Accountant Exposes: How Labour Will Increase Taxes

In this video I cover 4 changes that could happen to the UK tax system if Labour win the next general election.
TIMESTAMPS:
00:00 - Intro
00:41 - VAT on school fees
03:03 - Capital Gains Tax
04:45 - Wealth tax
06:48 - Inheritance tax
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DISCLAIMER:
This content, and the ideas presented in it, are for education and entertainment purposes only. Kiran does not provide tax or investment advice. The information presented does not consider the financial circumstances of any investor, and therefore may not be suitable for all investors.
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[@user-zw3bg9vr5g]

We are taxed from the cradle to the grave. I call this daylight robbery.

[@Damien_JH]

Modern day slavery

[@patarciepaul]

You use services so they have to be paid for. If you don't believe in paying taxes you are expecting something for nothing and are the definition of a scounger.

[@phYT01]

@@patarciepaul Gratuitous insult. Why should anyone be forced to pay for services they don't want to use or will only be used by others who have never paid into the UK tax and benefits system?

[@patarciepaul]

@@phYT01 It's your choice not to use the services. Just because your income is so high you can afford to go private doesn't mean you should be tax exempt. If anything I would question why you had so much money in the first place when there are millions who work their fingers to the bone and still struggle to make ends meet.

[@phYT01]

@@patarciepaul This is a tax information channel. It's not the place for indoctrinated Marxist wealth redistribution enforcers and instinctive parasites with the mentality of looters in a riot trying to get away with stealing wealth created by others and which they do not deserve.

[@paulberesford9360]

Having been a working man all my life and never having claimed benefits for any reason whatsoever, I've saved hard and invested for many, many years in a good pension scheme and latterly in some property and, it would appear that the Labour party, who I've supported all my life, are now about to financially hammer me in order to provide for those who don't wish to work or plan for their future. Never again will I vote labour.

[@Dunk1970]

Also, taxes on salaried individuals have fallen for most people. Those on average incomes or less are being taxed at a 50 year low at the moment. The extra tax take has come from higher rate earners and other areas of the taxable economy, such as Corporation Tax take. The opposition parties keep talking about "Tax Burden", without explaining that this is all tax generated against GDP, not just salaried income taxes. The Conservatives have managed to raise more tax without hitting those on lower and middle incomes. To quote the IFS: "Someone on £35,000 today - about the average for those working full-time - faces an income tax and national insurance bill getting on for £2,000 lower than would someone on the same real earnings back in 2010."

[@ghulamnabi0]

Can I ask which pension schemes you have invested into please

[@oskartheme5233]

"...the Labour party, who I've supported all my life," Well then, no sympathy for you.

[@DS-cf1zc]

I have worked hard for nearly 40 years, and had moderate success - the last Labour government suffocated me with taxation - to the point where i had anxiety about it, and worked 60 hour weeks to make sure my family were safe. The worst thing I saw was a person in my street on benefits, who, when they combined up their income, rental allowances and free medical stuff etc etc - technically earned more than I was as a high tax payer. That did it for me, and I will never vote or even consider voting Labour again. I dont like the Tories, and actually feel no one represents me currently from any of the parties.

[@DS-cf1zc]

​@@Dunk1970 The first pay rise I have had in years have come from the NI reduction in recent months - I actually feel able to go out for one or two days with my wife, for the first time since the pandemic. My fear is that when the rich move away to avoid tax, and Labour taxation policies to find the money they need they will end up shafting those of us who have passed 52k. I am also wary of them introducing pay per mile, or some other motor related skullduggery that forces us to pay millions more for our cars than we already are - remember the last Labour government used the fuel duty escalator to hammer the normal working person - and will lift the current rate back to where it was pre-pandemic, and then raise it again and claim it is all about climate change - which will affect every single working person, and those from low backgrounds.

[@IeuanBevan.]

Very working people are farmers. They feed us. And no one seems to talk about it, but labour could destroy farming as farms could be forced to sell up. Who buys the land? Wealthy foreners who wont farm it but turn the land into houses. Remember, no farmers no food.

[@SuperJinxter]

You have sympathy for people rich enough to send their kids to private school? 🤣

[@daffydboi]

​@@SuperJinxter awww the green eyed monster

[@dat_boii]

Go watch all 3 seasons of Clarksons farm, might not like the man but it's very educational regarding the state of British farming. Farmers have been in dire straits for over a decade and closing shop at an unprecedented rate. The UK has lost 1 in 5 farms in the last 10 years alone. Are you really going to sit there and pretend that "Labour could destroy farming" when Conservatives created, precided over and did nothing about the crisis faced by farmers?

[@46FreddieMercury91]

Will they dare? The saying is that we're only two meals from anarchy. But I wouldn't put it past labour to try something that stupid

[@greyalien4944]

People: the cost of living is too high Government: **charges people more to live**

[@hughiemg2]

You mean charges some people who are less proportionally impacted by the cost of living increases more..

[@greyalien4944]

@@hughiemg2 This government has overseen the biggest tax rises since WW2. Everyone is affected from council tax to road tax, clean air zones, increasing energy price cap and overpaying to vaccinate millions of people who were young and healthy

[@stevenrussell3729]

When someone's solution to getting charged 20% vat on 12.5k is to pay early to avoid paying tax it goes to show how much disposable income these people have. Most people can't just come up with 12.5k a year earlier than anticipated.

[@user-rw1rq8jz6g]

And yet this country sent millions to France to stop the boats which didn’t work. Is this why we have the lowest pensions in Europe?

[@danuk500]

This country routinely sends billions abroad to countries other than France too. We even hand over money to China

[@robertwoodhouse-bm7kt]

In Portugal the max state pension is £4,000 a year.

[@neilbrandon]

Total disaster and could get much worse if ideology and extremists take control.

[@DS-cf1zc]

They are about to - welcome to socialist controlled UK - we will be lucky if president Starmer allows us to vote again, or we will be allowed to vote but only if he wins...

[@233kosta]

The extremist ideologues have been in charge for well over a decade at this point. The tories & labour's _expression_ of socialism differs somewhat (as is evident in their rhetoric), but the end result is the same - take resources from the working and hand them over to themselves & their buddies. This general eRection is almost entirely inconsequential unless someone who doesn't follow this insane ideology gets in.

