TAXATION & CUSTOMS
To see our Manifesto on Taxation & Customs check out the video below
Taxation & Customs
Taxation & Customs (Video Transcript)
We cover some of our taxation policy under our Finance section of our manifesto at ‘nonpol.com. Here we will now go into more details.
VAT is very expensive to run, especially the cost of numerous fraud investigations and court cases. VAT will therefore be abolished. Our plan for the Economy, and this taxation and custom policy will makeup for the short-fall in the net lost revenues from VAT. The NONPOL policy is to simplify taxation but also to ensure tricks and schemes run by companies to reduce their tax bills are nullified. The likes of Amazon and Google will no longer escape corporation tax. A new taxation model will apply to Super Companies so that they pay their fair share of taxes, based primarily on number of employees and real estate used. We do not want to penalise Super Companies only ensure they pay the same as other companies in the UK. Companies with debts to the UK government will be recovered from the directors registered with the company in the previous 3 years. Anyone individual with a debt to the UK government can only have one bank account and that must be with the UK National bank. All other monies will be moved to their UK National bank account and other accounts closed. Fraud in this will be strongly penalised with additional debt to the UK Government.
There will be a single rate of income tax of 25%. This will allow everyone that works hard for a living a chance to reap their rewards. It will also attract high-earners to live in the UK. Furthermore, this will generate more disposable income to be spent on the economy. To support low earners, the threshold before income tax is payable will be £35,000. Also, like Germany, everyone with a national insurance number will have to submit a tax return. Any fraud on tax returns will incur a large fine, which will be collected through an individual’s tax code, similar to a student loan. Also, other costs or money owed to the government, see our manifesto on benefits, social reform and prison reform, will also be paid via the tax code. The student loan company will be rationalised to become the UK Loan Company and be part of the UK National bank. Besides collecting money owed to the Government through personal tax codes, this bank will also give personal loans at low rates and again will collect payment through the tax code or a direct deduction from wages. An individual will not be allowed to have a bank account with any other bank other than the UK national bank, until all their debt is paid back to the Government.
Cash moved from a UK bank to a foreign bank will have a currency export tax applied to it. Cash moved to the UK from a foreign bank will have an import tax. In return for this there will be two bank base rates, one for savings and one for loans, so that deposits attract more interest. This will discourage the movement of funds to tax havens or to dodge inheritance tax and other tax avoidance schemes and encourage money to come to or stay in the UK.
There will be a fixed fee on national insurance for everyone, payable on a monthly basis, employed or not, however those who do not use the health service will get a no-claims discount. This will pay for the health service and pensions. If people are unemployed or don’t earn enough, they will have their monthly payments accrue as a debt to the government, that will be collected over time through the individuals tax code. With our plan of nearly 100% employment, see policy on economy, most people will be able to earn a living and therefore able to pay their bills and any debt to the government. If you do not have a UK National Insurance number, you pay as you go for the health service.
The post office will be nationalised and be branches of the UK National bank. From a customs perspective everything addressed to a private person coming through the post or courier from another country, especially China, will have the appropriate tax applied so that the cost will equal the cost of the same or similar item bought in the UK. Where the item cannot be purchased in the UK the item will incur the taxation based on the import duty tariffs from the country it comes from.
Customs import tariffs will be reviewed so that all products coming into the UK will be taxed so that the cost of that product is comparable, not more expensive, to the UK version, thereby giving the UK consumer a choice of products based on quality and preference rather than cost. Products that are not comparable in the UK will be taxed bases on the best tax deal that can be negotiated with that country, against our imports into that country. We will ensure we balance out cheap imports that are undermining the UK Economy.
As Covid 19 originated in China and was not bought to a halt like SARS1, it has cost the UK thousands of lives and billions in costs. The cost to the UK from Covid will recouped from the Chinese economy. This will be done via imports of Chinese goods and taxation on Chinese assets based in the UK, until the debt is cleared. China had a chance to either stop Covid spreading or allowing international bodies in to investigate immediately after the outbreak to ascertain the source and extent of the disease. They chose not to do this and must pay the cost of their decision. Covid has resulted in a huge human cost and must be atoned for.