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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@9H4FS33 1yr1Y
Add a tax bracket for ultra high net worth individuals to be taxed at a higher rate on income above £500k and remove all existing tax loopholes for large corporations
@8ZFLG483yrs3Y
raise tax on rich and remove all existing tax loopholes for large corporations
@9T943GN7mos7MO
Look at meeting HMRC tax revenue targets, higher tax rates can result in less revenue as higher taxpayers leave the country or set up businesses elsewhere.
@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.
@9QLZBBW9mos9MO
I believe yes, but only when it comes to really really wealthy people such as millionaires and celebrities, very highly paid government officials and even the Royal family, not just your average person who happens to have worked really really hard for the money.
@9QKWBPC9mos9MO
Within reason so as not to discourage businesses from being based in the UK or individuals looking for ways to avoid paying tax, settling in the UK or investing in the UK
@9QKSSWL9mos9MO
Tax brackets should be reviewed as we are basing figures on an outdated view of high income. what was considered ‘rich’ is no longer the case
@9QHFNXLConservative9mos9MO
Add another tax bracket for the obscenely rich and remove all loopholes for individuals and corporations
@9QFXGZG9mos9MO
Everyone should pay the same percentage of earnings, regardless of how much they earn. The same rate is fair
@9QB547K9mos9MO
Yes. But tax the richest in society. Tax Amazon, Google and the top 5% wealthiest. Do not tax the sucessful hard working middle class top income tax payers as they are sn easy target.
@9Q8XGLM9mos9MO
Create more brackets above the current top £150k going up to £1million. Have smaller increases between the brackets. Start the current lowest bracket at a lower percentage.
@9Q6RR8F9mos9MO
More graduated steps increasing tax rates starting at a higher threshold and a higher top rate band.
@9Q45RDZ 9mos9MO
Tax policies are not encouraging high network individuals and companies to invest further in growth sectors eg tech startups. We need the wealthy to feel taking risks by creating jobs here, has a chance to make them richer
@9Q3W5BK9mos9MO
Lower income tax on all except the 1%, increase sales tax and remove all loopholes for large corporations
The term rich is too broad, taxing companies and corporations who do not pay tax in this country should be the priority
@9PYY4BW 9mos9MO
There should be a set percentage of earnings taxed, no matter how much you earn. For example, the whole population gets taxed __% each month.
@9PYKSZ29mos9MO
I am happy to pay higher taxes if the government provide the public services that we all need. A solid social care system, roads without potholes, school meals for children, a functioning NHS etc.
@9PJX28310mos10MO
Reduce tax for key workers such as NHs, teachers and Military in order to create an incentive and retention in these areas
@9PJNV9W10mos10MO
Introduce a land value tax to tax wealth and reduce income tax to incentivise work and efficient use of land and disincentivise rent seeking behaviour
@9P3JW5S10mos10MO
Deploy a low rate tax system to encourage business and high wealth individuals to this country whilst deploying strict immigration laws to ensure we only drive growth and lower dependency
@9P2CQ2210mos10MO
Should work to ensure everyone pays accurate tax. It's not the rich but the super rich who are able to move money and pay a lower share of tax
@9NQ4WBQConservative10mos10MO
Return to increasing the tax free threshold and increase tax on the real rich, i.e. those who earn over 100k a year, not those that earn over 45,k
@9NMZ88P10mos10MO
Should raise taxes for the extremely rich but not the people who are just over the highest tax braket
@9NL828Q10mos10MO
Increase the tax-free boundary, raise the 40% tax rate and 50% tax rate accordingly. Average salaries are going up so the tax rates should be raised accordingly.
@9N99GK810mos10MO
Yes- Stop increasing tax for working class people, tax the rich more and have stricter regulations on those who receive benefits
@9N8LPD610mos10MO
Increase the high earners tax rate to £150,000, but then tax people making over £10million a higher tax rate
@9N64K2V10mos10MO
The current tax structure is ok, but something needs to be done about capital gains tax. The current structure is favourable to ultra high net wealth individuals, with the average Joe being the main target. Also increase the personal allowance.
@9M37JXP11mos11MO
Tax the super rich, not those who are classified ‘rich’ due to living and working in a high cost of living area such as London. For example, a household income of £150k in London is not ‘rich’.