[@chobb2061]

Tax Tax Tax Tax Tax, sick of taxes, sick of a broken system, regardless of who is running. Replacing one shite shower government with another.

[@allykhan8594]

Taxes raised was £750 billion. Expenditure was £1.05 Trillion. These taxes are for political benefits has no real impact

[@KhalsaDhiForjj]

They line their own pockets

[@allykhan8594]

@@KhalsaDhiForjj lol. Proof?

[@AtlasofInfo]

​@@allykhan8594 The MP's don't do anything and take nearly 100k home pa. How's that? What about the DEI race hustlers working for the NHS and getting paid more than the PM? Lining their pockets indeed. Their days are numbered.

[@googlesucks925]

​@@allykhan8594Jeremy corbyn going into politics broke, coming our worth 4 million, Tony Blair coming out with 8 houses around the country after being PM. Don't be nieve.

[@maxodidily]

They can't tax you if you don't make a profit.

[@roberthuntley1090]

They can, if your 'profit' is less than cumulative inflation over the time you owned the asset you are actually making a real terms loss; but they will tax you on it anyway.

[@TheLDunn1]

Great business plan….😂

[@evelbsstudio]

More and more businesses have gone undre due to tory policy over the past 14 years..

[@johntbaxter]

They already do on property rentals with s24 and with vat on business revenue.

[@brahimzaidi3849]

Vat is not based on profits but sales value. So your paying taxes even if your at a loss.

[@M896]

Labour will only go after easy targets, Corporation structures which include off shore structures will not be touched

[@sweetvuvuzela4634]

Of course they will not want to upset their donors would they?

[@dat_boii]

That's the sad truth. If the majority of the public knew the extent of corporate and elite tax avoidance, how they're shortchanging the coffers and running our services into the ground, there would be rioting in the streets.

[@rajasmasala]

​@@dat_boiiI thought that's the Queen's big political contribution. A lot of monarchists are incredibly ignorant about the meaning of actions.

[@rajasmasala]

​@@dat_boiii.e. she intervened to prevent reporting on estates and some other measures.

[@andrewcavenagh9016]

Labour will attempt to raises taxes on all accumulated wealth - capital gains, inheritance, and all types of investment income, Just watch the resulting exodus of capital. ...

[@atlasnetwork7855]

Hurray for bitcoin.

[@tarquin161234]

So what? That capital is doing no good here as it's not taxed (since it's all in offshore accounts). They can't take the sources of their wealth out of the UK though (e.g. the businesses and properties) so that is what we must tax.

[@andrewcavenagh9016]

@@tarquin161234 Spoken like a true moron. ..

[@SirHargreeves]

People have very very short memories. 2010 was the infamous ‘There’s no money left’.

[@AphexRebellion]

and now there's x2.5 less money left -- where did it all go 🤔

[@eckie4679]

Fiction - EVERY Chancellor leaves that note. It’s a standing joke FFS

[@olimurray4058]

There are already too many ways to tax people in Britain, if the government wants to grow the economy they need to prioritise supporting businesses. Wars have been fought over excessive taxation. I just hope that there is someone somewhere in the Labour Party that actually does understand how wealth creation works…

[@scottflannigan3062]

PwC and the rest of the crimal accountsmts should be in jail £120 Billion Corporation Tax aviodance and evasion every year, how many hundreads of Billions did companies and the rich gain from the pandemic

[@timrowley4274]

And we wonder why the future generations, Gen Z etc have no incentive to work or achieve anything.

[@MichaelBell-iy8jo]

As the great Thomas Sowell says, if you dream up taxes to raise money, the people you are taxing change behaviour because of them. So you don't get as much as you thought and create other problems. In Detroit they went down the high taxation route, and in 50 years the population of the USA doubled, while the population of Detroit halved. It wouldnt be so bad if they didnt waste most of it!.

[@kubhlaikhan2015]

What strikes me about these proposals is their dishonesty. In the first place, pin prick revisions like this cannot provide the revenues needed to finance the state, rescue our businesses. improve training or restore the spending power of the consumer. They are pretending these actions are directed at the wealthy when in reality problem capitalists will easily evade them. Instead of tackling big corporations, ordinary people will suffer - parents who don't trust state education, businesses that collapse because of death duties, families that are evicted because a parent or spouse dies... Typical Starmer, treating us like fools.

[@tarquin161234]

Well people shouldn't have voted for Labour then. Needless to say, they should definitely not have voted for the Tories. What is needed is a revolution in taxation of the super rich. That is where the nation's wealth is disappearing to. The Green's were the only party that included a wealth tax in their manifesto and even that was pitifully small.

[@Nousmourronsseuls]

Over ten million people now live in this country who were not born here. Hundreds of thousands more coming every year. Most poor and poorly educated. These people need access to housing, to social care, to transport, to medical care, to education. And they get it. They and their forbears have not contributed through work and taxes, they have just arrived and share in this country’s wealth. Someone has to pay for this policy. So why do you think taxes need to go up?

[@phYT01]

This. The elephant in the room.

[@domtomas1178]

“just arrived and share in this country’s wealth” yep sounds about the same as the British did 400 years ago doesn’t it. as they say what goes around comes around. Colonialism sucks 😅

[@Nousmourronsseuls]

What a moronic non-sequitur. The vast majority of immigrants come from countries which were never colonised by the British. Even if they did, what kind of imbecile celebrates an obvious detriment to this country (mass immigration) because of some perceived wrongdoing by this nation 400 years ago? Only someone who does not have this nation’s best interests at heart.

[@phYT01]

@@domtomas1178 Groan. The present situation in the UK bears no similarity whatsoever to the formation of the British Empire.

[@domtomas1178]

@@phYT01 I beg to differ.

[@marcusoutdoors4999]

The UK has the biggest migration problem in the West with more millionaires leaving the UK than any other country.

[@hugheaston7598]

Actually, China has lost 12,000 millionaires so far this year, we're in second place, having "only" lost 9,000. So far this year. Mind you, China has a population 20x larger than ours, so we've shed 15x as many millionaires per capita. It's going to bite us very hard, that's at least £9 billion gone forever from the UK economy (in fact probably much more, since most of them are probably multi millionaires). And we're only halfway through the year.

