@RobBeetweets

Investment management distribution, family man, U18’s cricket coach

 Hertfordshire & City
Joined May 2010
  • Tweets2.8K
  • Following396
  • Followers158
70Media
The absurdity of the Mansion Tax is exquisite. It has nothing to do with taxing exuberance. It’s an envy tax attaching hard working families struggling with London’s housing market, after decades of mass migration. #MansionTax #TaxTheRich
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If you are feeling poorer since Labour gained power. This is why.. Employer National Insurance increased from 13.8% to 15%. • The employer NI threshold cut from £9,100 to £5,000. • Income Tax and National Insurance thresholds frozen until 2031. • Capital Gains Tax increased from 10% and 20% to 18% and 24%. • Business Asset Disposal Relief increased from 10% to 14%, then 18%. • Investors Relief increased and its lifetime allowance cut from £10 million to £1 million. • Carried interest taxation increased and moved towards the Income Tax regime. • Dividend tax rates increased by two percentage points. • Savings income tax rates increased by two percentage points. • Property income tax rates increased by two percentage points. • Most unused pension funds brought into the Inheritance Tax net. • Agricultural Property Relief restricted. • Business Property Relief restricted. • Inheritance Tax thresholds frozen for longer. • The non-dom regime replaced with a more extensive residence based system. • VAT imposed on private school fees. • Business rates relief removed from private schools. • Stamp Duty increased on second homes and buy to let properties. • The Furnished Holiday Lettings tax regime abolished. • Pension salary sacrifice benefits capped at £2,000 before National Insurance applies. • The Cash ISA allowance cut to £12,000 for most under 65s. • A 22% charge introduced on interest from cash held inside non cash ISAs. • Restrictions introduced on transfers and cash like holdings within ISAs. • The Energy Profits Levy increased and extended. • Investment allowances for oil and gas producers reduced. • A new Vaping Products Duty introduced. • Tobacco duties increased above inflation. • Vehicle Excise Duty increased for many new cars. • Electric vehicles brought into the Vehicle Excise Duty system. • A new mileage tax announced for electric and plug in hybrid cars. • Air Passenger Duty increased. • Climate Change Levy rates increased. • Plastic Packaging Tax increased. • A new Carbon Border Adjustment Mechanism introduced. • Making Tax Digital extended to more landlords and self employed people.
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Rob Bee retweeted
Lyndon Wood
@Lyndonx
12h
The buffer is gone. KPMG: Healey’s headroom is down to £12bn from £23.6bn. 
Borrowing costs did that. Energy prices did that. 
October 28 is now a tax raid, not a growth budget. They still won’t touch the waste. 
They still won’t reopen the North Sea properly. 
They will go after CGT, inheritance and the house you already paid for. That is not “working people protected.” 
That is owners, sellers and employers paying for gilt yields. I run a payroll. When the state runs out of headroom it does not become more careful. It becomes more extractive. 
Capital pauses. Hiring pauses. Sterling takes the risk. UK economy is screwed for at least the next 2-3 years.
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So here's the deal. You make an investment, if it all goes wrong and you lose money it's your problem. If it all goes right and you make a profit, you give almost half the profit 45% to the government. Investors will be flocking to the UK. 🤬🤬🤬
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Next budget may well include the dumbest economic policy of all time. The clue is in the name - Capital Gains Tax - means gains on capital that you’ve invested and put at risk. Tax it as if there’s no risk involved and fewer people will invest. Bad for jobs, bad for the economy. Also bad for tax receipts - you only pay CGT when you sell stuff, so people who’ve invested and own stuff already will defer selling stuff until a future govt sees sense and lowers CGT. Utterly stupid sixth-form economics.
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A £14bn capital gains tax raid? Perhaps it would be better just to control spending instead. uk.finance.yahoo.com/news/bu…

Burnham weighs £14bn capital gains tax raid

Labour is considering raising capital gains tax (CGT) to fund a £20bn handout for the lowest earners.

