Accountant Exposes: How Labour Will Increase Taxes 

I'm favoured, $27K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America.🇺🇸

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.

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

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.

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

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

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?

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.

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

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.

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

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

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

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

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

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

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

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

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

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.

Vote #ReformUK

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

'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.

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.

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.

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?

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.

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!.

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.

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.

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.

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. ...

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.

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

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.

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.

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.

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

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%.

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.

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

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

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.

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

Labour makes my blood boil!

VAT on independent schools - policy of envy.

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.

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)

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 😅

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 😀😀👍👍

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.😊

Thank you so much for the information.

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

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

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

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

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.

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

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

Labour-tough on success and the causes of success.

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…

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

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.

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

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

Is tax even legal, is there a law that requires for us to pay tax

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

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

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

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.

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

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.

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

Is VAT on school fees possible without charging VAT on state schools services (on competition grounds) While State schools don't charge for education many do for other services such as the state boarding schools charge for the boarding and at 15k per year the boarding is more expensive than some private school education

Labour manifesto: "we won't increase VAT... well, except private schools"

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

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.

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.

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

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

I’m a pensioner. I’ve worked all my life never been out of work paid my taxes all them years and national insurance. I had a small pension when I retired. That’s now gone but I was left in Harrison‘s money and now they’re gonna take that away from me are they?

if the conservatives get in power after labour's term do you think they will be able to reverse some of these laws and tax hikes?

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.

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

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.

How many people have just withdrawn their 25% tax free money from pension plans,

They will close down non dom tax loop holes too

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

Very clear presentation. Thank you.

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!

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?

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)

Hey Kiran, I have a considerable amount of savings, our family won a small prize a year ago, and shortly after that I lost my dear mum, so I’m also in the middle of probate, which I’m going through with my dad. We are also trying to sell an old house we used to rent out. I’m 45, and an unpaid carer for my elderly dad. I suffer also with mental, and physical health, myself, so I don’t work, and desperately rely on the interest of my savings to live on. I know in the eyes of the law I might ‘appear’ asset rich, but I don’t own a house, and have no physical assets, just savings, and a small amount invested. I rent a very crappy flat, so I’m hoping to own my own house very soon. Once the probate has been settled I’ll be sitting on a lot of savings, how on earth can I protect myself from Labours greedy clutches? Trusts?

Capital Gains Tax should be in line with Income Tax -crazy that rich people pay less tax on passive income from capital gains than people who work for a living.

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

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

" we contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself by the handle" - Winston Churchill

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

Watch Liebour implement a wealth tax…….

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