Should the U.K. raise taxes on the rich?
The top tax rate in the UK is 45%. For the 2022/23 tax year, if you live in England, Wales or Northern Ireland, there are three marginal income tax bands – the 20% basic rate, the 40% higher rate and the 45% additional rate. Marginal bands mean you only pay the specified tax rate on that portion of salary. For example, if your salary puts you in the 40% tax bracket, then you only pay 40% tax on the segment of earnings in that income tax band. For the lower part of your earnings, you’ll still pay the appropriate 20% or 0%. If you live in Scotland, there are five marginal income tax bands – the starter rate of 19%, the 20% basic rate, the 21% intermediate rate, the 41% higher rate and the 46% additional rate.
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@9QPHJHD9mos9MO
Remove loopholes for large corporations and lower overall income tax rate but also separate out high income tax I.e. People on 500k should be taxed more than those on 150k.
@9MWLFZX10mos10MO
Increase all personal tax allowance brackets and close tax loops that allow corporations to avoid paying tax in the UK
@8YN5C8L3yrs3Y
Yes, and lower the taxes on poor people
@8YGB6VVAnimal Welfare3yrs3Y
Remove all tax loop holes for large corporations
@B3V36J33wks3W
tax rate rather than being a proportion of what you earn each year, it should be for example the first hundred thousand has x tax rate, second has y, third has z so on and so on. So young people do not pay much in taxes so life is more affordable for them as they are starting out. Also removal of tax loopholes
@B27WT9T3mos3MO
Close the loopholes that already exist so the taxes we are already initialled too are actually collected.
@9PQWDD29mos9MO
Keep the current rates but increase the thresholds on low incomes rather than tax and give back via universal credit.
I think tax should be raised for rich and lower the tax rates for poorer people and remove any tax loopholes for large corporations
@9M5DMJMConservative11mos11MO
Lower it for the rich and make it equal. Why should the rich be tarnished for working hard and then help those who dont work as hard?!
@96NFZK32yrs2Y
Yes, and prevent them from abusing the tax system, by imposing monetary fines that has a serious financial impact.
@92HK3JSConservative3yrs3Y
no but cut national insurance on people in lower tax brackets
@92775SQ3yrs3Y
Define rich. I disagree with the current tax brackets. £50k for higher rate tax is too low. But millionaires+ can and should contribute more to a society.
@8SM4QD64yrs4Y
Tax system needs full reform it needs to be much fairer based on income. Increase the income tax to 4 or 5 income groups . Remove vat as this an unfair tax all income groups pay the same. All business trading & making income & profit in the UK must pay full Tax due.
@8S7KV6TConservative4yrs4Y
Tax massive companies which use loopholes in law to not pay tax, it's unfair for them not to pay.
@8RVXZ464yrs4Y
No, but tax put tax brackets on company private revenues
Yes, make it a little higher for the Middle Class and the same for the poor
@8QVW5S64yrs4Y
yes, but it depends on if the money if inherited or not.
Create a more graduated tax system and cap the maximum at 40% which is only for people who earn 150k plus
Potentially - the tax system should be more graduated, instead of 20 or 40%. Under 20K should pay no tax, up to 40K should be 10% etc and cap it at 40% income tax
@9CYFBXS2yrs2Y
Maybe slight tweaks but tax burden already relatively high without a lot of return
everyone taxed the same percentage eg 10%
@97XCYR72yrs2Y
No, there is no point if the the loopholes are left in place. Actually collect what is currently owed first.
@92WGSP23yrs3Y
The system should be equal and recognisable as equal
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