@9LLS3STLiberal Democrat12mos12MO
"Rich" is poorly defined. What is rich in one area of the country is not rich in another. Those in the top 1% income bracket (including inherited wealth and assets) should pay more.
Lower income tax, particularly for the poor? and substantially increase sales tax, particularly for unhealthy activities.
@9LBG87D12mos12MO
I believe that if you are very wealthy such as millions of pounds. You should give more back to the government in a way or National insurance and Tax's. The People that are on the lower system need more support which could include a lower rate to pay.
@9KLK3YZ1yr1Y
Income tax is already high enough and should be reduced or remain the same- larger businesses should be taxed more and reduce loopholes.
@9K5C3XHConservative1yr1Y
No because people get payed more for benefits then working so taxes should be lowered so people work instead
@9DXFZGF2yrs2Y
no and increase taxes on the poor to balance the tax structure.
@9DSC3BN2yrs2Y
Tax brackets should stay the same but current tax loopholes should be removed so that corporations cannot avoid paying tax
@9DSC38J2yrs2Y
Tax bracket should remain the same but remove tax loopholes
@9273J2M3yrs3Y
Yes, and introduce additional tax brackets under £60k income
Should be a set percentage tax for everyone
@8XLSJ4P3yrs3Y
actually find a way to tax the rich as they have multiple ways of avoiding it
@8XD6HP4Liberal Democrat3yrs3Y
Raise taxes on the rich but lower for Lower-middle and working classes
@B27WT9T3mos3MO
Close the loopholes that already exist so the taxes we are already initialled too are actually collected.
@9PWZQWZ9mos9MO
Target large corporations and tax loopholes. Perhaps, lower the income tax rate for lower income brackets. Higher income tax doesn't necessarily make sense. Companies sometimes also profit on working employees, who are the most taxed in general.
Only raise on super rich, and corporate companies, inbound China freight. Not even the 40% higher tax payer, single house provider with a child that is going to become an accidental landlord due to circumstance change and be taxed to high hell with threat of CGT as well 40% working tax.+ Income tax, mega stamp duty to come in the future of want to buy another property to live in.
@9PRFW5B 9mos9MO
Large corporations should be paying more tax. Don’t punish individual high earners who have worked hard.
@9P6LYBDConservative10mos10MO
Raise income tax: £150k earners 60% £100k earners 50% £ 60k earners 40% Below £60k 20% Below £15k 0% Therefore if you earn over £150k you will pay ^0% on what is over £150, 50% on anything over £100k but below £150 etc etc
@9P5Q8SF10mos10MO
The poor should pay less tax and the rich should pay more. Poor people deserve to be able to afford nice house and things
@9NGR5Z610mos10MO
Tax all uk citizens to complete a tax return and if they have paid less tax where they are resident than they would have done in Uk then they should pay tax here, resident or not
@9JR3WYK1yr1Y
If they don't already, they should tax on income. and those who can't pay don't have to pay a penny.
@9H7HFH31yr1Y
Tax should be based on income but those not paying tax due to laziness should not benefit from healthcare etc
@9GL5LS61yr1Y
Reduce income taxes for those earning less than £70,000 a year and increase income taxes for those earning more than £80,000 a year. Create a corporation tax band, in which businesses with less profits pay less tax and businesses with more profit pay more tax. Increase taxes for foreign international companies, but not too much so that they don't avoid coming to the UK. Increase VAT and Excise Duty, especially on alcohol
@9G2KVD31yr1Y
Remove all existing tax loopholes for large corporation, slightly high taxes for the 150 thousand earners , lower it for under 55 thousand .
@9FC4P9C2yrs2Y
The government needs to more to crack down on wealthy individuals who use loopholes to get out of paying their taxes. Such as offshore accounts, shell companies or abuse trust laws. Additionally individuals who have been residing here for a mean of 9 months a year for a decade should be seen as British citizens and pay up.
@9F9T8YR2yrs2Y
Depends on income methods
@9CDC6L52yrs2Y
Another scale should be added, with those earning over a large number including bonuses being taxed more and loopholes for avoiding tax for individuals and corporations being removed
@9BR2YJB2yrs2Y
Yes but also lower taxes for the poor and remove existing tax loopholes for large corporations.
