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AI Revenue Policies

When Government raises Tax rates and/or add new Taxes without reducing other Tax burdens, they have failed.
AreaBudget BillionsChanged Billions New Budget Billions Increase (%)
Capital Gains Tax £20.00 £13.88 £33.88 69.40%
Corporation Tax £100.00 £48.05 £148.05 48.05%
Income Tax £300.00 £121.42 £421.42 40.47%
Inheritance Tax £10.00 -£1.90 £8.10 -19.00%
National Insurance £250.00 -£99.00 £151.00 -39.60%
Other Revenue £250.00 £18.05 £268.05 7.22%
VAT £200.00 £58.15 £258.15 29.08%
Total£1,130.00 £158.65 £1,288.65 14.04%
The Taxation increases would increase Tax burden from highest ever of 37% to a new high of 42.8%.

Capital Gains Tax (CGT)

Capital Gains Tax:Total Budget £20 Billion
Revised Budget £33.9 Billion changed by £13.9 Billion: 169.4% Increase

Capital Gains Tax Capital Gain Tax Rates

Policy:

Scrape the special 18% lower rate on Capital Gains.

Increase Capital Gains Tax rate from 24% to 25%.

Annual Revenue Increase of £3 Billion

Capital Gains Tax ISA Removal

Policy:

Removal of all current Cash and Share ISAs and no future ISAs.

Annual Revenue Increase of £3.6 Billion

Capital Gains Tax Principal Property

Policy:

New Capital Gains Tax on gains made from the sales of Principal Property at reduced rate of 10% on gain.

Annual Revenue Increase of £7.3 Billion

Corporation Tax (CT)

Corporation Tax:Total Budget £100 Billion
Revised Budget £148.1 Billion changed by £48.1 Billion: 148.0% Increase

Corporation Tax Corporation Tax Rates

Policy:

Removal of small companies Corporation Tax rate.

Increase current Corporation Tax rate of 25% to 35%, partly funded by substantially reduced Employers National Insurance contribution costs.

Annual Revenue Increase of £39 Billion

Corporation Tax Tax Reliefs

Policy:

Remove non-structural Tax reliefs.

Annual Revenue Increase of £5 Billion

Corporation Tax Research & Development

Policy:

Remove the "super-deduction" for Technology Relief and Research & Development.

Annual Revenue Increase of £3 Billion

Income Tax (IT)

Income Tax:Total Budget £300 Billion
Revised Budget £421.4 Billion changed by £121.4 Billion: 140.5% Increase

Income Tax Annual Allowance

Policy:

Start Income Tax collection from £12,000, currently at £12,700 and alter every several years.

Annual Revenue Increase of £3 Billion

Income Tax Bank and Fixed interest

Policy:

Interest paid from banks and bonds to personal accounts should have basic rate income tax deducted at the source.

Annual Revenue Increase of £25 Billion

Income Tax Clawing back Benefits

Policy:

Increase threshold of income of £50,000 to £120,000, before the loss of child benefits and nursery time.

Annual Revenue Reduction of £-6 Billion

Income Tax Gambling Winnings

Policy:

Charge a 35% tax on lottery, game show winnings and Premium Bond winnings over £1,000, with the tax deducted at the source.

Change to the online gambling taxes, whilst ensuring the tax does not flow abroad.

Annual Revenue Increase of £1 Billion

Income Tax Getting paid via Companies

Policy:

Income earned for personal services in the UK should be subject to UK Income Tax, regardless of the legal structure it is paid through.

Annual Revenue Increase of £1.6 Billion

Income Tax Non-Doms

Policy:

Non-UK nationals can choose to pay a flat tax of £50,000 a year.

Annual Revenue Increase of £2.5 Billion

Income Tax Pensions

Policy:

Change the lump sum that can be drawn out Tax free from 25% to 12.5% from 55.

Annual gains on capital or investment income within the pension wrapper will be taxed at 25% and paid annually.

New 25% "Pension Guarantee Levy" on the growth in value of index-linked pensions each year.

Annual Revenue Increase of £10 Billion

Income Tax Redundancy

Policy:

Redundancy, remove Income Tax relief on recipient.

Statutory Redundancy should be capped at three months' salary.

Annual Revenue Increase of £1.6 Billion

Income Tax Tax Rates

Policy:

Bold new approach to income tax: a single, proportional tax rate of 35%.

Annual Revenue Increase of £80 Billion

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Inheritance Tax (IHT)

Inheritance Tax:Total Budget £10 Billion
Revised Budget £8.1 Billion changed by £-1.9 Billion: 81.0% Reduction

Inheritance Tax Pension

Policy:

No IHT on pensions, ever.

Annual Revenue Reduction of £-1.6 Billion

Inheritance Tax Seven Year Rule

Policy:

Scrap the 7-year rule and bring in a simple, 100-day plan for gifts.

Annual Revenue Reduction of £-2 Billion

Inheritance Tax Spouse / Partner

Policy:

Surviving spouse or Civil Partners, where no Inheritance Tax is due, Capital Gains Tax must be paid on the profit made over the years.

