Should income tax relief on pensions be limited to 20% for all savers?*

Posted 5 years.


  • Peter F Mill - 5 years ago

    Maybe a Flat rate tax for all would be, simple, transparent and most of all fair.
    Basic Personal Allowance £10-11k pa increased by CPI rate pa
    Flat Rate Tax at say 25%, or 35% if you consolidate Nat Ins payments.
    Scrap Council Tax, expensive to collect and only brings in 20% of what the Local Government spends, rest come from the Tax-payer anyway. BUT
    Review how central governments [political parties] allocate funding to local government, THEN
    Introduce a 1% Property Tax payable annually, using Land Registry values [90% of Property is registered]
    As for the Can't pay, Won't pay Brigade. As the tax is paid by the owners, not the tenants, place an attachment order. if no Property Tax as been paid for say 5 years, no problems, Property Tax is charged at 5% of the actual sale price.
    I believe in the KIS principle, Keep It Simple.

  • A Keaney - 5 years ago

    I think 20% is a good figure

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