@96PPJC72yrs2Y
No just criminalise nay tax avoidance and tax evasion for the rich and corporate companies
@96P22VD2yrs2Y
No tax for the poor and higher taxes for the rich
@96NFZK32yrs2Y
Yes, and prevent them from abusing the tax system, by imposing monetary fines that has a serious financial impact.
@96JLHTM2yrs2Y
Proportion it to income to raise maximum for public and social services but it dosent hinder peoples wages
@96DYR4M2yrs2Y
ensure that excess profits are taxed
@96975NS2yrs2Y
Raise threshold for 40 percent tax from 50k to 80k
@95XX82L3yrs3Y
Yes but only too 3% in the country
Yes, and increase taxes for the super rich whilst lowering taxes for the poorest
@93KCDW43yrs3Y
Yes, more tax brackets, national insurance should be flat rate/progressive NOT regressive, corp tax should be paid on UK profits regardless of corps HQ country
@93B2CK43yrs3Y
@937WTXY3yrs3Y
Yes, remove the tax free band
@937BSWB3yrs3Y
No, but reduce tax loopholes which are taken advantage and increase penalties
@9356ZW63yrs3Y
I do not have a sufficient knowledge of the effects of tax and the effect of the alternatives.
@932PFCDLiberal Democrat3yrs3Y
Increase tax on the super rich by taxing income generating assets
@92WTXTY3yrs3Y
It should be raised on high earners so £150,000 plus
@92V8FB93yrs3Y
Remove tax avoidance options.
@92RCNS53yrs3Y
Increase tax on certain sales items that include cigarettes, alcohol and other harmful substances including fast food, stop inheritance tax and bedroom tax, tighten tax loop holes for large corporations.
@92QGJBB3yrs3Y
Only if it’s over a certain amount.
@algibson3yrs3Y
Yes, but for the highest tax brackets
@92C2TDX3yrs3Y
Yes for anyone earning well above average
@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.
@927437F3yrs3Y
Yes, and increase the number of tax brackets up to £70k income
@925CWK23yrs3Y
All pay the same certain percentage of what your income is, no matter rich or poor
@924RWR2Liberal Democrat3yrs3Y
Keep current tax brackets. But harsher punishements for tax avoidance.
@8ZGD7Y43yrs3Y
No taxes what do ever unless enforced by stronger people
@8YZJT8L3yrs3Y
Yes, income tax should be raised for the rich and remove all existing tax loopholes for large corporations
@8YJ6TT93yrs3Y
Increase income tax for top earners, but decrease the maximum rate of inheritance tax
@8YGD8NWConservative3yrs3Y
No, but I support a wealth tax
@8YFKZQK3yrs3Y
Yes, if they can afford it more than others
@8Y26RD53yrs3Y
@8XMGLJH3yrs3Y
Yes, and add additional tax brackets to reduce for lower-incomes and increase for higher-incomes
@8XLWVJ8Conservative3yrs3Y
Yes but only for the hyper-rich
@8XKHTR53yrs3Y
Raise taxes on excessive incomes e.g. < £25000
@8X3TPNQ3yrs3Y
What is rich? Over a 100k it should but below that it's stupid. Government has no place in taking money away from people. And if they should have a transparent income outcome plan to avoid taxes being used to bolster the upper classes and government officials rather than going to important issues
@8WJHD483yrs3Y
Same percentage for all but on every pound earned
@8WGGVVC3yrs3Y
Means assessed and based on worthwhile expenditure
@8VRP7QR4yrs4Y
Tax the rich and Abolish the income tax, disallow all deductions and increase the sales tax
@8VH3D6P4yrs4Y
remove tax loopholes for rich and big corporations , raise taxes for rich and large companies , lower tax for poor
@8VGZRBS4yrs4Y
Yes, but only increases for the super rich & introduce a temporary tax bracket for those who have moved social class from their parent income on their first earnings when they enter a new bracket
@8VD8XR54yrs4Y
Yes, massively, and decrease taxes on the working class.
@8TYCBQQ4yrs4Y
Monopoly corporations should pay significant tax
@8TS4VFR4yrs4Y
remove all loopholes, lower income tax rates on lower tax brackets and tax higher tax brackets entirely higher than lower brackets
@8TF7ZBG4yrs4Y
Tax wealth more than income
@8TCQQGH4yrs4Y
No. Close down tax loopholes and crack down on tax evasion
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