[@anth5122]

We need a smaller government, during the height of the British empire we had 5,000 civil servants now we have 2.5m

[@EggchaserNZ]

What a simpleton suggestion. During the height of the British Empire as you say? Not sure if you did well in history fella but poor people were forced into work houses, children working in dangerous factory conditions and the abundant wealth only went to the upper class. All by design. As wealth is passed on to the top 1%, are you suggesting a similiar representation ie A smaller govt?

[@anth5122]

@@EggchaserNZ What a simple suggestion exactly 👍

[@MinkieWinkle]

@@EggchaserNZ you like added red tape and wasted money, the man still has a point, the country was better off with less government.

[@martyndawson7484]

If I were an entrepreneur there is no way I would invest my money in the UK, where it will be stolen through tax from day 1.

[@keithjackman8886]

Despite Labour's denial (Lying) these tax rises will happen and they will be substancial.

[@jonb5493]

Both Tory and Labour are BSing about the need to raise more taxes after the election.

[@Alan7997]

I've invested in a stocks and shares ISA for years climbing up the skills ladder where I literally cleaned up dead, rotten rats, severely injured my back and had to clean up excrement out of blocked toilets as a semiskilled labourer to finally becoming a joiner. At 45, my reasoning behind investing in income producing assets is not greed but practicality as I'll be 60 in 15 years and how much longer do I realistically have in such a physical job? We will have a communist light Government under Starmer who will laugh at and shut down the people they're stealing from.

[@mustafamar1437]

Successful people get punished while the lazy get treated like victims with welfare. Unjust society.

[@kenjepson1908]

It must be great to sit in an ivory tower, looking down on everyone, judging the "lazy" and pontificating... wouldn't surprise me if you're voting Tory.

[@robupsidedown]

Such a trope. Wealthy asset owners have been paying less according to the value of those assets, compared to wage earners. This aberration needs to be corrected.THAT is the injustice.

[@samr8603]

Tax all they want it is not going to fix the problems of a growing non working population compared to the increasingly shrinking working population. The real lesson of socialism always failing is going to be taught again unfortunately.

[@mustafamar1437]

@@robupsidedown The top 25% of wage earners put the most in to the tax pot while the poorest take the most out. That is unjust. They pay more than their fair share. The victimhood trope of the super rich avoiding tax is a distraction. Normal people who are successful in life are punished and taken for granted.

[@sciencefliestothemoon2305]

Then move somewhere else. I have heard Nigeria is nice around this time of the year

[@harrysahota4072]

Labour always target pensions, Gordon Brown destroyed the final salary pension schemes with decronian taxes on these schemes. This single act made a majority of these schemes to close over the years hence now the defined contribution schemes where the individual takes all the risks with their investment performance. Doesn't surprise labour looking to tax pensions and also so you can't pass it on to your family. Makes you wonder why anyones going to invest in pensions with all the incentives being restricted. Suppose Labour wants everyone of benefits and not to actually create wealth.

[@glennwhitlock1272]

The share of over-65s paying income tax has risen rapidly from 48% in 2010-11 to 65% in 2023-24 . Tories

[@davideyres955]

What Gordon brown did was remove that tax advantage for pension on dividend payments. What this did was cause the pension companies to pull final salaries pension but also to stop those funds investing in uk businesses. So it was counter productive to both people and general economic investment which reduces productivity, something that the UK has struggled with ever since. Labour is the gift that keeps on giving far longer than they have been in power.

[@JohnSmith-rn3vl]

What is this pension wealth you are referring to? You think everyone can invest in pensions which in turn invest in businesses which in turn require human beings to work to make money? How is that going to benefit everyone having a bunch of parasites living off the backs of everyone elses work ? That was rhetorical.

[@Isherwoodsounds]

Labour rob the poor to help the rich. Always been the same. Found money for a Mosque in London and thousands of council houses for muslims only.

[@markblance8492]

@@glennwhitlock1272Labour destroyed final salary pensions with the change Gordon Brown put through. There is no getting away from that

[@Doodles1815]

We’ve had this all before, remember the Brain Drain of the 60’s and 70’s! Here we go again, the politics of envy.

[@default_youtube_profile]

This is why most barber shop in UK and other shops only accepts cash.

[@johnboy9851]

So in a nutshell, force out the people we need and replace them with people we definitely do not want... Blair 2.0 is gonna be awesome! Now, where did I leave my passport

[@duncandisorderly822]

Taxes will go up but, as you say, the addition of VAT to private school fees will raise very little in reality (it’s more symbolic). In practice, it may raise less than expected. Currently, private schools are unable to recover VAT on virtually all their VAT bearing costs as the school fees are classified as VAT exempt. Making school fees taxable (i.e. subject to VAT) will enable private schools to recover all VAT incurred on costs, reducing costs overall. Hence, if private schools pass on some of this saving, fees may not go up by 20% overall and the Treasury will get less than expected. Add to that, there is a potential additional cost if parents switch their childrens’ education from the private sector to the public sector. It’s a policy borne out of envy rather than common sense.

[@brahimzaidi3849]

Not cost overall, there is.no VAT on wages which is the biggest cost to schools, not all costs have VAT I.e interest on mortgage. Being VAT registered does.not mean you get a refund, its rare to get refunds unless your loss making. In most cases being VAT registered means your overall less profitable regardless if your able t9 claim all VAT from all costs.

[@duncandisorderly822]

@@brahimzaidi3849 Agreed, not all costs incurred will be VAT bearing, salaries being a primary example. However, depending upon the extent to which the reliefs for charities can be applied, VAT will be incurred on IT, utilities, recruitment fees, communications, building repair and maintenance costs amongst others. VAT returns submitted may not be in a refund position but the reality is that you can now recover and offset that VAT on costs against VAT on fees, which you could not do so before. Administratively, this will simply the VAT process for private schools and reduce costs as irrecoverable VAT would previously have been a P&L item. Accordingly, it’s not just a case of calculating the tax gain by working out 20% of fee income. Fees charged might actually decrease slightly.

[@MaitreyaNow]

Having a class tiered system when it comes to education, healthcare, wealth is bad for the country as a whole. Especially in a plutocratic system like ours. The wealthiest people who are able to influence policy disproportionately will always do so to undermine public services that they rely less on. They influence policy to pay less tax resulting in massive wealth transfer from working people and the government to their own pockets and they use that money to buy more assets pushing up inflation and pricing everyone else out. Tax the rich or watch the country crumble feeding discontent expressed in xenophobia and hateful attitudes in general.

