle?
I was thinking more of the large scale avoidance where we see the very rich paying single figure tax percentages because of donation loop holes. I didn't even realise there was gift aid on that, I must be owed a fortune
But in your 'new system' you're offering massive tax cuts to high earners, whereas the way it works at the moment means that at least charity get some of the money instead
It's all very well tinkering with the tax system, but surely if we just scrapped our Nuclear defence budget completely, then Great Ormand Street Hospital wouldn't have to beg for money on the telly, right?
You think you've got it bad - It's national ' Bob a job week. ' 5p --- that's what I call slave labour.
We have a very repressive tax regime in this country with too much avoidance. What is the point in having high tax rates for the rich when they can just avoid paying tax with so many loop holes?
