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Tax Transparency Campaign

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Can we put pressure on politicians with a grassroots campaign for tax transparency? People who publish their own tax information can call for more transparency without hypocrisy.

Thinking about it, I'm not quite sure how best to do it. A full tax return would reveal identifying details with HMRC, which is probably identity-theft and general-fraud gold. Any suggestions?

To kick off, here's my last completed year, anonymised (if HPC attachment works for me).

tax2015.png

tax2015.png

post-15944-0-20448700-1460327169_thumb.png

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Tax simplification is probably the answer.

More of people's personal business in the public domain is not the greatest idea. Those with the money will always find a way to obfuscate.

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Tax simplification is probably the answer.

Agreed.

But ordinary people don't have that option. I'm suggesting we do what we can.

Since transparency is the enemy of complexity, it should also help nudge TPTB towards less complexity. Though that may be more Sir Humphrey's jealously guarded province than the politicians.

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People who publish their own tax information can call for more transparency without hypocrisy.

This may not work for many companies where individuals don't tend to share own income details as contract terms and salaries vary a lot.

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Tax simplification is probably the answer.

More of people's personal business in the public domain is not the greatest idea. Those with the money will always find a way to obfuscate.

As far as tax and pensions go any simplification tends to be in the name only. Normally results in transitional or equalisation arrangements way more complex than before.

But that's what legal, tax and other financial professionals get paid for!

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I don't think a tax return tells the whole story.....people are not in the public view for their entire lives so will only see a small window of transparency...... It is not what they tell you, show you or promise you....it is what they do and how they do it.;)

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We have issues with pay equality in the workforce and recent CEO's who have no idea what their total renumeration package is because it is typically hidden in a number of perks. I am all for tax transparency. It won't stop everything as there is probably a minority that have undeclared incomes or offshore holdings. But those things ARE illegal and we can stop having arguments about what is the moral responsibility vs what is legal.

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Radio going on about allMPs publishing tax returns.

Gidiots considering in it. I'd guess he's calculated that he's OK and that a number of Labour MPs affairs might blow up in their faces. You note that , apart from Corbyn, there's not a huge clamour from the Labour benches.

The nexus between Labour MPs and unions is murky.

Then there's property.

Should be fun.

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The world is changing fast. I think the reason they want everything out in the open now is because they are on the cusp of losing control, as everybody will soon be able to hide their savings anonymously through decentralised systems.

Once this starts happening it is the end for big government that has only been able to flourish due to fiat funny money.

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I've been investigating a long standing local councillor recently - in particular, digging into his company XXX Investments that he listed on his register of interests. Turns out the fecker is loaded to the gunwhales with leveraged BTLs in Swansea - and some really grotty places judging by Streetview and Zoopla (as legal charges are held at Companies House, all the mortgage details and addresses are on record).

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Take a look at how Sweden manages it and any lessons learned - their tax affairs are in the public domain believe.

Yes they are and have been for ages, centuries even. Trouble is the British are a secretive (but nosey) bunch and with the keeping up with the jones attitude that has been around for decades I suspect a lot of people are more concerned about people (or financial institutions) finding out just how little they really earn.

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Norway's are public record for everybody, if you know someones name you can access all of their tax returns (don't think Swedens are).

So Dave and his Missis have one property rented out for 100k per year ... they also have some other houses. He earns 150k as PM and pay the taxes on his earned income. And for many people in UK you can find similar info as companies publish director salary details as do many public bodies. What they will never publish is their balance sheet of assets and in particular unearned income. For the rich earned income is the petty cash - pocket money - loose change, unearned and untaxed income is where the real story (and wealth) is.

+1

Indeed. Most of the details they've published so far are either public knowledge or easily guessed as a minimum position. Job income, rent income, bank interest income and dividend income. As they don't publish the actual official Tax Return Forms people are really no further forward in terms of information.

Whether tax transparency is good or not the information they've published doesn't set an example to justify it.

Edited by billybong

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No wonder Farages mates who own 80% of the UK media want out of the EU

http://www.bbc.com/news/business-36013088

Wouldn't want their " readers" to find out where they pay their taxes would they?

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So should we know how much tax credits people get as well?

That will be the next step, then our medical history will go on line as well. It is a slippery slope which no one knows where it will end.

Personally I would have a list of who gets what benefits on line to stop fraud, so if you see Joe lift 120kg in the gym he cannot claim for being disabled.

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So should we know how much tax credits people get as well?

A better idea:

How much a household has contributed via direct taxes.

How much has household has drawn down.

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I bet Tony Blair had a shed load of offshore interests while in power.

Why in his era would he need anything other than a property portfolio?

If he had a more balanced portfolio, maybe there'd've been less emphasis on HPI. Just possibly.

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Can we put pressure on politicians with a grassroots campaign for tax transparency? People who publish their own tax information can call for more transparency without hypocrisy.

Thinking about it, I'm not quite sure how best to do it. A full tax return would reveal identifying details with HMRC, which is probably identity-theft and general-fraud gold. Any suggestions?

To kick off, here's my last completed year, anonymised (if HPC attachment works for me).

I'm in the where will it all stop camp. E.g. should you be able to try and influence others and or housing policy while hiding behind an anonymous HPC account.

Also on a personal note, given your use of what in some peoples minds would constitute aggressive tax avoidance/evasion (VCT, EIS) there is always a possibility that you will find the torch carrying mob marching up to your doorstep.

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I'm in the where will it all stop camp. E.g. should you be able to try and influence others and or housing policy while hiding behind an anonymous HPC account.

Also on a personal note, given your use of what in some peoples minds would constitute aggressive tax avoidance/evasion (VCT, EIS) there is always a possibility that you will find the torch carrying mob marching up to your doorstep.

I have just reread this and it sounds a bit aggressive. It wasn't meant to be a personal attack - rather just my thoughts about how this could all run out of control ending up with perfectly acceptable behaviour being demonised by halfwits such as Jess Phillips (see Monday's interview on the daily politics).

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I have just reread this and it sounds a bit aggressive. It wasn't meant to be a personal attack - rather just my thoughts about how this could all run out of control ending up with perfectly acceptable behaviour being demonised by halfwits such as Jess Phillips (see Monday's interview on the daily politics).

Well we've demonised the disabled and the unemployed- so why not people using offshore accounts to avoid tax?

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Well we've demonised the disabled and the unemployed- so why not people using offshore accounts to avoid tax?

We have only demonised the the people who pretend to be disabled and are really not and the unemployed who make it a lifestyle choice. I think very few people have any problem with supporting the genuine cases.

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