it is simple for me I pay Vat and rates on the property that I have as it should be
Mope.
No reclaiming. No offsetting your losses. If a business can’t deal with this very simple requirement when a great deal of the administrative bollocks has been sheared, it shouldn’t be in business.
What I really like about it is that we can finally tax wealth as rigidly as we tax employment
So, if I buy a piano for £500 and sell it for £1000 including delivery, I pay tax on the thousand that comes into my account? And ignore the £500 that went out to buy it and the £200 or so that I paid the removers?
The receiver of your £500 would cede a per engage.
Your couriers would cede a per engage.
You would cede a percentage on receiving your profit
As a matter of interest, what do you reckon that percentage is?
It would be taxing transactions and not wealth, ultimately the largest tax burden falls on the last in the chain. Client pays contractor, who pays sub contractor, who pays sub sub contractor, who pays sub sub sub contractor, etc until the poor bastard who actually did the work has had the money rinsed by tax at each stage. Money starts somewhere, so in this idea, if the originator has liquidity they pay no tax on the service/product/outcome. Seems strange to me.
This can be done, maybe not as simply as Pap says but if you cut out a lot of the shite then the tax take will probably go up
One thing I would question is CGT on investment in wealth creating business - we want and need people to take risks and set up businesses so I would be inclined to spares them to some degree. I would be more interested in taxing unearned wealth like house price gains
So when we set up this political party for the next Election
1 Nationalise the banks
2 Sort out the tax System
3 Get rid of VAR
@Shroppie gets to be Leader as he is already a Mayor.
@Polski_Filip gets Health
I will not be running as I dont want the Sun digging into my background or I would be the first to resign.
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I’d imagine it would be minimal, if it applied to every payment into a universally compulsory account? 
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I don’t deny it’s a transaction tax. That’s the beautiy of it, imo. Everyone, especially the wealthy, makes transactions. And yes, we’re already making a ton of money with VAT at 20% but that only covers a subset of transacttions.
I think the rate could actually be quite low due to the universalism of it. If you think of all the corporations with creative tax arrangements, just getting some of those in line would create a lot of money.
I also think there’s a concept there people will like. Whatever lands in your account is yours.
Ooh, that is very good.
That was so much worse than a Bacon Sandwich…
It finished him
Was never comfy with the bacon sandwich and would love to know if Milliband eats bacon usually.
He’s a Jewish lad after all.
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That’s enough to get you excommunicated for antisemitism by Starmer and Co. 
Equally, a cynic would wonder who planned Rishi’s day, i would imagine his PPS or whover does that stuff is either 1) looking for a new job or 2) booking their round the world cruise with the bung from “a sponsor”
Not sure Rishi books helicopter trips
In the same way a cynic wonders who set that Bacon photo up…
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In the interests of accuracy, I am now an immediate past Mayor. I’ve finally escaped.
From a non voting distance, it seems an incredibly sad indictment of modern UK that the tories “had one idea” and are manically sticking to that.
No intellectual debate, just negativity whingeing Pom ism taken to a new level where you imply something unproven and focus on whingeing about it.
Makes one pine for the intellectual greats of the past, IDS, Micael Foot, Theresa May, Cyril Smiyh…
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I thought you had been promoted to Chauffer ?
On a casual basis, yes.
The day jobs are running the local community transport scheme, Town Hall Trustee, still a Councillor, LibDem campaign team member.
And professional grandad.
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…Liz Truss…