EU referendum, brexit and the aftermath

Is the basic idea of a tax haven that you all pay less tax but more people's money is attracted here so your tax receipts are higher?

Tempted to go, but not sure I can stomach an evening of IDS.

Something like that. It might work on a small island, not convinced it'll work on a large one.

It's not just direct tax on companies that creates revenue. Financial institutions and lawyers also generate income and in some cases pay tax due to the transactions associated with the commercial business. That kind of income is a big deal to our economy at the moment, not sure how it compares as a percentage of GDP with the BVI for example but those islands that have tax loopholes do derive income from the associated business which raises their standard of living. It's another dog whistle subject.

The economic theories that suggest taxing companies is pointless. You could instead focus on taxing the individuals who profit from the company which might result in the employees getting paid more.

See Brownbackistan.

I for one look forward to the massive cut to income tax, capital gains tax, inheritance tax, national insurance, tuition fees, VAT, dividend tax, excise duties, council tax and business rates that us ordinary citizens can look forward to in the near future.

Free money for everybody.

Free money for everybody.

But... but there is no 'magic money tree'

There is no magic labour money tree, but if you are a rich conservative voter there is the money knotweed which strangles everyone else.

No magic money tree: a phrase brought to you by the party that has been routinely performing quantitative easing for the last decade.

In which they literally make money.

So you're both saying i've been lied to!?

Now i don't know what to think!

It might work on a small island

We're a pretty small island ;)

But you're right, for small countries it offers an economy (and a better one than fighting over producing the cheapest food products or drug trafficking).

The reality is the UK is already one of the best countries for tax avoidance. We have the structures in place, the skills, the relationships. Therefore, this is a fairly natural progression.

Just thinking out loud here... when you look at the potential of AI to totally lay waste to financial services back office, would this not be an area for that sector to transition to?

That's a very good point.

Life in the former British empire tax havens isn't necessarily great for the common worker...

Not convinced tbh. There are some theories floating around the UK wants out due to the EU tightening some tax rules, not sure if true or 3-2 tinfoil at Tesco :)

Chris Huhne and Dr Joanna Perkins arguing against.

Sign up here, free booze before and after!
http://info.legalsolutions.thomsonreuters.co.uk/LDSPostBrexitTaxHaven

Don't forget to celebrate the fact that today is the 1-year anniversary of the referendum

Maybe celebrate with a 'bulldog spirit' punch-up like this man
https://twitter.com/kidd_kong78/status/877957840597471232

the UK wants out due to the EU tightening some tax rules

There were so many different motivations. But yes was is definitely a factor for some.

The US, Germany and France have all been pretty vocal about the UK's industry. Honestly though I think it's a retarded pov.

As a member allied with all the other tax avoidance countries we would have easily protected our position. All we ve done is give up influence and market share.

Brexshitters seem to have this warped idea that France and Germany are the only other countries in the EU and that Brussels is the name of a building.

ronnie pickering?

The idea of deliberately targeting the reduction of a country's tax revenue is utterly depressing. What more do you cut from the state when you have even less to spend?

Greater levels of tax avoidance will obviously have been a motivating factor for many of the wealthy advocates of Brexit. Doubtless more so than most of us will be in a position to fathom. But I wonder whether attitudes among the general population might have started to change in the last year?

The fact that during the recent election Labour stated their intention to raise some taxes, and the Conservatives only half-heartedly tried to pretend that they wouldn't raise taxes (i.e. Fallon's gaffe/lie) to the point it was obvious that they would increase some taxes, might suggest a growing acceptance of the role of taxation in overall quality of life. And Grenfell has clearly highlighted the consequences of under-investment in the state.

That said, clearly wealthy people won't particularly care what the general population thinks, and equally, for the rest of us there's a world of difference between agreeing with the idea of paying more tax and actually being happy to pay up (especially when you are struggling to survive on your current income).

"Brexit 1 year on" (ouch)

https://twitter.com/Raphaelite_Girl/status/878162974191403008

Reminds me a bit of that horrible video of the lad kicking out the concrete panel in the wall

https://www.youtube.com/watch?v=eClsjSM3oLs

Well the free booze tipped if for me.

Been a while since I went to debate, has the format been modernised e.g. red and blue cards for voting, plastic eggs to chuck and gunge tank for the loser?

The economic theories that suggest taxing companies is pointless. You could instead focus on taxing the individuals who profit from the company which might result in the employees getting paid more

fuck yeah, I fucking love trickle down.

http://www.independent.co.uk/news/uk/politics/brexit-racism-immigrant-prejudice-major-factor-leave-vote-win-study-a7801676.html?amp

OK study of 417 people, so it's a reasonably small sample size and no more info provided, but my reaction is "Cpt obvious strikes again" :/

Oh yeah Apple pays f-all tax in Ireland, perhaps ROI is an model to study what happens when there is low corporation tax?

Tim Cook can get into the sea, slagging off the EU for interfering while ROI broke their own tax laws by giving them a sweet deal and then going "but we bring lots of jobs to Cork, poor us".

[never buys Apple stuff again]

It's a bit misleading to characterise that as trickle down. It's just a different route.

Like reducing / removing VAT in favour of increasing IT.

I'm going to go out on a limb and say lowering CT combined with EU membership probably did more for peace in ROI than any secret talks.

Young men tend to be less likely to take up arms when there are jobs and future that doesn't involve emigration.