Mr Javid said he was still thinking about whether changes might be needed to the government's current long term plans of eliminating the deficit by the mid 2020s.
In June, Prime Minister Boris Johnson outlined plans to raise the threshold for the higher rate of income tax from the current threshold of £50,000 to £80,000.
BBCPolitics Scrap VAT and refuse to pay it on EU imports.
Why would a merchant banker simplify the system that made him wealthy. Those of us that lost our pension pots in the crash should be hanging the likes of him.
BBCPolitics Wonder if it might be along these lines: 1. Tax cuts for wealthy 2. Tax cuts for corporations 3. Stealth tax for citizens.
BBCPolitics Scrap corporation tax
I hope simplify means pay less.
More for them, less for us I’m guessing
You will probably just tinker around the edges like most before you leading to even more complex rules.
Muslims are taking over UK
Is that so he can understand it?
RevokeA50 🤯😱🤢
So the loan charge? Is included? Overhauling freelance system? Umbrella Company was an advised way of being paid for self employed. No paperwork/responsibility/IR35. Promoters responsible for loan structure. We paid fees. BorisJohnson sajidjavid NoRetroTax STOPtheLoanCharge
I don't trust this ex banker.
🤔🤥🙄
BBCPolitics there are reasons why it is the way it is and messing around to get your cheezy grin in the newspapers is only goin to add a layer of risk to what is a long period of uncertainty (-ve yield curve)
And given the public services are funded from taxation he presumably want's to cut them further although they already seem to be on the point of collapse from the previous cuts. The economy is not likely to boom to bale him out because of the global downturn and Brexit.
BBCPolitics To the benefit of whome in the medium and long term we wonder; guessing it’ll be the A types
He is not the man for the job
For the 1%
Surely his first promise will be remove VAT given that on the 29th we leave the EU so as we are promised money will be awash in the government’s coffers
This Sajid Javid?
BBCPolitics All of the superannuated civil servants who rely on it's complexity for their jobs will not like that.
BBCPolitics Make tax more efficient = code for making avoidance much easier.
Maybe they need to reduce the lowest tax back to 10% so the poorest aren’t hit with that 20% rate instantly Ifcthe lower tax payers were also helped there would be less complaints about the rich getting a tax cut! Make it fair & stop punishing the poor for everything 🤬
BBCPolitics When coupled with that slightly sinister “I know something you don’t know” smile, that promise chills me somewhat
The SDLT proposal would reduce house prices by reducing the funds available to sellers when they trade up. Sellers won't be able to increase asking prices to compensate. They already sell for as much as they can get. Buyers won't care about their increased tax costs.
BBCPolitics What, MORE offshore tax havens for his cronies ?
BBCPolitics In other words reduce tax for the rich (Tory donors) whilst increasing the overall tax revenue for worse public services.
Yes no tax for his rich mates
This is a man not to be trusted..... he should not even be in our parliament.....
Rich will pay no tax. Poor will continue to carry the country. Fairly simple tax system.
Translated = 1. I am going to absolutely fuck all to address British oversea tax havens. 2. I will abolish & reduce as much Tax for my rich cronies as I can. 3. No plans to do anything at all about non Doms & Corporations paying absolutely no Tax at all.
Hopefully includes repealling offpayroll as all freelancers and businesses are finding this difficult.
'Will' simplify? Strange headline given not one single proposal, just a general feeling for lower and simpler taxes. Far more important seems to be 'interest rates are low so I'm abandoning the deficit targets and have found the magic money tree. Borrowing'.
sajidjavid will also need to simplify the benefits system too to cater for all those: 1. Bankrupted through the 20 year retrospective LoanCharge 2. All those freelancers being cut due to new IR35 rules Get ready to claim!!! BorisJohnson Conservatives JoJohnsonUK
Great! STOPtheLoanCharge as over 250 MP’s have told you.
In favour of the richest, of course!
Simplify means for the rich so they pay less and can squirrel away more, no change for ' the poor' which they now define as most of us...
