beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,025
As each day passes - and the silence on how we continue to trade after 31 Oct 19 becomes deafening - it appears tax is becoming an increasingly important factor. I genuinely do believe the Tries want us outside of the new EU Tax Directive to preserve our tax havens and turn us into an ultra-low tax economy.
The only way to stop a flight of capital out of the UK would be to slash taxes, and with Boris promising an increase in the Higher Rate income tax threshold from £50K to £80K and Corporation tax already committed to falling from 19% to 17% next April God help those depending on social services and state handouts.
its barking up the wrong tree. the sort of corporate tax avoidance the EU rules are aimed at are the Ireland and Luxembourg scenarios, where countries channel EU based business through those countries to benefit lower tax. until recently we did not have as low corporation tax, so why would this be the driver for leaving? private tax arrangements, holding assets offshore/abroad will be unchanged so im led to believe. as rules stand, until there is standardised corporation tax and other fiscal policy across EU, we are free to set our taxes lower just as Ireland does.