UK govt to crackdown on wealthy home owners who dodge taxes

[her209]

http://www.dailymail.co.uk/news/art...widens-net-tax-dodgers.html?ito=feeds-newsxml

Taxman to target all £1m home owners in new anti-affluence crackdown as government widens net on tax dodgers

[li]Owners of homes worth £1m or more will come under scrutiny as part of Coalition's new 'anti-affluence' crackdown
[li]HMRC will have power to force those deemed to be paying too little tax to account for every penny
[li]Part of a tax-dodging purge on the rich forced through by Deputy PM Nick Clegg
[li]Danny Alexander: 'The wealthiest did best in the boom years and it is right they should pay more now'

There was some people in Boston, MA that also dodged some taxes. Of course, those people didn't have any say in their government about their taxation, unlike the group that calls themselves by the same name today, but I digress. Dodging taxes that you rightfully owe is unpatriotic when you have representation in your government.

 

[Incorruptible]

When taxes are too high then people shouldn't have to pay for them, there getting screwed. Its a good thing people are taking a stand against this theft

 

[1prophet]

They should seize the homes and give them to refugees
http://cofcc.org/2012/08/refugees-on-welfare-live-in-2-million-dollar-house/

 

[Icepick]

http://www.dailymail.co.uk/news/art...widens-net-tax-dodgers.html?ito=feeds-newsxml



There was some people in Boston, MA that also dodged some taxes. Of course, those people didn't have any say in their government about their taxation, unlike the group that calls themselves by the same name today, but I digress. Dodging taxes that you rightfully owe is unpatriotic when you have representation in your government.

Props to the British for doing the right thing. Now Americans need to grow some balls and implement similar measures in our own country.

 

[SheHateMe]

But..But, rich people shouldnt have to pay taxes cause they work hard for their money and the gobment is just trying to steal their money to give to poor people...

 

[Anarchist420]

That's not only unethical and tyrannical, but it's also stupid. However, that's what Romney's american neoconservative party would do because both parts of the private publicpartnership state love govt revenue, for they're the lifeblood of each other.

Why don't they just make a property tax with a mn pound exemption? It would cost a lot less to enforce since value is arbitrary and if there was no rebellion.

 

[Anarchist420]

http://www.dailymail.co.uk/news/art...widens-net-tax-dodgers.html?ito=feeds-newsxml



There was some people in Boston, MA that also dodged some taxes. Of course, those people didn't have any say in their government about their taxation, unlike the group that calls themselves by the same name today, but I digress. Dodging taxes that you rightfully owe is unpatriotic when you have representation in your government.

You don't own the representation and you cant get to decide what to do with it on your own... I guess you could argue evading tax is anti-nationalist, but why does it matter even if it is "unpatriotic"? If you earned something would you rather spend it how you want to spend it or would you rather have someone else rob you at gun/jail point while the party that robbed you or threatened you gets to spend what you earned against your interests?

 

[CycloWizard]

I love the term "anti-affluence." It so nicely summarizes a lot of what's been going on in politics recently. Passing a law specifically intended to prohibit affluence ("the accumulation of property") should get the point across loud and clear: stop working so hard! Three other people could be marginally employed picking up your slack! YOU are the reason there are no jobs!

 

[Incorruptible]

You don't own the representation and you cant get to decide what to do with it on your own... I guess you could argue evading tax is anti-nationalist, but why does it matter even if it is "unpatriotic"? If you earned something would you rather spend it how you want to spend it or would you rather have someone else rob you at gun/jail point while the party that robbed you or threatened you gets to spend what you earned against your interests?

Well said. The nerve of the op to suggest this is ludicrous

 

[Vdubchaos]

Queens house should be FIRST!!!

 

[Fern]

Props to the British for doing the right thing. Now Americans need to grow some balls and implement similar measures in our own country.

We have these (basically).

The Brits are doing a fairly standard and well known techniques:

1. Target the wealthy for income tax audits. The individual chance of an audit are quite low, 1-2% according to various sources. However, if you're a high income individual, particularly self-employed (i.e., not a W-2 earner) your chances go up dramatically. Obviously, targeting the rich and those who make a lot of money and 'self report' (unlike W-2 filers) are better opportunities to find unpaid taxes.

The IRS immediately enters all tax returns received into their computer system. These are analyzed by program that compares the tax return data looking for abnormalities. E.g., your itemized deductions are greater than your income, or a construction company that claims no depreciation. Tax returns receive a score, the higher the score the more likely an audit. High income returns automatically receive a higher score.

Like our IRS, the Brits are focusing on higher income types.

2. Net worth audits. Obviously the above audit technique only works for those who report income. In a net worth audit the IRS looks at people who have a lot of assets (high net worth). Normally, the acquisition of those assets can explained: High income earner or, if not, receipt of inheritance. If you can't demonstrate how you obtained those assets the IRS will calculate how much taxable income it would have taken to purchase them and send you a bill.

It appears to me the Brit's focus on peoples' homes is akin to our net worth audits.

Fern