If he does simplify the tax system and remove loopholes, it would at least stop leftist talk of a 'fair share' of tax where firms and individuals owe a certain amount by law and are meant to guess what the morally correct sum should be and pay that instead.
He could start by closing all tax evasion/avoidance loopholes, that would simplify a lot of things.
BBCPolitics He’s full of hot air. Has made lots of pledges before that he can’t keep.
Haha
Perhaps end the bizarre tapers on income and pensions taxes that do so much to make otherwise simple taxes complicated. What is the justification for the 60% marginal rate for incomes between £100k and £125k which drops to 40% thereafter?
I might nit be a savvy spiv banker but I don't understand how reduce your potential revenue means you can spend more.
Well for 80% of earners the tax system is pretty straight forward. You have an amount of gross earnings and the government reaches in and takes your PAYE.
2 Mins With Rishabh Gulati 10 True Stories To Remember | NewsX via YouTube
Javid’s simplified tax flowchart Are you wealthy? | | NO. YES pay less tax | | | pay more tax
BBCPolitics Translates into tax breaks for the wealthy and fuck the rest of us.
BBCPolitics No doubt more relief for the high earners and more penalties for the remaining 95% - The Tory ethos is despicable.
That is give big tax cuts to the rich
Because Brexit will leave us with no taxable income?
Excellent - I will be able to understand how I am shafted.
How about simplifying the useless online tax system so that you don't have to answer 50 irrelevant questions just to claim car allowance for work
BBCPolitics Good - about bloody time
I wonder who for
BBCPolitics simple mind
BBCPolitics One feels sure he will, along the lines of it you are likely to vote Tory you will pay less, otherwise a bit more.
simplify for a simple mind-no matter what the rhetoric, the rich will have a cut in tax to buy a yacht the poor if they're lucky a loaf of bread. the puppet master as already sorted the budget for him
Stop taxing pensioners, we have paid tax on all things duribg our lives now you are taxing us to death
Planning a holiday in Belfast, in English-occupied Ireland
BBCPolitics Big companies run by his mates will pay nothing and offshore tax exemptions for anyone over £100k - Tory simplification!
BBCPolitics His mates will simply pay fuckall
TO MAKE IT SIMPLE, THE RICH DONT PAY AND THE POOR WILL PAY MORE, THE CONSERVATIVE PROMISE!!
Brexit is for the mega rich that wanna avoid European tax regulations, nothing more nothing less and a lot of you let these disaster capitalists con you into thinking this was a good idea 😂😂😂
Kyrano
Wasn’t Universal Credit a ‘simplification’
BBCPolitics Is he required to deliver it using Pounds Shillings and Pence to comply with JRMs’ guidelines?
Stop taxing overtime. Any hours over 39hrs should be tax free. Let us keep what we work for.
The HMRC only chase people evading taxes in few thousands but do not dare to go behind the once hiding millions and billions to me capitalism have failed when you have 5% people control over 55% of wealth.
High spend and low tax......hmmm that must equal high borrowing?!. Isn't that what labour were slagged off for by the tories last time?
Another Tory 'smiling assassin'.
BBCPolitics Yes Tory version tax the poor to fatten the rich. Simples
Just like that hmmm
I hope they do stick to the promise of raising the higher rate tax threshold from £50,000 to £80,000.
Sajid Javid promises to 'Simpify' the tax system in first Budget.
That’s long overdue. It’s a least twenty years since the Economist pointed out that the massive complications of one tax tweak after another needed radical reform
BBCPolitics By simply letting the rich get richer and the poor get poorer
income tax , the one that effects us all most personally is already simple most of us pay 20% of are earnings above £220 per week tax . therefore if we earn £ 400 per week we pay £ 36 per week tax . . . . . individuallights
VAT 25% 🤨
pisssd guess what mr javid I if you make sellers pay stamp duty I will just add it onto the price of the house or not sell it to start with don't think you thought this one out very well
How about closing loopholes so that the rich pay the appropriate taxes. Oh no, we are leaving the EU so that we don’t have to do that.
More money for the rich boys. Simple.
'Simplify' = raise for the majority. All this popularist spending has to be paid for.
