Mark McKenna

986 posts

Mark McKenna banner
Mark McKenna

Mark McKenna

@markmc_82

Father of two. Tax. Trying to remain sane whilst we all inexorably slide Slowly Downward

Liverpool, England เข้าร่วม Ekim 2014
209 กำลังติดตาม32 ผู้ติดตาม
Mark McKenna
Mark McKenna@markmc_82·
@Sallyjo799 @RoperCarl From his original objection: "Am I and the people Liverpool 18 being snobbish with our objection? If people want to eat junk food and not see what their children are eating that is up to them but, Allerton Road is not the right place." - Richard NIMBY Kemp
English
1
0
0
40
Sally johnson
Sally johnson@Sallyjo799·
@RoperCarl I mean I don't see where he stated he wanted KFCs anywhere else.
English
1
0
1
443
Mark McKenna
Mark McKenna@markmc_82·
@atjames88 @FraserNelson Linked. NMW rises reduce/remove the pot for other (above NMW) staff to get a rise. So the floor comes up, but the ceiling stays where it is leading to wage compression.
English
1
0
0
19
Adam James
Adam James@atjames88·
@FraserNelson A big issue here is wage stagnation, other countries have seen median salary increase dramatically since 2008 we haven't, their proportion of the median salary has steadily risen allowing minimum wage to stay relatively level. We need to increase as it would push people into pov.
English
2
0
0
539
Steve Loftus
Steve Loftus@LoftusSteve·
Just to be clear. The VAT threshold was created to remove the administrative burden from small businesses. In real terms the original '73 threshold was about £55k. That burden barely exists now. There's dozens of easy to use solutions that do it all for you.
Steve Loftus@LoftusSteve

Holy fuck, Is there anything this woman does that isn't the direct opposite of what she should be doing? If you want to boost growth then you lower that VAT threshold and remove the cliff edge altogether (and raise more tax that you need).

