15. Create a Register of Trusts, particularly off-shored ones.
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15. Create a Register of Trusts, particularly off-shored ones.
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14. Create a Register of Beneficial Ownership to flush out silent business partners.
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14. Create a Register of Beneficial Ownership to flush out silent business partners.
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13. Create a Register of Firms that bid for government contracts that lists their tax records.
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13. Create a Register of Firms that bid for government contracts that lists their tax records.
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12. Require large firms to publicly release their tax returns.
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12. Require large firms to publicly release their tax returns.
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11. Hold a Public Inquiry into the Panama Papers leaks.
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11. Hold a Public Inquiry into the Panama Papers leaks.
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10. Strengthen existing measures to prevent the off-shoring of profits so the tax burden can be reduced for everyone.
10. Strengthen existing measures to prevent the off-shoring of profits so the tax burden can be reduced for everyone.
9. Require tax to be paid and debts to be settled at the point of one company transferring assets to another, which will prevent rogue traders from running up massive liabilities, transferring the assets to a new company, and running off with...
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9. Require tax to be paid and debts to be settled at the point of one company transferring assets to another, which will prevent rogue traders from running up massive liabilities, transferring the assets to a new company, and running off with...
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8. Automatically fine companies 200% of their estimated tax bill, 10% of annual revenue, or £20,000 (whichever is higher) if they fail to file annual accounts. If it is not paid, the directors should go to prison for 2 years and be banned from...
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8. Automatically fine companies 200% of their estimated tax bill, 10% of annual revenue, or £20,000 (whichever is higher) if they fail to file annual accounts. If it is not paid, the directors should go to prison for 2 years and be banned from...
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7. Require banks to tell HMRC what businesses they have given a bank account to each year, including for anyone based in the UK, and make the directors/owners of those businesses personally liable for paying the bill owed by...
#DiscoverMMT
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7. Require banks to tell HMRC what businesses they have given a bank account to each year, including for anyone based in the UK, and make the directors/owners of those businesses personally liable for paying the bill owed by...
#DiscoverMMT
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6. Invest £1 billion into HMRC so they can collect all tax owing from the UK’s 5 million companies as 30% of the total is currently unpaid. Local tax offices should be brought back and inspectors trained to know businesses in the area.
#DiscoverMMT
6. Invest £1 billion into HMRC so they can collect all tax owing from the UK’s 5 million companies as 30% of the total is currently unpaid. Local tax offices should be brought back and inspectors trained to know businesses in the area.
#DiscoverMMT
5. Introduce a new VAT premium band of 40% for luxury goods sales like yachts, high-end cars, private jets, purchases of single-item, non-essential goods valued at £1000+ etc. (cars & other transport: £80,000, agricultural vehicles...
#DiscoverMMT
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5. Introduce a new VAT premium band of 40% for luxury goods sales like yachts, high-end cars, private jets, purchases of single-item, non-essential goods valued at £1000+ etc. (cars & other transport: £80,000, agricultural vehicles...
#DiscoverMMT
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4. Introduce a Withholding Tax on payments to tax havens including dividends, interest payments, royalties and service fees.
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4. Introduce a Withholding Tax on payments to tax havens including dividends, interest payments, royalties and service fees.
#DiscoverMMT
3b. Until Land Value Tax replaces Council Tax, we would change the rules regarding council tax arrears and debt collection i.e. that they cannot demand a year's worth of payments in one go. If someone misses a payment because of...
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3b. Until Land Value Tax replaces Council Tax, we would change the rules regarding council tax arrears and debt collection i.e. that they cannot demand a year's worth of payments in one go. If someone misses a payment because of...
#DiscoverMMT
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3a. We would replace Council Tax with a tiered Land Value Tax based on contemporary land values:
Proposed rates:
(a) 0.5% for primary residences and smallholdings (less than 5 acres).
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3a. We would replace Council Tax with a tiered Land Value Tax based on contemporary land values:
Proposed rates:
(a) 0.5% for primary residences and smallholdings (less than 5 acres).
#DiscoverMMT
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2b. However, we will introduce a tiered Exit Tax for those who wish to leave. The UK monetary system gave their assets their value so if want to move to another jurisdiction they must pay to settle up their obligations in this one...
#DiscoverMMT
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2b. However, we will introduce a tiered Exit Tax for those who wish to leave. The UK monetary system gave their assets their value so if want to move to another jurisdiction they must pay to settle up their obligations in this one...
#DiscoverMMT
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2a. Vested Establishment interests will claim our proposals don't work and the most unpatriotic of them will do their usual scare tactic of threatening to leave and take their money if we go through with them. Our counter-argument...
#DiscoverMMT
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2a. Vested Establishment interests will claim our proposals don't work and the most unpatriotic of them will do their usual scare tactic of threatening to leave and take their money if we go through with them. Our counter-argument...
#DiscoverMMT
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1. Money acquired from work should not be taxed at a higher rate than unearned income from wealth, rent, landlordism, dividends etc. People who earn money with their hands and their brains shouldn’t be paying more than those who...
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1. Money acquired from work should not be taxed at a higher rate than unearned income from wealth, rent, landlordism, dividends etc. People who earn money with their hands and their brains shouldn’t be paying more than those who...
#DiscoverMMT
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Our taxation regime would be based on the principle that tax is the rent you pay for your room here on Earth and if you want a nicer room, you have to pay for it, just like in any hotel. Tax is the price of civilisation. It is also a...
#DiscoverMMT
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Our taxation regime would be based on the principle that tax is the rent you pay for your room here on Earth and if you want a nicer room, you have to pay for it, just like in any hotel. Tax is the price of civilisation. It is also a...
#DiscoverMMT
buff.ly/sslFONS
A People Power government would use fiscal policy as the primary method of inflation control, ending the era of monetary policy dominance. We would increase tax rates if there was a risk of demand for goods and services outstripping...
#DiscoverMMT
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A People Power government would use fiscal policy as the primary method of inflation control, ending the era of monetary policy dominance. We would increase tax rates if there was a risk of demand for goods and services outstripping...
#DiscoverMMT
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Taxation has several purposes for those with an understanding of Modern Monetary Theory. It gives value to the currency (as everyone needs to acquire it to settle their tax liabilities), to control inflation, influence consumer...
#DiscoverMMT
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Taxation has several purposes for those with an understanding of Modern Monetary Theory. It gives value to the currency (as everyone needs to acquire it to settle their tax liabilities), to control inflation, influence consumer...
#DiscoverMMT
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31. Discourage shell companies by requiring modest minimum capital thresholds for high-risk sectors.
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31. Discourage shell companies by requiring modest minimum capital thresholds for high-risk sectors.
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30. Require company directors in high-risk sectors to take out liability insurance e.g. for pension or environmental liabilities.
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30. Require company directors in high-risk sectors to take out liability insurance e.g. for pension or environmental liabilities.
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29. Hold company directors personally liable for reckless trading, fraud, or deliberate misconduct, and lower the threshold for misconduct e.g. repeated insolvencies or use of tax avoidance schemes.
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29. Hold company directors personally liable for reckless trading, fraud, or deliberate misconduct, and lower the threshold for misconduct e.g. repeated insolvencies or use of tax avoidance schemes.
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28. Define cryptocurrencies legally, bring them under UK regulation via the Financial Services & Markets Act 2023, extend anti-money laundering and counter-terrorism financing rules to crypto firms, require them to register with the...
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28. Define cryptocurrencies legally, bring them under UK regulation via the Financial Services & Markets Act 2023, extend anti-money laundering and counter-terrorism financing rules to crypto firms, require them to register with the...
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