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New Taxation Concept

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In my quest to simplify the UK taxation system, I have been considering the feasibility of a new tax aimed at those with excess cash and reduced common sense.

In addition to current income tax, I would add a "vanity" tax. This would be aimed at people owning personalised number plates.

For a simple non-standard number plate (XYZ 123) the increase in income tax would be an additional 2%.

Where the owner has made a feeble attempt to spell a word or name (W4NKR) the rate would increase to an extra 5%.

Where the number plate alludes to a particular make or type of vehicle (X5 DMB) then the rate would be an extra 10%.

One of the advantages of my scheme would be that estate agents would almost certainly be included.

Any comments / suggested refinements before I send my idea to George?

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**** off and learn something rather than trying to **** off people who work hard for something. vanity is the produce of hard work and is a benefit their of. its already extortionately high in cost considering their is no work involved other than changing a few numbers on a computer.

you want to simplify tax? remove it.

what next you gona try taxing me for my bitcoin vanity wallet address? good luck with that

from a guy thats gona buy a vanity plate.

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You have to pay for every number plate "personalised" or not.

DVLA sold plates are already subject to VAT so generate tax for the exchequer as well as revenue from the sale of the plate.

I like my plate so you can f&ck right off.

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How about scrapping income tax whilst replacing it with a land value tax?

Scapping income tax is an idea worth considering. The more money people take home, the more likely it is that they will spend in the wider economy. Govt will get the tax that way & enterprise wins. Quite Tory friendly so something for Osborne to ponder. :)

I think Council Tax needs overhauling.

And why of why oh why is it necessary to charge tax on conventional savings accounts - especially for British Citizens? Those savings have been accrued by taxed earnings so why pay tax a second time around?

In addition to current income tax, I would add a "vanity" tax. This would be aimed at people owning personalised number plates.

For a simple non-standard number plate (XYZ 123) the increase in income tax would be an additional 2%.

Where the owner has made a feeble attempt to spell a word or name (W4NKR) the rate would increase to an extra 5%.

Where the number plate alludes to a particular make or type of vehicle (X5 DMB) then the rate would be an extra 10%.

I can't see this being much of a penalty. Those who can afford vanity plates will probably cough up the extra tax demand without too much protest. There's a charge of £80 (?) to change number plates so I guess that's like a one off tax.

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And why of why oh why is it necessary to charge tax on conventional savings accounts - especially for British Citizens? Those savings have been accrued by taxed earnings so why pay tax a second time around?

Maybe you aren't aware, but this was addressed in the Budget this year, only the other month.

http://www.bbc.co.uk/news/uk-politics-31929772

"In his final set-piece pitch to voters before May's election, Mr Osborne announced that if the Conservatives win power the first £1,000 of savings interest would be tax free - meaning 95% of savers would pay no tax."

To get £1,000 in interest payments, at today's interest rates you need a huge amount of money, so I'm well within that 95%!

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Maybe you aren't aware, but this was addressed in the Budget this year, only the other month.

http://www.bbc.co.uk/news/uk-politics-31929772

"In his final set-piece pitch to voters before May's election, Mr Osborne announced that if the Conservatives win power the first £1,000 of savings interest would be tax free - meaning 95% of savers would pay no tax."

To get £1,000 in interest payments, at today's interest rates you need a huge amount of money, so I'm well within that 95%!

Ah right, thanks! :)

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In my quest to simplify the UK taxation system, I have been considering the feasibility of a new tax aimed at those with excess cash and reduced common sense.

In addition to current income tax, I would add a "vanity" tax. This would be aimed at people owning personalised number plates.

For a simple non-standard number plate (XYZ 123) the increase in income tax would be an additional 2%.

Where the owner has made a feeble attempt to spell a word or name (W4NKR) the rate would increase to an extra 5%.

Where the number plate alludes to a particular make or type of vehicle (X5 DMB) then the rate would be an extra 10%.

One of the advantages of my scheme would be that estate agents would almost certainly be included.

Any comments / suggested refinements before I send my idea to George?

What if you have two personal plates? (which I do). Do you get a discount or extra penalty for the second?

I buy 5 character plates for my imported cars so I can use the 2002 14A import exemption for a motorbike type size/font and a minimal (legal) plate size.

Both my cars have unusually large cooling requirements and putting things in front of rads is not sensible. There isn't much frontal bodywork to put a full size plate on without looking silly.

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