[@domtomas1178]

Well said!!! 👍

[@airdog1829]

Yes, a very naive proposal by The Rookies.

[@pemj7360]

Well if you are a car driver . As i am we are going to get well and truly screwed . From fuel to insurance. All part of the great net zero bollix

[@233kosta]

"Net zero" doesn't work. You need something to replace fossil fuels with _before_ you attempt to do so. The real solution to carbon emissions would have been expanding non-carbon electricity production (nuclear, etc.) and regulating the car industry so they aren't allowed to sell disposable and frankly dangerous crap. As it stands though, my mid-'90s Toyota doesn't steal my data, doesn't have a stupid touchscreen and doesn't have 15 sub-menus to scroll through just to turn on the fuching wipers. New cars (electric or otherwise) are hardly an "upgrade". What's worse - the government is going down the dumb & creepy route, doubling down on requirements for cars to have even more computers and further data harvesting. The future doesn't look bright.

[@dannymullins4356]

I doubt he'll do anything to motorists, Uxbridge put paid to that.

[@233kosta]

@@dannymullins4356 I hope you're right, but all I see is switching from one authoritarian socialist arsehole to another. I suppose you could call this one slightly more honest, in that his party at least doesn't pretend not to be socialist.

[@VincentComet]

So if all the pupils going to private schools. Stopped and went to public schools where would the government find the extra 500,000 places

[@Me-ri2ke]

It also costs around £7000 a year in tax payers money to educate each one of those pupils, just another £3.5 billion to find 😂😂

[@A190xx]

1. Will this just apply to independent schools or all private tuition, as legislation will need to demarcate the difference? Parents getting their child extra support could be penalise for the sin of aspiration. 2. The CGT will punish landlords the most. With rising interest rates and punitive taxes, they are no longer making a profit, together with punitive legislation is seeing an exodus from the market. Raising CGT could mean many will not have enough equity to pay CGT if they sell, so they will be forced to raise rents to cover to break even (or allow they lender to appoint an LPS receiver who does so). In turn, Labour have toyed with rent caps, which would leave landlords facing bankrupcy. 3. A wealth tax should be compared to when Uganda confiscated the wealth of Indian immigrants. This pushed the immigrants to the UK, who create new wealth and Uganda squandered all that they stole within a few years. Wealth is not in the physical assets, but the people. Punish them is cutting off one's own nose.

[@pmason6076]

If they say overall it's tiny and insignificant, they there's no point raising these taxes then. Complete sham.

[@lkearney7299]

So more taxes to stop you advancing and to keep you on the treadmill.

[@80barlo80]

I am afraid social mobility is long gone. Only your parents wealth dictates your future nowadays

[@BikeOnRoadLondon]

First country in the western world to tax education. This is a slippery slope. Not introducing wealth tax is a clear sign whose side Labour is REALLY on.

[@jamesbriers696]

Why should rich people get a tax break on a service by not having to pay VAT on that service? No one is forcing them to send their children to private school, the state schools are tax free.

[@BikeOnRoadLondon]

@@jamesbriers696 why stop there, tax the grammar, the elite Russel group etc etc.

[@jamesbriers696]

@@BikeOnRoadLondon Half of the schools considered Grammar are state funded and Labour, Tories, and the Lib Dems have imposed loans on all university students since 1998. Few of the Russell Group would considered themselves elitist universities. They are considered as "red brick" which is one step below Oxbridge but above those created post 1960's.

[@BikeOnRoadLondon]

@@jamesbriers696 grammars are selective and most children go into grammar are from well off backgrounds with 0 social mobility. If you want social justice then grammar schools should not enjoy the same level of benefits state school enjoy. Russel group are considered to be elite attracts well off families - so why not tax them more for the luxury of sending their kids there? Same principle as taxing private schools. Because well off people are going there tax them…isn’t that how the policy is based on?

[@Wyrm1701]

The problem with a wealth tax is that the government can only tax what they can see. If a high net worth person wishes to avoid a wealth tax then the obvious answer is to store the money or investments where the UK government cannot see it, i.e. offshore. If you are offshoring wealth, it makes sense to choose investments that are similarly invisible to the UK Exchequer. Therefore all those rich people who would invest in the UK out of loyalty or convenience, they all find somewhere else to stick their money. That's billions of pounds of inward investment and growth lost due to the actions of a greedy government. Furthermore a wealth tax can only really be implemented the once; after that one bite of the cherry nobody then trusts that country for a long, long time and the standard advice for larger investors is to stick the money offshore where the taxman cannot get his greedy little mitts on it.

[@tapwater128]

I'm a teacher in an independent school, and I can tell you that the increase in cost is being absorbed by the school and not passed on to the parents. How are they able to do that? Well, they are passing those costs onto the teachers by reducing benefits and halting pay raises.

[@knowledgeseeker5499]

Whole UK is suffering from low wages/salaries for very long time while culture of profiteering is being exploited by rich people. Large Majority of uk people don’t have £5K savings in their bank accounts. Very poor conditions of common people here in UK

[@ravenseft]

Bring on the end of the tax exemption for private schools. Enough is enough. Now live like the rest of us.

[@mrmeldrew693]

The truly elite ones won't notice it. Labour will be inadvertently helping the top 0.5% and that stupid policy will end up costing the taxpayer as kids drop back into the state system.

[@wdo20]

@@ravenseftget a proper job

[@aidandesilva]

Youre saying that everybody in public school is a chav? You are literally targeting most of the country. Private school is not a charity. State school have taken cuts over the past decade while private schools benefit from charitable status while ALSO pumping up their fees. Private schools could quite easily absorb some of the costs but the worst schools will choose to pass it all to their customers. If you cant afford to run your business with tax paid then like any business you should rethink your business model @a.s.3048

[@Gazooka]

Vote #ReformUK

[@garywhapples7172]

We're by no means well off but we've had a whip round the entire family to send my autistic daughter to one of the cheaper private schools in the area. This vat hike literally crushes us, its awful, spiteful and makes no sense.

[@patarciepaul]

Why do you think you have a right to a tax break???