English
21
10
98
11.7K
Mark McKenna
Mark McKenna@markmc_82·
@aNorthernGarden @LoftusSteve A tradesman would surely be supply and fit to exceed £90k threshold. Unless you're paying £400-500 a day... So they have VAT on materials (which they can't reclaim). Registering allows them to recover that
English
1
0
0
47
Mark McKenna
Mark McKenna@markmc_82·
@abcdlights @LoftusSteve Absolutely spot on this. The threshold currently allows one man bands to have a good living. Those looking to grow and employ people get hit by VAT making them look expensive. Dropping the threshold would be a brilliant move
English
0
0
0
23
Eggman
Eggman@abcdlights·
@LoftusSteve I am directly pricing against those who are not registered, either legitimately or by a bit of fiddling. The benefits of being VAT probably do not pay more than the lost work to those that are not. It's a tough middle ground and hinders expansion.
English
1
0
1
19
Mark McKenna
Mark McKenna@markmc_82·
@aNorthernGarden @LoftusSteve The builder in this example would be able to recover the VAT incurred by them. It wouldn't be necessary to add 20% to the total bill. A lot could be absorbed by them. Most people are concerned by the traders who *aren't* registered. Not by having to charge VAT itself
English
1
0
0
50
Northern Gardener🌱🇬🇧🏴󠁧󠁢󠁥󠁮󠁧󠁿
@LoftusSteve How does it benefit everyone? If a tradesman currently under the vat threshold has to bill me an extra 20%, how does that benefit me? It just allows the government to spaff more money on pointless carbon capture, pointless overseas climate aid and housing illegal migrants.
English
1
0
4
108
Kirstie Allsopp
Kirstie Allsopp@KirstieMAllsopp·
@thatsnotmine125 Start with wastage, have you even noticed how much stuff is left lying around after a road works for example. We have become a nation of people that do not look after things, we don’t maintain things.
English
51
3
338
38.6K
Kirstie Allsopp
Kirstie Allsopp@KirstieMAllsopp·
When will Rachel Reeves start talking about saving money not just finding more & more ways of taking money away from people who themselves have bothered to save and work hard?
English
1.2K
1.5K
17.1K
1.1M
Mark McKenna
Mark McKenna@markmc_82·
@rcolvile Another area where we need a hard reset. Remove green belt protections (within 10 mile of a major city), s106, affordable housing, the lot of it. Developers pay x% of the sales value to the LA. Anything not completed within 5yrs, they pay 2-3x. Let's build
English
0
0
1
59
Mark McKenna
Mark McKenna@markmc_82·
@johnmcdonnellMP Things change John. Perhaps governing was never for you. With this logic, you would have stopped reservoirs, military training sites and countless other developments that are now essential infrastructure.
English
0
0
3
25
John McDonnell
John McDonnell@johnmcdonnellMP·
Just to give you some idea of the impact of Heathrow’s plans for a 3rd runway, this is Harmondsworth village, one of the 4 Heathrow villages that will be wiped off the face of the earth by Heathrow.15,000 people will lose their homes & community to profit a foreign owned company.
English
985
3.1K
11.5K
1.8M
Mark McKenna
Mark McKenna@markmc_82·
@pete_ar_fryn @MerryAlbright It is likely to be much more of an issue for high asset/low return businesses. Also has a compounding effect for deaths within 5-10yrs (beyond QSR). Death one was still being paid for, then new owner dies and it's a fresh IHT charge. It's badly thought out imho.
English
0
0
1
25
Merry Albright
Merry Albright@MerryAlbright·
Would Govt. prefer us to sell the workshop, yard, offices, stock or staff room to pay the ludicrous BPR IHT if my mum dies? 45 years of unimaginable graft, risk, sacrifice (& paying taxes) - but then shafted simply because we run a good family business & provide good stable jobs.
Merry Albright tweet mediaMerry Albright tweet mediaMerry Albright tweet mediaMerry Albright tweet media
English
75
242
1.1K
72.6K
Mark McKenna
Mark McKenna@markmc_82·
@pete_ar_fryn @MerryAlbright Absolutely no effort to value. Purely illustrative, just like your own. Do remember that extracting any real amount cash from a business typically brings dividend taxes circa 40%. Then from that net sum, the payment is made. Also the retained earnings could be working cap.
English
0
0
0
24
Mark McKenna
Mark McKenna@markmc_82·
@Chris472600 @McNolf @BazaritoDorito @faisalislam "But secure your future entitlement." Nope. Absolutely wrong. Govt doesn't work people (except public sector). Stop Govt waste. But keep paying £12k a year to people who don't need it. Amazing...
English
1
0
0
17
Chris
Chris@Chris472600·
@markmc_82 @McNolf @BazaritoDorito @faisalislam They fund the current pensions, but secure your future entitlement to one. 50k is not a high salary to cut people off from state pension. it is fundamentally wrong to be worked to the bone and expect to receive less in return. Stop government waste and benefit fraud.
English
1
0
0
19
Faisal Islam
Faisal Islam@faisalislam·
NEW OBR fiscal risks report: - Triple lock is costing treble what it was initially assumed to cost when introduced in 2012… - £15.5bn a year rather than £5bn a year and is - State Pension on course to cost 7.5% of the UK’s entire GDP within 50 years, was 2% in 50s, now 5%
English
522
348
2K
652.5K
Mark McKenna
Mark McKenna@markmc_82·
@EdConwaySky @OBR_UK Have they ever been right about anything? Didn't the OBR sign off on every one of those debt projections at the time? Didn't the also agree with the initial estimated cost for triple lock? It's rule by spreadsheet... and the OBR isn't very good at them
English
0
0
1
56
Ed Conway
Ed Conway@EdConwaySky·
🤓Possibly my favourite ever @OBR_UK chart👇 The green line is what the Government tells us is going to happen to the national debt at each Budget (up a bit then down). The yellow line is what actually happens (up, up, up)
Ed Conway tweet media
English
81
420
1.3K
95.1K
Mark McKenna
Mark McKenna@markmc_82·
@llinos_medi How about an extra 2% tax on second jobs of MPs. Or abolishing subsidised lunches at Westminster? There are plenty of fairer ways to raise money. Just not from you hey?
English
0
0
0
5
Llinos Medi AS/MP
Llinos Medi AS/MP@llinos_medi·
Labour’s decision to cut disability benefits and raise National Insurance isn’t something they were forced to do. It’s a choice. A 2% tax on assets over £10 million could raise £24 billion a year. There are plenty of fairer ways to raise money. nation.cymru/news/plaid-cym…
English
537
585
1.5K
69.5K
Mark McKenna
Mark McKenna@markmc_82·
@PeterMcCormack @MarinaPurkiss Who values it? On what basis? At what cost to police by HMRC? It's a mess of a policy. Mass of UK taxpayers haven't woken up. A little more, from everyone. The "someone else will pay" is getting a tad old
English
0
0
3
490
Peter McCormack 🏴‍☠️🇬🇧🇮🇪
Obviously I’m going to respond to this, because I have questions and I’m interested in your answers. If someone’s wealth is tied up in a business or property, and not in liquid cash, how exactly are they meant to pay a 2% wealth tax? Sell off pieces of annually? Do you expect them to sell assets every year, triggering capital gains tax on top of the wealth tax? What if selling the asset destroys the underlying value, like a founder diluting their company, or a landlord forced to sell in a down market? What if the wealth is generating no income at all that year? Should they borrow against it? At rising interest rates? So they’re now in debt to pay the state for owning something?
English
98
54
1.6K
50.5K
Marina Purkiss
Marina Purkiss@MarinaPurkiss·
If you can’t afford a 2% wealth tax on assets over £10 million… Might I suggest you live within your means?
English
1.4K
1.2K
9.2K
1M
Mark McKenna
Mark McKenna@markmc_82·
@mansfieldrv6 @supertanskiii Would you like someone to buy you a car? Would you support taxes being paid by someone who isn't you? An overwhelming majority presents itself!
English
1
0
2
79
Nick Smith
Nick Smith@mansfieldrv6·
Of course 75% support it! It doesn’t cost them a penny. You could ask the same people if billionaires should be forced to fund free puppies and still get a majority. Polls like this reveal sentiment, not sound policy. It's easy to back taxes you’ll never pay, harder to see the long-term damage to growth, investment, and innovation.
English
2
0
25
1.4K
Supertanskiii
Supertanskiii@supertanskiii·
It’s simple, Labour. Tax the wealthy. Rejoin the single market. Fix the economy. Invest in public services. Make people feel the change. Improve living standards. This is how you beat the ReFuckers. This is how you avoid a one term government. This is how you fix Britain.
Lewis Goodall@lewis_goodall

New @YouGov polling shows 75% are in favour of a 2% tax on wealth above £10 million.

English
255
587
2.7K
149.1K
Mark McKenna
Mark McKenna@markmc_82·
@Chris472600 @McNolf @BazaritoDorito @faisalislam You pay in to pay out current pensioners. There is no pot of money. Means test it. Anyone over £50k income no go. Assume 5% ROI on assets to prevent hoarding (asset rich cash poor guv...) Oh and move the retirement age to 73.
English
1
0
0
20
Chris
Chris@Chris472600·
@McNolf @BazaritoDorito @faisalislam 'Wealthiest to 10%' 90% of the population are not 'wealthy'. If you pay tax into a system, to cover your state pension you should recieve it. You cant continually asked people to pay the same or more for less in return. The solution cant always be strip the workers
English
1
0
1
55