Michael Sherry

@ElonMuskPAOcXX 55

@ElonMusk_LordX 8960

@elonmuskelry HOPE

@SingularityP @DanNeidle Paul Please list your sources, thanks

£150bn = 10p on income tax. I prefer growth.

@ElonMuskNews47 A

@PostOffice I checked first and your post said the system was back up. I then went into W H Smith, Macclesfield, which was open, and spoke to the lady at the back of the store at the Post Office counters- she checked her screen, confirmed that the system was still. That was 50 mins later

@MichaelSherryMA Hi Michael, the issue that was affecting branches has been resolved. If a branch remains closed this is unrelated. What time did you visit? - Tom

Thanks for your patience while we resolved the issue affecting Post Office branches this afternoon. Services are now back to normal.

@DanNeidle @CutMyTaxUK @hselftax @The_Landlord @edwardtroup Indeed, but it doesn’t have CGT more than it kinda does!

@CutMyTaxUK @hselftax @MichaelSherryMA @The_Landlord @edwardtroup Generally by having extensive and complex rules that deem many types of capital gain to be income. New Zealand on the face of it has no CGT; but the reality is that it kinda does.

Why isn't capital gains tax (CGT) adjusted for inflation? Serious question. Is there a legit reason other than Government greed?

@DanNeidle @hselftax @The_Landlord @edwardtroup Our ten year charge on discretionary trusts works out at 0.6% per annum maximum. It is a wealth tax and is now 50 years old, though originally it was more progressive. Failed?

@MichaelSherryMA @hselftax @The_Landlord @edwardtroup Wealth taxes have historically failed almost every time they’ve been tried. But even the most optimistic take won’t see them raising the £170bn that VAT brings in.

@DanNeidle @hselftax @The_Landlord @edwardtroup The Swiss levy wealth taxes which are widely based and effective. As a replacement for our optional inheritance tax and mad CGT worth serious consideration. The canton of Geneva e.g. does seem to have a few things right?

@hselftax @DanNeidle @The_Landlord @edwardtroup It’s a bad tax anyway - better to abolish it and have a broadly based wealth tax at a low rate levied annually.

@DanNeidle @The_Landlord Also I saw @edwardtroup put his head in his hands at the thought of the complexity this would cause, when it was suggested at a conference last year. I think it depends whether inflation gets back to 2% - if it stays at 4 or 5%, the need for an adjustment is more obvious.

@Helen_Barnard Or we could abolish the awful capricious CGT and IHT and replace them with a simple wide base low threshold annual wealth tax?

The thing no one’s saying about the Angela Rayner story: why shouldn’t we all just pay capital gains tax on any property? I get that it’s politically toxic to suggest, but it makes no sense to exempt wealth gains arising the luck of benefiting from a housing market boom.

@JudithFreedman Indeed, but not a matter for us tax technicians- more of a socio- economic/political question. Resolution have a political inclination as do most such organisation of various persuasions and savings rates have macro economic consequences even if there is no link to investment …

@MichaelSherryMA Resolution Foundation data suggests it does not do much to increase investment.

Many of us use ISAs, myself included, but it is inevitable that that it gives more to those who have more, given the design.

🧵Apotemnophilia In the 90s, Dr. Robert Smith, a surgeon at Falkirk Royal Infirmary, performed leg amputations on two men. Both men were perfectly healthy but suffering from apotemnophilia, a psychiatric condition involving the desire to have healthy limbs amputated./1

@TomWitherow @thetimes is this because they knew all along, or because they should have realised right at the beginning or early on.; whatever the reason they should contribute, perhaps bearing most of the cost - taken them a while to realise the rrror of their ways?

Break: The chief executive of Fujitsu has apologised to postmasters and said the firm has a moral obligation to contribute to the £1billion compensation bill. Follow live on @thetimes live blog on #PostOfficeScandal and in 🧵👇 thetimes.co.uk/article/post-o…

@JudithFreedman I think Sweden abolished its estate duty/inheritance tax because the vast majority of people find it viscerally unpleasant/offensive/unfair so the statistics will never really be relevant. But a wealth tax to replace it and CGT, that’s adifferent. The Swiss work wealth taxes …

We could suggest they rename inheritance tax as capital transfer tax. How about that, #taxtwitter?

@JudithFreedman Not sure which bit of the LPA 1925 bears on the interpretation of private member club rules? I would be deleting gated if this change of heart is correct and did not agree with the original Op but which bit of the LPA had tipped MBKC over?

How would a KC not know this? Don’t all lawyers know this? Bizarre. FT on Garrick membership.

@JudithFreedman Happy birthday!

Finding it hard to believe I am 70 today! Winston Churchill was PM when I was born…. Although went for a lovely long walk with family yesterday and my back is now telling me that I have indeed reached this ripe old age…