Compulsory Retirement!

[foxwelljsly]

I'd like to know what job the 85 year old in the OP is doing. I consider my time to be colonised by work. I have yet to find any form of well remunerated work that I prefer to, say, skiing, cycling, hiking, gardening or talking bollocks on the internet whilst I drink wine and listen to Neil Young records on my fancy stereo.

 

[ks.234]

Not sure that would work for long. Wealthy people, some based offshore, will receive lots of money but not necessarily spend it in the UK, so tax is then not collected. To fix that would need exchange controls - which seems like a backward step.

Why? Now that we’ve left the EU aren’t we proud of our pound. Anyone who wants to deal with filthy foreign lucre should be subject to the fine English tradition of forfeiture. It’s the only language they understand

 

[dweezil]

Just do what the yanks do.
All UK citizens pay tax on all income wherever in the world it is earned.
It’s the price you pay for citizenship.

I think there's a general rule to avoid double payment, thus i pay my US tax then get it back or pay less in UK.

 

[JensenHealey]

Why? Now that we’ve left the EU aren’t we proud of our pound. Anyone who wants to deal with filthy foreign lucre should be subject to the fine English tradition of forfeiture. It’s the only language they understand

Any country that wants to trade properly cannot be doing with exchange controls. You end up with another government department that you have deal with when you export a jet engine. It is a retrograde waste.

 

[Bob McC]

I think there's a general rule to avoid double payment, thus i pay my US tax then get it back or pay less in UK.

Most of the twats I’d like to target are the tax exiles that live in places like Monaco where they pay no tax.
Philip Green and wife for instance.

 

[ks.234]

Most of the twats I’d like to target are the tax exiles that live in places like Monaco where they pay no tax.
Philip Green and wife for instance.

Sir Philip Green y’ mean? One thing we could do is deny british honours to anyone who cannot demonstrate that they pay their full tax in the UK and live in the UK. British Knighthoods, various British gongs, British Sports Personality of the Year for the British

 

[Sue Pertwee-Tyr]

Sir Philip Green y’ mean? One thing we could do is deny british honours to anyone who cannot demonstrate that they pay their full tax in the UK and live in the UK. British Knighthoods, various British gongs, British Sports Personality of the Year for the British

Yeah, let's take back control. Sovereignty means British gongs for British people, innit.

 

[Bob McC]

Sir Philip Green y’ mean? One thing we could do is deny british honours to anyone who cannot demonstrate that they pay their full tax in the UK and live in the UK. British Knighthoods, various British gongs, British Sports Personality of the Year for the British

And certainly no tax payers money bailing them out because of covid 19.
Branson should have asked the British Virgin Islands to bail him out.
After all that is where he is registered for tax.
Of course there is no income tax there.

 

[thebigfredc]

Most of the twats I’d like to target are the tax exiles that live in places like Monaco where they pay no tax.
Philip Green and wife for instance.

And F1 drivers such as Jackie Stewart and Lewis Hamilton.

 

[thebigfredc]

I'd like to know what job the 85 year old in the OP is doing. I consider my time to be colonised by work. I have yet to find any form of well remunerated work that I prefer to, say, skiing, cycling, hiking, gardening or talking bollocks on the internet whilst I drink wine and listen to Neil Young records on my fancy stereo.

He designs cooling systems.

As well as receiving help from the Treasury whilst furloughed, because of his age he also gets a free TV licence, heating allowance, bus pass and prescriptions.

He is wealthy no doubt and it seems madness to me that people on or just over minimum wage are subsidising his lifestyle.

 

[ks.234]

And certainly no tax payers money bailing them out because of covid 19.
Branson should have asked the British Virgin Islands to bail him out.
After all that is where he is registered for tax.
Of course there is no income tax there.

Exactly

 

[Bananahead]

Just do what the yanks do.
All UK citizens pay tax on all income wherever in the world it is earned.
It’s the price you pay for citizenship.

No taxation without representation.

And I am actually ashamed to be British anyway.

