09.12.2020

Emotions about wealth tax are running high…

“I can agree with a wealth tax on everything except primary residence and pension pots. That’s pushing the boat out too far. Just because I bought a house in Richmond a very long time ago I now need to pay £200k?! I am not doing it. Write that down HMRC. “

Its Enron like tax accounting ! So if your Net Wealth goes up.. you pay tax now.. if it decreases do you get a refund? Didn’t think so..

I work hard during pandemic and pay tax. I am not a burden of the government. Now they want to punish me for doing well

“This effectively ends civil society. No more middle class. No one would ever trust a government of any colour again to not come and plunder their hard-earned cash. It takes Britain over the cliff into communism.”

These are reader comments about the FT article on the introduction of a one-off wealth tax.

Tax always generates high emotions. It is why so often people look for so many ways to reduce or mitigate it, yet sometimes the motivation is misdirected. With better thinking, solutions can be much more palatable. How many sports personalities, celebrities have you read about trying to reduce tax, sometimes overzealously. Why? For some people, tax feels like stealing. It’s why emotions are running high. This is when bad decisions are made. It is always better to talk through your thoughts and ideas. We are here to listen.

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