So the rich get richer ….and fuel inflation!

Germanshepherdsmum

As do many. The argument that ‘most’ goes back to the government is flawed.

'Most' doesn't spell 'must', GSM. I have always said 'most.

Of course any money spent abroad is 'lost to the UK economy. But then, when foreigners spend in the UK it kind of balances it out.

Dinahmo

Germanshepherdsmum

Yes, aware of that.

Aimed at Norah, not you GSM

Thank you for that information.

We arrive through customs many times a year. We declare all bread flour, olives, oil, wines, prosecco, beer, etc. All good.

Cars have differing schemes. Not in the EU may have changed buy and drive schemes - I don't know, we've cars to see us out.

Germanshepherdsmum

Yes, aware of that.

Aimed at Norah, not you GSM

MaizieD

Norah

growstuff

The companies people invest in pay tax.

However, unless I'm mistaken, the investment isn't necessarily subject to tax until dividends are paid or capital gains tax on sale. Not all our investments pay out on a short term basis.

Investments are just savings under a different name. They won't be taxed until you realise them, then, either, as you said, capital gains tax and/or spending the money left after the deduction of CGT into the economy.

Then the money, which mostly originated from the govt. (unless it's foreign earnings) is returning to the govt.

Dividends are taxable in the UK subject to the annual exemption of course and in certain circumstances should be declared. Obviously this does not apply to ISAs.

Some people choose not to take the cash from their dividends but to automatically reinvest the dividend in the company paying those dividends. However, just because you take the cash does not mean that you do not need to declare those dividends.

Yes, aware of that.

Norah

Germanshepherdsmum

Clever use of CGT annual exemptions may mean none is paid on realisation. Tax-free products such as ISAs can also be used to avoid payment of income tax. And of course one may spend a heap of money abroad as I have done when buying German cars direct from the manufacturer - those DEMs didn’t reach our government.

Indeed.

My husband also bought a factory car in Europe, I sadly didn't. We holiday out of the country, buy goods out of the country on travels. No taxes here.

I'm attaching an HMRC document concerning the importing of goods for personal use which you may find interesting

www.gov.uk/bringing-goods-into-uk-personal-use/arriving-in-Great-Britain

I remember in the olden days my DH and I only brought back wine - no spirits, tobacco or perfume but several cases of wine. We would drive off the ferry, go to the red lane, declare what we had brought back and they waved us through. Far more quickly that the people queuing in the green lane.

Grantanow

Does Hunt's calling in the regulators imply that the Tories may consider a prices policy analogous to that introduced by Wilson in 1965 when he created an overseeing Board chaired by the former Tory MP Aubrey Jones? Of course that included an incomes policy too. The Tories seem keen to hold down public sector incomes while letting private sector incomes rise, the latter thereby contributing to inflation.

No.

Growstuff Do you keep any money you have in used banknotes under your bed?

No, that hasn't been our way to save.

As I said "Nothing, apart from ISA, we hold as long term investment involved a stock broker, nor are there yearly profits."

Norah

growstuff

Norah

MaizieD

Norah

growstuff

The companies people invest in pay tax.

However, unless I'm mistaken, the investment isn't necessarily subject to tax until dividends are paid or capital gains tax on sale. Not all our investments pay out on a short term basis.

Investments are just savings under a different name. They won't be taxed until you realise them, then, either, as you said, capital gains tax and/or spending the money left after the deduction of CGT into the economy.

Then the money, which mostly originated from the govt. (unless it's foreign earnings) is returning to the govt.

You're leaving out the obvious option of never realising gains. Rational to me, many people invest quite long term -heirs may see gains.

No, she's not. You're avoiding the fact that it's not only investors who make money from investments. If that were the case, nobody would be a financial advisor or a stockbroker. They all make money, which they spend and pay taxes, as do the people they buy goods from. Not only that, but the companies where the money is invested hopefully make profits and pay tax on those profits, as do their employees etc etc.

You may be correct for you, however you're incorrect for us. Nothing, apart from ISA, we hold as long term investment involved a stock broker, nor are there yearly profits.

Do you keep any money you have in used banknotes under your bed?

Does Hunt's calling in the regulators imply that the Tories may consider a prices policy analogous to that introduced by Wilson in 1965 when he created an overseeing Board chaired by the former Tory MP Aubrey Jones? Of course that included an incomes policy too. The Tories seem keen to hold down public sector incomes while letting private sector incomes rise, the latter thereby contributing to inflation.

As do many. The argument that ‘most’ goes back to the government is flawed.

Germanshepherdsmum

Clever use of CGT annual exemptions may mean none is paid on realisation. Tax-free products such as ISAs can also be used to avoid payment of income tax. And of course one may spend a heap of money abroad as I have done when buying German cars direct from the manufacturer - those DEMs didn’t reach our government.