[@garywhapples7172]

@@patarciepaul Because I am already paying more tax than most, I am also going to be paying for a state school system that is useless for my daughters needs - and I will not be taking that school place. I am, instead having to pay to get my daughter who has special needs a place in a private school. If anything, the state should refund me the costs of her state schooling that we cant use. Same goes for the NHS - its totally screwed and I have had to go private or suffer (literally limping about) If people pay for their own private schools they should get a refund.

[@patarciepaul]

@@garywhapples7172 Your daughter doesn't have to go to a private school and you don't have to have private medical insurance. It's entirely your choice to have those things and in doing so you don't deserve any tax rebate. You have the option to use state provided services like everyone else but you obviously think you are special and entitled.

[@mikegolfwhiskey71]

@@patarciepaul Wow - you've clearly not got a child with special needs. You've clearly not worked hard either to try and get your children the best care possible. If you had any clue you would know that in this country you take very opportunity available to you. Also I don't see why anyone would want to wait 16 weeks to be seen by an NHS consultant if you can be seen by the very same consultant the day after tomorrow as part of private health care. Its not Gary's fault the NHS is in the toilet. Your comment appears to be more driven by envy and a hatred of others doing better than yourself.

[@patarciepaul]

@@mikegolfwhiskey71 What about the millions who can't afford private healthcare or education??? It's just like it or lump it for them. Most of them work hard as well but simply don't earn enough.

[@kenhardy8405]

Labour will increase Every tax that they haven’t said are exempt in their manifesto. They have consistently refused to deny all other taxes that will rise.

[@dpn1604]

VAT on independent schools - policy of envy.

[@MarkCW]

1% capital tax on people with net assets above £5 million. Lower taxes for the other 99%.

[@EggchaserNZ]

That would be more acceptable or even clamp down on corporations ie Amazon, Google etc

[@mycryptojourney69]

That would work if you look at like week forward. Now if you look a bit further what will happen is you will get 1 % capital tax once and the rich will just move to anther country. And then you are royally fucked.

[@MarkCW]

@@mycryptojourney69 The UK Land, Retail, Commercial & Industrial property owned by the rich aren't going to walk off though...

[@mycryptojourney69]

It's not as hard just to sell and leave it all behind considering that somewhere else you could have all this for 1/5 of the price

[@MarkCW]

@@mycryptojourney69 Great, then the 99% have some cheap assets to buy up in the UK from the wealthy and more opportunities for gaining wealth. The wealth inequality problem would then be solved.

[@richguest]

Take from the successful to give to the lazy and the feckless.

[@SuperJinxter]

So everyone on an NHS waiting list is lazy and feckless? You’re a numpty.

[@lkearney7299]

Much of a capital gain is inflation and not profit, so shouldn't be taxed at all!

[@redroutemaster]

As a self employed tiny business owner now struggling seeing cheap African, Indian and Pakistani imported labour (to cut costs, to boost companies profits), my work as a qualified, time served telecom/datacom engineer I have seen my income fall by 90% since October last year. I’m soon to be struggling financially as the little savings I’ve paid myself since the end of 2021 and tail end of covid (that decimated my savings & bill/cost of living increases) will see my small one man band business go under in the next few months. I’ll vote reform as labour nor tories have a clue of how it is too struggle. I’ll fold and sign on, claim as many benefits I’m entitled to as our govts seem all to happy to look after immigrants before their own and I can see there being social unrest within two years of the loony left in power and the create yet another mess like war monger blair, who created the slide to where we are now. A country dying on its knees.

[@SuperJinxter]

All your problems have been caused by the Tories and you’re going to vote for Reform who are just Tory plus a touch of racism. The mind boggles 😂

[@carguyuk7525]

I pay £21k school fees per year. Luckily we have only 2 years to go to complete A levels. I don't have any savings, go on expensive holidays, or have a decent car. These are the sacrifices I make to cover school fees. Why is labour targeting normal working people. Its a joke. I have investigated options to do A levels at a state school but there are no spaces available from September onwards so I have no alternative other than to stick with the current school and borrow money to pay the vat.😊

[@daffydboi]

Funny how most of Liebour have sent their children to private schools.

[@janebufton1960]

That was your choice. You gave to get on with it. Some people can't feed themselves, let alone pay for education.

[@janebufton1960]

Sacrifices.

[@ebikescrapper3925]

If the government does not tax you then councils will due to budget deficits by putting charges on stuff you used to get for free. My brown bin used to be free to collect, it's now £50 per bin and I now get charged for bulk rubbish uplifts. The HMRC will also now look more closely at eBay sales and people's PayPal accounts.

[@ianbeaman7166]

Let’s try and drive all the wealth out of the country, that’ll end well 😂

[@billturner6564]

Best head 4 Portugal or Italy 6% tax in Italy and 0 in Portugal 😅 You wint need the heating on in June in Portugal eather 😅

[@jamesk1k]

People whose children go to independent schools should be given a tax discount equivalent to the amount of money they save the government by not burdening the government with the cost of educating their children.

[@patarciepaul]

Private schools actually cost the government much more than sending a child to a state school. They should be abolished altogether.

[@sweetvuvuzela4634]

So in the same logic those people using private health care should also get refund for not using nhs?

[@philipmoroz3470]

@@patarciepaul please explain why

[@hughiemg2]

So you want the government to compound the privilege they kids are enjoying with a tax break??

[@hoboh4987]

What most people do not understand is that most parents might withdraw their kids from private schools and then there will be serious burden on the educational sector.

[@javiernelson8809]

About wealth tax, it does not apply to all states in Spain, and it is cero in Madrid or Andalucia for example. This is another example how a government can apply the wrong policies and exacerbate its own problems.

[@Mike-lb1hx]

The tax rates in the UK are in reality higher than you quote (which you may have explained in other videos) as the tax system doesn't allow for inflation. I believe inflation was 3.8% for the last tax year and to tax interest and capital gains without allowing for it is a pseudo wealth tax of up to 1.7% (3.8% *45% tax rate)

[@evilzzzability]

From "Education, Education, Education" to "Tax Education"

[@evelbsstudio]

Only on private snobby schools

[@M896]

@@evelbsstudio One of the private schools around here specialises in special needs children. Alas ignorance is rife on this topic with most people thinking of Eton etc which is not remotely representative.