 

[wacko]

Just do what the yanks do.
All UK citizens pay tax on all income wherever in the world it is earned.
It’s the price you pay for citizenship.

But then the million Brits in Europe should have had a vote on Brexit. Enough to invalidate such a momentous upheaval.
Plus those abroad for more than 15 years who are also disenfranchised.
The rich 'yanks' pay very little tax: the richer they are the lower the %. Ask Warren Buffett who pays about 15% like other billionaires.

 

[AlexG]

He designs cooling systems.

As well as receiving help from the Treasury whilst furloughed, because of his age he also gets a free TV licence, heating allowance, bus pass and prescriptions.

He is wealthy no doubt and it seems madness to me that people on or just over minimum wage are subsidising his lifestyle.

Surely the solution is to means test the TV licence, heating, bus pass and prescriptions then, not to forcibly retire someone.

Knowing this Government they'll start to look to deport/cull/inter the elderly by accident anyway - after all, if they're retired, they aren't contributing the The Economy and will become an increasing burden on a failed state.

 

[Tony Lockhart]

Sir Philip Green y’ mean? One thing we could do is deny british honours to anyone who cannot demonstrate that they pay their full tax in the UK and live in the UK. British Knighthoods, various British gongs, British Sports Personality of the Year for the British

Ditch the gongs completely. Just as clapping for the nhs is meaningless except to those deciding to not give the nhs decent payrises, gongs are meaningless except to those who get them because of ‘others bugger’s efforts’.

 

[wacko]

^ already got rid of 60,000 of them. Give it time...

 

[Sue Pertwee-Tyr]

He designs cooling systems.

As well as receiving help from the Treasury whilst furloughed, because of his age he also gets a free TV licence, heating allowance, bus pass and prescriptions.

He is wealthy no doubt and it seems madness to me that people on or just over minimum wage are subsidising his lifestyle.

This is pure DM. On what basis have you 'no doubt' that he is 'wealthy'? And people on minimum wage are not 'subsidising his lifestyle', they are contributing to the same tax pot as everybody else. So if they are 'subsidising his lifestyle' they are also subsidising the billionaires whose rate of taxation is less than the PAYE rate for their income would be. And there are many, many people who have fully retired with decent pensions who can well afford their own heating, TV license and public transport. Are they leeching off the state too? It's a dumb thing to equate paying tax with subsidising somebody else and it's the politics of envy and division.

He may be an acknowledged expert in his job. His employer may have failed to recruit somebody to take over. Maybe the systems he designs are a bit arcane, but still used? I'm aware that there are ancient mainframe computer systems still in use in this country, whose operation relies on people well beyond retirement age, because nobody younger understands them. Should they be forcibly retired, and the systems summarily shut down (do consider, some of these could be part of important infrastructure)?

He may just be doing a bit here and there to keep his mind sharp, to keep busy, to maintain a sense of self-worth. Do you know for sure? Why make an example of him?

 

[dweezil]

He designs cooling systems.

As well as receiving help from the Treasury whilst furloughed, because of his age he also gets a free TV licence, heating allowance, bus pass and prescriptions.

He is wealthy no doubt and it seems madness to me that people on or just over minimum wage are subsidising his lifestyle.

You're building quite a narrative from the limited information; he could be on minimum wage, main carer for his wife struggling to keep house. home and family fed.

 

[Woodface]

The 85 year old has probably been a tax payer for nearly 70 years. Good luck to him.

 

[dweezil]

And certainly no tax payers money bailing them out because of covid 19.
Branson should have asked the British Virgin Islands to bail him out.
After all that is where he is registered for tax.
Of course there is no income tax there.

Thus there's no cash there.

The worst aspect of many tax havens is that apart from a few highly paid bankers and legals the populations can be as poor as anywhere else.

The islands are still recovering from the hurricane season three years ago.

A 1% tax could transform BVI.

Maybe Richard should have sold an island and paid his CGT before bailing out the business.

IIRC Necker cost him under £100k so he's done quite well!