Annual Revenue Increase of £3 Billion

Inheritance Tax Who Pays

Policy:

Reduce the current rate of 40% Inheritance Tax in half, to 20%.

Annual Revenue Reduction of £-2.3 Billion

Inheritance Tax Tax Rate

Policy:

Genuine working farms and UK trading businesses are completely protected from Inheritance Tax.

Annual Revenue Increase of £1.5 Billion

National Insurance (NI)

National Insurance:Total Budget £250 Billion
Revised Budget £151 Billion changed by £-99 Billion: 60.4% Reduction

National Insurance Employees National Insurance

Policy:

Remove Employee National Insurance Contributions all together.

Annual Revenue Reduction of £-75 Billion

National Insurance Employers National Insurance

Policy:

Cut the rate of Employer's National Insurance from 15% to 10% and adjust the salary bands

The starting point for paying would be raised from £5,000 to £12,000, to match Income Tax personal allowance.

Cap would be introduced at a £50,000 salary, replacing the current unlimited system.

Annual Revenue Reduction of £-34.5 Billion

National Insurance Employers National Insurance Relief

Policy:

Scrap the current Employers National Insurance Relief system and create a new "Start-up Jobs Grant".

Annual Revenue Increase of £10.5 Billion

National Insurance Self-Employed changes

Policy:

Fully merge the taxation of self-employed profits into the new, simplified Corporation Tax system.


Other Fees & Revenue Changes

Other Revenue:Total Budget £250 Billion
Revised Budget £268.1 Billion changed by £18.1 Billion: 107.2% Increase

Other Revenue EV Charging Levy

Policy:

EV Levy from all commercial charging stations at 30p per Kilowatt hour.

Annual Revenue Increase of £1.5 Billion

Other Revenue Fuel Duty Increase

Policy:

Increase fuel duty to 75p per litre and have a downward adjustment mechanism if oil price increase/spikes outside of control of the UK from external events.

Annual Revenue Increase of £12 Billion

Other Revenue Healthcare GP and Health Centre appointments Fees

Policy:

£25 charge for GP visits, with the vulnerable fully protected.

Annual Revenue Increase of £1.8 Billion

Other Revenue Healthcare Medication Fees

Policy:

Automatic free prescriptions based on age must end.

Annual Revenue Increase of £1 Billion

Other Revenue Healthcare Tests and Scans Fees

Policy:

Fair charge should be introduced for tests and injections that are not medically necessary.

Annual Revenue Increase of £600 Million

Other Revenue Healthcare Treatment Fees

Policy:

Non-essential healthcare a charge would be made.

Annual Revenue Increase of £7.5 Billion

Other Revenue Oil & Gas Licences

Policy:

Grant new North Sea oil and gas licenses.

Annual Revenue Increase of £3 Billion

Other Revenue Rates

Policy:

Comprehensive review of the current business rates system.

Annual Revenue Increase of £1 Billion

Other Revenue State Housing

Policy:

Government properties, increase rent to minimum of 70% of Commercial rent, currently on average of 50%.

Annual Revenue Increase of £3 Billion

Other Revenue Student Loans

Policy:

Accelerate recovery of student debt and offering discount for early repayment.

Reduce rate of interest charged on outstanding amounts.

Annual Revenue Reduction of £-15 Billion

Other Revenue Tax Evasion ongoing

Policy:

Unleashing modern technology—using AI and data science and better Government co-ordination to find Tax evaders.

Annual Revenue Increase of £1 Billion

Other Revenue Transport

Policy:

Road Haulage Annual License/Fee for European Haulage vehicles to travel on UK roads.

Non-UK registered Lorry crossing of the Irish Sea, departing from UK to pay a fee.

Annual Revenue Increase of £1 Billion

VAT

VAT:Total Budget £200 Billion
Revised Budget £258.2 Billion changed by £58.2 Billion: 129.1% Increase

VAT VAT Big Ticket items

Policy:

New 25% "Luxury Rate" of VAT should be applied to any single item that costs over £10,000.

Annual Revenue Increase of £5 Billion

VAT VAT Charity

Policy:

Rules need tightening, so more VAT collected, as some venues and events use loopholes to avoid paying VAT.

Annual Revenue Increase of £50 Million

VAT VAT Rates

Policy:

Increase Vat rate from 20% to 22.5%.

Annual Revenue Increase of £40 Billion

VAT VAT Reversal for Private Schools

Policy:

Reverse the addition of VAT on Private Schools.

Annual Revenue Reduction of £-1.4 Billion

VAT VAT Scope Food & Drink

Policy:

New VAT of 5%, applied to all Foods and Drinks (for humans) currently Zero rated.

Annual Revenue Increase of £12 Billion

VAT VAT Scope Flights and Holidays

Policy:

New VAT of 10% to Flights and Holidays, removing the APD and Aviation Fuel tax.

Annual Revenue Increase of £2.5 Billion

Consider reading Tax History Deep Dive