[@garywhapples7172]

@@evelbsstudio well done - total ignorance. Have you ever seen a private school?? its exactly as per the other comment below. Full of people with learning needs

[@bermudarailway]

So where does all the extra tax money go ?

[@patarciepaul]

Private education isn't a right and definitely shouldn't be tax free.

[@johnplus1]

One area of Tax that most commentators seemed to have missed that Labour have said in the past they will abolish is Marriage Tax Allowance. Currently as a married man I can, with my wife's consent transfer up 10% of her unused personel allowance. This can increase your tax allowance by £1,250 per year or reduce your tax bill by £250 per year. This change will affect a lot people like myself who are pensioners.

[@SuperJinxter]

I don’t know who has told you that but you’ve been told wrong. Cash gifts are non-taxable. You only pay tax on income that might be generated by the cash, like Building Society interest, or you may be liable to Inheritance tax if the deceased dies within 7 years. As it’s your wife, that shouldn’t be an issue. Honestly mate, get some proper advice.

[@Hackers-so9vi]

The nuts and bolts of this is labour hate aspiration, success and business. Having a small business myself and working long hours which just under half is unpaid work through having to generate my own work will only make this harder with less reward. How will any business grow with employing more people when they are trying to squeeze every bit of money out of business owners. I do know one thing for sure under a labour government my business will be struggling

[@HornDog67]

The worrying thing is the population will vote Labour into power knowing they will raise taxes. This is why we should vote for Nigel.

[@richardbrown9344]

No the worrying thing is the fact that the majority still dont realise yet that the voting system is rigged.

[@chilloutcentral2097]

Thanks to Nigel farce, the uk is losing £100,000,000,000 a year due to Brexit. He hasn’t apologised for that yet.

[@GroovyGreenBear]

Many want functioning public services. If taxes have to go up to pay for this then so be it

[@richardbrown9344]

@@kenfawcett4565 And if we keep paying it will continue...

[@richardbrown9344]

@@GroovyGreenBear You sound like a comatose, govt sheeple...Bahaaaa..

[@paulreilly5987]

they dont need to raise more taxes, just be more efficient with what is collected already.

[@AphexRebellion]

'may', 'could', 'might'.... how does it compare to the current record tax levels that are siphoned off via corruption? Many many people currently being lifted into more taxes just by the thresholds being frozen.

[@markblance8492]

What a surprise…! Liebour poring on the tax on those who are successful. What a surprise….. NOT

[@patarciepaul]

Successful or just lucky in life?

[@markblance8492]

@@patarciepaul Very rare you are lucky in business. Most have to work bloody hard to become successful. For those that are only lucky, their luck will inevitably change.

[@patarciepaul]

@@markblance8492 So attending a lucrative private school, being gifted connections and being parachuted into top jobs isn't luck?

[@markblance8492]

@@patarciepaul Nope, cos you have to pass the same exams. In reality no business will take on a dead weight irrespective of your connections. They just can’t afford to do that. If there is any luck, it is being afforded a better education, than the state process. If we had a decent government this is where the gap should be closed. That said, you still need to get through university and they really don’t care whole you are or what connections you do or don’t have. You really need to get the chip off your shoulder. Life isn’t like that in mainstream business, people work hard to grow and become successful. There are no silver spoons out there unless daddy or mummy own the business.

[@OO-ex5iq]

Thank you so much for the information.

[@bdcalling1391]

They will close down non dom tax loop holes too

[@patarciepaul]

Good 😊

[@sweetvuvuzela4634]

They should close all tax loop holes so the rich will have to pay their correct taxes. Including many many politicians including sunak and Cameron amongst few.

[@Vince_Paul]

No they will not, as these are the people that donate to the Labour Party and other parties. It will be much easier to hit the working class with taxes. For example climate change, eco environment tax’s. As they have done for the last 25 years using propaganda to make you believe it’s your fault, when it is not. Add vat to more products.

[@smangnall]

But if you are non-dom then why would you have to pay tax to the UK at all, it’s fook all to do with the UK!!

[@patarciepaul]

@@smangnall Why is it??? They are living in the UK. They will use UK roads and if victim of crime will have to use the police. These are all services paid for via tax and therefore they should be paying tax.

[@tdavies1627]

Wealth tax on savings i guess, coupled with capital gains tax, i can see the property market stagnating as whio would move to be penalised by high tax bill. Rental controls on landlords which failed in scotland.

[@duncabiscuit]

The average person is paying more tax than ever under Tory Government, whilst billionaires paying far less. Tory’s also destroyed the value of people’s pensions by crashing the economy.

[@ianwilliamson7703]

Labour has always raised taxes, borrowed money, hit pensions, raised national insurance and taxed savings. It was Labour who raised tax from 17.5% to 20%.

[@Hertog_von_Berkshire]

“The problem with socialism is that you eventually run out of other people's money”, ... Margaret Thatcher.

[@alexnelson9512]

She also said that “the European Union is socialism through the back door.“ She was correct - we are a poorer nation than we were 50 years ago. Europe will suck us dry.

[@RobinHarris-nf4yv]

It’s a great quote…..the last 14 years have seen Tories run out of other peoples money

[@DannyGmusicc]

Don’t worry wealthy people know how to get around any tax rises, how do you think they got wealthy in the first place.

[@markblance8492]

Watch Liebour implement a wealth tax…….

[@tf2368]

They definitely will in a second term with a huge majority

[@SuperJinxter]

On wealth over £10m… And you’re bothered by that because…?

[@markblance8492]

@@SuperJinxter It won’t be over £10m and the principle is taxation once.

[@Hertog_von_Berkshire]

Labour makes my blood boil!

[@JamesH1973]

All these people saying tax the rich is terrible probably have less than £1000 of savings and live wage to wage each month. In my option a wealth tax should be implemented on people who have so much money their passive income annually is £500,000 approximately £10,000,000 of wealth

[@FlyingFun.]

Watch them tax the average pensioners who managed to scrape up enough money together to retire so that they have to go back to work ...

[@UKGeezer]

That wouldn't raise much as there's not many people with that kind of wealth.

[@francistaylor7632]

​@@FlyingFun.The same pensioners who've gained no benefit from Ni reductions but are paying more in tax because the tax threshold has been frozen for years. They've offered to raise the threshold for pensioners since the election was announced. I wonder why?