uk.finance.yahoo.com
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The IMF says Britain’s tax burden is way out of kilter, grossly imbalanced and so high that it is both unsustainable and incompatible with promoting a growth economy. Which is why Burnham plans to increase taxation further still.
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Rob Bee retweeted
Aaron Cale@roycecale
Sep 19
Replying to @TheExtremeMusi1
Actung Baby deserves to be in every conversation about the greatest albums of all time because they flipped the script Kid A style except did it first.
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Rob Bee retweeted
Lyndon Wood
@Lyndonx
Sep 20
Capital Gains Tax could increase as Burnham wants to set fire to the economy even more. HMRC’s own figures: hiking the higher CGT rate another 10 points loses £3.5bn a year by 2028-29. People just stop selling. Lock-in freezes company sales, second homes and share portfolios. Entrepreneurs delay exits, investment falls, capital stays stuck with the wrong owners. You don’t raise more tax. You just shrink the economy.
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Replying to @Lyndonx
Yup. The 16,000 millionaires who already packed up and left will look like a drop in the ocean. If CGT goes up, the next wave will be founders of digital SMEs who can pack up a laptop and run their business from anywhere.
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In just two years Labour have hit us with over £64 billion in extra taxes & over £244 billion in extra borrowing - and they’ve squandered the lot with nothing to show for it. Fancy thinking that the answer is more taxes and more borrowing. The mind boggles.
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In July 2024, it was promised that introducing Europe’s only Education Tax would fund 6,500 extra teachers. Instead, there are currently 2,300 fewer state-school teachers & PE teachers are being made redundant.
Emma Woolf@EJWoolf
Sep 20
Making PE teachers redundant? When primary school children already get so little time outdoors. And we have an obesity crisis amongst young people. This is ridiculous. And disgusting. (And I can confirm it's happening in primary schools.) Shame on you @UKLabour
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Leaks about lowering the Mansion Tax threshold accelerate the collapse in the property market across London and the South East. Leading to lower stamp duty revenues, and less tax from estate agents etc. And then the M Tax gets delayed because the vaulatiuons are too complex. The net result? Less money for the govt. But, hey, its good to have the grown ups in charge.
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Refusing to drill for our own North Sea oil but then buying the exact same North Sea oil from Norway makes Britain the virtual-signalling, eco-nut capital of the world
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Parasite MP that's never had a real job, calls man with 17,000 employees a "parasite"... 🤦‍♂️
Zarah Sultana MP
@zarahsultana
Sep 19
Coming from the man who moved to Monaco to dodge a £4 billion tax bill. Jim Ratcliffe, a billionaire parasite, attacks the most vulnerable in society to protect his own class interests. He should actually just focus on getting a win at Old Trafford.
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When I went before the Treasury Select Committee every expert said a mansion tax was a bad idea, I recall @timleunig saying “It would be more efficient to have a whip round in this committee room” Why has Gov. become so incapable of listening to people who know more than them?
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This is our problem. A useless know-nothing that has never created a single job, product or export in his life, criticising a man who has created tens of thousands. A more cancerous party than Labour, there is not.
Torsten Bell@TorstenBell
Sep 19
So much of the right these days just have a massive patriotism problem. This guy: - is a tax exile (left long before this govt) - hates his own country while complaining he doesn’t get big enough subsidies from it - laments the hit to manufacturing driven by a Brexit he supported
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Rob Bee retweeted
Prof.@Prof_Umbongo
Sep 19
Nah…. It’ll go lower than that, it begs the question, why work? Why save? Why buy a house? Why pay a pension? So some cheap politician take it off you and use it the buy the votes of those who do none of the above?
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Jim Ratcliffe grew up in a council house. He created a business which has paid the salaries of thousands of staff and millions in tax. You, by contrast, come from a comfortable middle class background. Your career has been in politics and think-tanks. He has done more for this country than you are ever likely to. I understand why, as a Labour MP, you seek to demonise “the Right”. But this is reductive shite.
Torsten Bell@TorstenBell
Sep 19
So much of the right these days just have a massive patriotism problem. This guy: - is a tax exile (left long before this govt) - hates his own country while complaining he doesn’t get big enough subsidies from it - laments the hit to manufacturing driven by a Brexit he supported
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This is the attitude that will destroy the UK if it is allowed to prevail. A taxpayer-funded infant MP calls a man who created thousands of jobs and paid hundreds of millions of £s in tax during his career “a parasite”. 🙄
Zarah Sultana MP
@zarahsultana
Sep 19
Coming from the man who moved to Monaco to dodge a £4 billion tax bill. Jim Ratcliffe, a billionaire parasite, attacks the most vulnerable in society to protect his own class interests. He should actually just focus on getting a win at Old Trafford.
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