It is time that our politicians did more than tinker with UK tax law. The system is broken. We should tear up all existing tax law and start again. Keep it simple. Nothing is a tax deductable expense and tax must be paid on ALL business activity in the UK and be paid immediately at the time the money is earned.
Think about it, if we did this we would no longer have mountains of legislation to trawl through and try to interpret. The ordinary man or woman in the street pays their taxes automatically through government approved software and the PAYE system, plus the automatic collection of VAT. Why can we not have companies pay their taxes automatically at the time of sales and then let each company put in claims to get taxes back, based upon their industry as each type of business has different needs and we could then give support to firms on a business to business basis.
Having them pay the headline rate of 20% would mean that the country was not in growing debt as it is now. We would earn interest on monies held by the HMRC while waiting for firms to make tax claims and the system would be working for the people and not against them as it is now.
For as long as their have been taxes the poorest end of society, the 98%, have been forced to pay come what may while the wealthy have had ways and means available to them to avoid paying their taxes, this has to be ended now. It is time that ALL men and women were treated in the same way. And when I say this I do not mean that we too should have the right to use tricks to avoid taxes too I mean we should have the wealthy elite FORCED to pay up as we are. Almost all the worlds national debts are as a DIRECT result of those wealthy types not paying up. If we, as a species are to move forward together then “they” must be made the same as us. If they wont play ball then we should seize their assets, nationalise their companies and kick them from our shores.
In terms of big businesses I think they need us far more than we need them. How can I say this when they employ so many people? Easily. We live in a nation where once our high streets were clogged up by small businesses run by entrepreneurs and we could be like that again if we ditched the major chains. More people would be employed and competition would be more intense. If Starbucks for example were to leave the UK we would see small cafe businesses popping up to replace them in no time. The same applies to the supermarkets, they would be replaced by butchers, green grocers and such. If they will not do the right thing and pay their fair share then they must be forced to do so by any means necessary and if this has to mean resetting the whole tax system then I say that we should do it as soon as possible.
Please like and share this if you think I have a point, let’s get the UK talking about it and then actually do it! The sooner the better I say!