[@wilsonflood4393]

If it was Scotland the SNP would apply wealth tax to people with £10000. They think 30K pa is rich.

[@michaelanwyll]

the last time labour did this, the rich left, the middle class avoided and the working class ended up paying the bill.

[@eckie4679]

The rich left? Where did they go? Total fiction. As if there’s some place on the planet where they wouldn’t be taxed 🙄

[@whitefoamsea8070]

It doesnt matter which political hue is in charge of affairs as we'll still be paying 20% VAT. It's like we're small business owners getting to choose which mafia family we pay our dues.

[@tonysanchez7862]

Labour-tough on success and the causes of success.

[@Neddie2k]

Labour a party for people that blame everyone else but themselves for not getting ahead in life.

[@kevinjohnson3782]

Bollocks! I don't envy anyone that gets on.

[@naheemrazwan]

Wonder what investors, high net worth, wealthy businesses and politicians make of this and how they will get around.

[@derbyfoxx2]

Working people and income is taxed at a higher rate than wealth & passive income, this is driving wealth inequality and the cost of living crisis. It's time to Tax the super rich at the same rate as working people. State run schools are taxed, so surely a level playing field is required and Private schools lose their charitable status. The majority of super rich are investing in property and buying up all our assets, not creating new assets and enriching the nation. As we saw with Roman Abramovitch the super rich can leave the country but they cannot take the assets with them that they should be ppaying the tax on. All these tax changes you talk about are affecting the super rich, time they started to pay back into the country and systems they have been extracting wealth from for the last 30+ years

[@glennwhitlock1272]

But let's not forget this headline from the Tele(Tory)graph. How taxes have soared to a near-record high under Tory rule The Conservatives have put Britain on a path to the biggest tax burden in its history (March '24)

[@fanfeck2844]

And now you want to add to it?

[@glennwhitlock1272]

@@fanfeck2844 of course not, but everything in the video is what 'might/could/may' happen and the comments are whining as though it's already happened. Fact is, Tories can't stay. Reform will certainly take us down a path to ruin (but don't realistically stand a chance of forming a government) so, what's the alternative?

[@fanfeck2844]

@@glennwhitlock1272 when you say Reform will take us to ruin, you’re doing exactly the same, just guessing. This country is already in ruin being heavily in debt, paying 70 billion just for interest. Open borders with more mouths to feed and pushing down wages. Neither Labour or any of the main parties will do anything for us

[@user-si7fj5rh5u]

The average person is better off now than for a long time under the Tories. The higher earners are paying a higher burden.

[@glennwhitlock1272]

@@user-si7fj5rh5u the average person doesn't agree and will vote the Tories into oblivion very soon. Thing is we're all banging on about taxation, but there's more to it. Here's a headline that tells the whole story "Average UK person has lost out on £10,200 since 2010" - The Centre for Cities (charity founded by Sainsbury, a prominent Tory donor) Zero growth in the UK

[@clivemcquire7686]

I remember Labour from before. Vote Labour, vote for high taxes. We need a change, vote reform.

[@marcusmaximus451]

Interesting vlog, keep up the good work, you’ve just acquired a new subscriber, kind regards to you and everyone out there, take care mark from Billericay 😀😀👍👍

[@TheKhalidx]

Good time to get out and move abroad for the next 4 yrs

[@bwilliams572]

VAT on private schools but not on Uni courses. Politics of envy nothing to do with tax loopholes.

[@deesinghda]

I like the sound of the Tax policies the reform party are proposing, maybe you should do a video on that

[@EggchaserNZ]

If they charge vat on school fees then that will be the end of offering busary's, full scholarships to bright kids from poor backgrounds. Charging those who have worked fckn harder just to help the lazy who refuse to work weekends or a second job is absolutely senseless.

[@colinpenaluna9268]

Labour always refused to talk about taxes All labour says is they will not Cut taxes on the Vat,NI and normal taxes But Refuse to say where taxes will be done Otherwords the working people will pay Green Issues Ulez taxes Council Taxes Private Taxes on Pensions Taxes on Working taxes Home Taxes They all affect the Working people

[@user-oz4fv5jy4h]

Since Brexit, UK has become a poorer Economy. What is the Solution to the Rich becoming more Rich, at the Expenses of the Middle Class being pushed down lower into the poor bracket,....other then Taxing the Rich a little bit more, to enable more help to the struggling?

[@davideyres955]

A flat fax regardless of the type of income. Corporation tax, salary disguised as company loans, national insurance, trusts, off shore, rental income, etc. tax it all at a flat rate. If you have more then you pay more. Stop this silly tax bracket thing which when you get to 100k earnings becomes 60% of your income going to the government for your work. No government should earn more from your graft than you do. Given that less than half of the population pay in more than they tax out it does seem to be falling of the heads of the middle class to pay for everything.

[@fanfeck2844]

@@davideyres955on 100k you’ll pay about 27k in income tax, so nowhere near half. Also you’ll be using all the usual tax dodges to bring that even lower

[@markblance8492]

It’s always middle England that pay the bill.

[@hoboh4987]

When they finish taxing the rich, the poor will be next. When you tax the rich, guess who pays for it? the poor because they are the customers of the rich. Any change is an opportunity for the rich

[@over-engineered]

There must be some input costs that private schools will be able to reclaim VAT on - that they currently can’t. So school fees excluding VAT should go down a bit!

[@jongalloway726]

Independent school costs are made up mainly of staff wages and other non-vat-able costs. So the simple answer to your point would be no it’s not likely to go down. These schools would have to cut costs or increase head count; both of which does not benefit the government. It’s a policy with lots of unintended consequences and done simply to get a headline or as the IFS has said to be some sort of social justice.

[@2525Hudson]

Labour are marxists in a suit, as a landlord i have been evicting my lovely long term tenants and selling my properties, so have many of my friends. We knew Labour would get in next, Labour will have to build social houses a lot quicker than they think, i have my last one exchanging in 2 weeks time. Adios PRS.

[@80barlo80]

I used to be a landlord too, but the ones lowering the capital gains allowance and removing mortgage interests as a claimable expense were the Tories, not Labour.

[@foreignermakingmoney-phili1458]

Labour will cause a exodus of investors, entrepreneurs and business men to leave this country to avoid being taxed to death, a brain drain. Those that will suffer will be the working class with lack of growth in the economy, less tax revenues to pay for essential services and loss of good jobs.