Indeed.

My husband also bought a factory car in Europe, I sadly didn't. We holiday out of the country, buy goods out of the country on travels. No taxes here.

growstuff

Norah

MaizieD

Norah

growstuff

The companies people invest in pay tax.

However, unless I'm mistaken, the investment isn't necessarily subject to tax until dividends are paid or capital gains tax on sale. Not all our investments pay out on a short term basis.

Investments are just savings under a different name. They won't be taxed until you realise them, then, either, as you said, capital gains tax and/or spending the money left after the deduction of CGT into the economy.

Then the money, which mostly originated from the govt. (unless it's foreign earnings) is returning to the govt.

You're leaving out the obvious option of never realising gains. Rational to me, many people invest quite long term -heirs may see gains.

No, she's not. You're avoiding the fact that it's not only investors who make money from investments. If that were the case, nobody would be a financial advisor or a stockbroker. They all make money, which they spend and pay taxes, as do the people they buy goods from. Not only that, but the companies where the money is invested hopefully make profits and pay tax on those profits, as do their employees etc etc.

You may be correct for you, however you're incorrect for us. Nothing, apart from ISA, we hold as long term investment involved a stock broker, nor are there yearly profits.

Norah

MaizieD

Norah

growstuff

The companies people invest in pay tax.

However, unless I'm mistaken, the investment isn't necessarily subject to tax until dividends are paid or capital gains tax on sale. Not all our investments pay out on a short term basis.

Investments are just savings under a different name. They won't be taxed until you realise them, then, either, as you said, capital gains tax and/or spending the money left after the deduction of CGT into the economy.

Then the money, which mostly originated from the govt. (unless it's foreign earnings) is returning to the govt.

You're leaving out the obvious option of never realising gains. Rational to me, many people invest quite long term -heirs may see gains.

No, she's not. You're avoiding the fact that it's not only investors who make money from investments. If that were the case, nobody would be a financial advisor or a stockbroker. They all make money, which they spend and pay taxes, as do the people they buy goods from. Not only that, but the companies where the money is invested hopefully make profits and pay tax on those profits, as do their employees etc etc.

Clever use of CGT annual exemptions may mean none is paid on realisation. Tax-free products such as ISAs can also be used to avoid payment of income tax. And of course one may spend a heap of money abroad as I have done when buying German cars direct from the manufacturer - those DEMs didn’t reach our government.

Germanshepherdsmum

Understand that the value of your argument diminishes in line with the time it takes for money to get back to where it started.

But it isn't diminished! Oh well!

MaizieD

Norah

growstuff

The companies people invest in pay tax.

However, unless I'm mistaken, the investment isn't necessarily subject to tax until dividends are paid or capital gains tax on sale. Not all our investments pay out on a short term basis.

Investments are just savings under a different name. They won't be taxed until you realise them, then, either, as you said, capital gains tax and/or spending the money left after the deduction of CGT into the economy.

Then the money, which mostly originated from the govt. (unless it's foreign earnings) is returning to the govt.

You're leaving out the obvious option of never realising gains. Rational to me, many people invest quite long term -heirs may see gains.

MaizieD

Germanshepherdsmum

Well if you can’t work out how the strength of your argument diminishes I frankly give up.

I don't think you have a coherent argument to make. If you did you would have made it clear.

I don't understand the argument either. It just doesn't make sense.

Not only that, but if the money is invested in British companies, they will pay tax on profits and their employees will pay income tax and buy goods which incur taxes.

Germanshepherdsmum

Well if you can’t work out how the strength of your argument diminishes I frankly give up.

I don't think you have a coherent argument to make. If you did you would have made it clear.

Norah

growstuff

The companies people invest in pay tax.

However, unless I'm mistaken, the investment isn't necessarily subject to tax until dividends are paid or capital gains tax on sale. Not all our investments pay out on a short term basis.

Investments are just savings under a different name. They won't be taxed until you realise them, then, either, as you said, capital gains tax and/or spending the money left after the deduction of CGT into the economy.

Then the money, which mostly originated from the govt. (unless it's foreign earnings) is returning to the govt.

Well if you can’t work out how the strength of your argument diminishes I frankly give up.

Germanshepherdsmum

Understand that the value of your argument diminishes in line with the time it takes for money to get back to where it started.

Which is why I am asking you to explain why you think it diminishes.

I'm not a mind reader

growstuff

The companies people invest in pay tax.

However, unless I'm mistaken, the investment isn't necessarily subject to tax until dividends are paid or capital gains tax on sale. Not all our investments pay out on a short term basis.

Understand that the value of your argument diminishes in line with the time it takes for money to get back to where it started.