Interested to see if it involves tax cuts for the highest paid?
How is swopping stamp duty from buyer to seller going to get the housing market moving again? This is going to make prices increase while sellers try to recover their costs. Far better to reduce the top rate.
sajidjavid start with Flat tax corporate and personal raise more money less cost in collection , change VAT cut by half and rename purchase Tax
So Sajid Jawed is not worry about his home country of orign, KashmirIssue he would say he is not Muslim & Not Kashmir I think desi politics is invading UK. sajidjavid he do too much fake publicity stunts to make people foolish who then vote him! Its corruption.
Nothing has been said in this article at all. All maybes and might and we’ll look at.
Simplify? I think he means 'raise'. When politicians say simplify, they never mean 'lower'.
Same old sTORY sajidjavid Too many promises yet the likes of JeffBezos dyson DailyMailUK BootsUK BarclayBrothers Dacre richardbranson still avoid billions in UK tax. BalanceBritain will bin the 13,000 pages of tax law & level the tax playing field for all. Live 1/9/19
Low earning pays more tax than higher earner. If Govt back to 28% tax system, they balance by increasing Council tax, road tax, etc...
'We will simplify the tax system by taking everything from poor people and giving it to rich people.' [/SATIRE]
Yes get rid of sugar tax bag tax paying ni when you don’t pay tax and councils taking 6% council tax for less services using it for vanity projects
Do that he can understand it. It will invariably only benefit the rich, because that is the Tory tagline.
Of course he will. 🙄
So higher earners pay less, lower earners pay more I presume? Usual Tory fiscal BS
For Boris’s benefit.
I'm a little confused with regarding the tax system. The easiest way to make it easier for everybody is to base the tax rate on one's earnings and to specify that there's no leverage what's so ever. Tax means you pay what's been stated as the law. Simple.
I don’t trust him....a bit like the Brussels Broadcasting Corporation,no honesty or integrity
He's saying all the right things. It's about tax receipts not rate, simple is good and sort out stamp duty. We need to get money moving round the economy at pace.
That’s what republicans claimed here in the US and all they did was give themselves a huge tax cut and screw over the poor and middle class.
His idea of making sellers pay stamp duty could simply push house prices up or make people reluctant to sell. There’s no way of knowing who in reality would pay it.
I get two things from this no attempt to tackle the poverty gap and simplification or is it take from the poor give to the rich. Of course the maximum possible tax rate would be 100% this may open the window on Sajid Javid level of understanding or lack of.
Will he even be Chancellor long enough to set a Budget? If so, he needs to do something around pension tax relief and get rid of the pension triple lock. The former is likely given the issues with doctors, but the latter will be left in place, as pensioners tend to vote!
Flatter, simpler, lower taxes - finally a Tory chancellor 👍
What’s complicated? 99% of the population pay the taxes they have to pay and 1% pay the taxes they want to pay. Simples.
What’s complicated? 99% of the population pay the taxes they have to and 1% pay the taxes they want to. Simples.
It starts
Lowering corporation tax? ... please
Says a senior ex banker at Deutsche Bank on about £3m/yr in the thick of things during the financial crisis. Bankers have an excellent track record for financial competenceas everyone knows.
Good joke!Does he even know how many taxes we pay?Income Tax,VAT,Corporation Tax,Gains tax,Council Tax,Stamp duty,Road Tax to name a few yet look at the state of the roads/basic infrastructure,education,health the entire country is suffering.Dontmind paying but want monies worth
Simplify as in fucking over poor people?
Another one of life’s dreamers!!!!! Put your money where your mouth is for the best of the publics life quality and not just in the hopes of your career progression!!!!!
he is taking to serious this couple of months job. LOL
We all pay the same 28%? Watch how they will benefit the rich. Give a headline bigger allowance, but give away more at the top end. Always a Tory. Yet, they are spending a fair bit!
👍
Like he simplified his hairstyle.
By that he means rich and corporations pay less
yes he will , fuck all for public and more for the rich .
This baldy can do that?
He does have a very round head x
he means for the rich. your income tax will make up the shortfall
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