[@hugheaston7598]

It's already happening. 9,000 millionaires have left the UK so far this year, the most of any country in the world apart from China (which lost 12,000, from a population 20x larger than ours). That's at least 9 billion pounds permanently removed from the UK economy, and probably much more, since most are probably multimillionaires. And we're only half way through the year. Never mind, I'm sure Starmer will be bringing across hundreds of doctors, scientists and engineers in rubber dinghys every day to replace them.

[@evelbsstudio]

I agree labour are good at spending public funds but there also great for the NHS and work for the better of the working class.

[@lkearney7299]

To say that they're good for the NHS and working class is the usual cliched marketing spin to fool those of low intelligence, but it's simply not true.

[@hugheaston7598]

Are you kidding? Labour are no different from the Tories, all millionaire champagne socialists who live in affluent areas and send their own children to private schools. They don't give a toss about the working classes. Starmer who lives in a mansion, went to a private school, and whose father owned a toolmaking company. Even Corbyn is a millionaire and lives in a posh area.

[@evilqueen1]

So on the one hand, the "hard-working families" that currently send their kids to private schools can't possibly afford to pay tax on top, on the other hand, some private schools are allowing them to pay multiple years in advance so as to "avoid" the tax. That's a broken narrative right there. Look, the vast majority of people who send their kids to private school can afford to pay tax on top. They might not like it, but in all likelihood, they can afford it. We face a social funding crisis. It's not right that the very poorest in society pay a disproportionate amount of tax. That needs fixing.

[@SuperJinxter]

There’s also no mention of Private school fees going up by over 70% over the last five years. If a school raises fees 70%, that’s acceptable. Government wants to tax 20%, that’s unacceptable. It’s bonkers.

[@qed456]

Do you think this will all be enacted straight away Ms Kaur?

[@qed456]

@@SycAamore yes definitely

[@jasonbuksh2958]

TAX - keeping you poor so you have to work and pay more tax

[@iantobanter9546]

Here in Liebour run Wales we have no cap on council tax increases so 10-15% rises are common. We have also been hit by revaluations and Corbyn 's garden tax is also imminent. Wes Streeting has today refused to rule revaluations out for England which is currently based on 1992 property values, I believe. Brace yourselves but vote Reform.

[@timrowley4274]

Your local council (tax) is a business, if you do not (legally) have a signed contract with that business, you don't need to pay. Check it out for yourselves. ..... VOTE REFORM!!!!

[@stevedennis6733]

Tax is not the only way to raise funds. There's investment and borrowing. ONC figures show that every year in power since 1946, Labour have consistently borrowed less and paid off more debt than any Conservative governments. And all the while maintaining public services and the NHS. What do the Tories do with all their higher borrowing?

[@kaiwilliams3256]

Vote reform

[@silvafox7719]

Reform? They are a pressure group, not a political party. No one in Reform has any idea about policy. They are also backed by dubious billionaires, who want a health insurance system like the USA, and to erode workers rights while deregulating finacial services. A terrible idea.

[@RajaseelanGaneswaran]

This sounds like a nightmare 🙃

[@glennwhitlock1272]

Nightmare 👉1.7 million more people are paying the basic rate of income tax, with the total number increasing from 26.8 million to 28.5 million since 2010. Since thresholds were frozen in 2021/22, an additional 1.1 million are paying the basic rate of income tax and an additional 1 million are paying the higher rate. Mainly from poorer, northern areas and Wales.

[@RajaseelanGaneswaran]

@@glennwhitlock1272 that's why this is a nightmare. A wealth tax is tax on savings. As poor, we need to save more for a rainy day. Wealth tax will tax what we have in savings as well. Damned if we do, damned if we don't. The rich will still be able to grow their wealth at a higher rate than tax deductions.

[@rodneyfungus8249]

@glennwhitlock And Labour are not planning to reverse it. Their manifesto shows they are increasing taxes further.

[@glennwhitlock1272]

@@rodneyfungus8249 so, the answer is? Please don't say Reform.

[@3DJay429]

@@glennwhitlock1272 Reform

[@aidandesilva]

People in the comments are getting worked up over something that wont affect the majority of you. Wealth taxes are tended to be targeting millionaires and up - whereby their passive income is on par with working people's salarie and the top 1 percent being well past this. The idea that only millionaires etc have "worked hard" is actually laughable. Most of the wealthy inherit it, or got their opportunities through a good childhood. Of course there are some success stories but most the entrepreneurs you are thinking of would be well out of the scope of a "wealth tax". A doctor can be earning up to 100k a year and wont be touched by this. Would you say they are hard working? I would love to hear some suggestions on where you guys think the taxes should come from rather than the NIMBY attitude i am seeing here.

[@needledrag]

I think people get worked up because instead of talking about making government more efficient and cutting their own operating costs, a lot of these taxes force businesses to do it. Almost every government department I've dealt with is inefficient and therefore more costly to operate. If they could show people they can do this then I think it's fair to raise certain taxes when needed. But governments should learn to spend wisely first before asking the public to cough up more for their poor fund management.

[@hoboh4987]

Why can't you aspire to be rich to pay more.. because you expect someone else. We can gain more from taxes by promoting more productive and not discourage people. I remember meeting someone that refused to become a manager because she did not want to be taxed at 45%

[@1_mak]

This was a very useful and informative video. Straight to the points 👏🏾 thank you

[@Manjaks]

I know a question of Longshot - however - why roads in UK are so crap ? :)

[@russellhunter8378]

Councils choose not to spend the money they receive on roads, but on other things. Camden Council in London spent £63 million on refurbishing it's town hall but closed several public toilets in the borough because they were deemed too expensive to run.

[@jonathanburson4994]

Does that £1.6bn for VAT on school fees take into account the extra 150-200k more students in the state system?

[@SuperJinxter]

Because that would happen…! You’re clueless!

[@jonathanburson4994]

@@SuperJinxter I put my son through private school with help of a bursary and grandparents - oh and no holiday for 7 years, fancy cars, eating out etc etc. so I’m afraid you are the clueless one. Yes there are wealthy people sending their children to private schools but in your average private school (ie not places like Harrow and Eton) they are in a minority