Now then, seeing as I live in Euroland and am subject to a different Soviet tax regime, I don’t really know the details, but I do know that the UK government have set up retrospective legislation to close a ‘loophole’ that existed since 1987 and lots of people are now confronted with enormous tax bills they never expected to receive.
I don’t really have a problem with loopholes being closed if they’re clearly costing revenue, but I do have a problem with retrospective legislation. I own a business in Euroland. At some time in the future I might consider investing in or starting a business in the UK. However, given that the British government is acquiring a reputation for ‘windfall taxes’ and retrospective legislation, surely I would be mad to set up a business there? This goes right to the heart of a country’s attractiveness to investors; the stable political and regulatory environment. You can survive the pound collapsing. You can survive a crappy credit rating. You can survive a recession. You’ll still have a developed country with something to offer the world. But if a country loses it’s reputation for political and regulatory stability, it will be f**ked. What loony would invest in a country with the real chance that somewhere down the line the government decides to slap backdated taxes or fines, with interest, on their business?
Sick and extremely damaging.
Most of you have the vote in the UK. I don’t, as Labour took away the vote for expats who’d been away for 10 years (probably because they realized we’re all tories). You do have the vote. Please use it to get rid of Gordon and his cronies in the biggest way possible. Put aside your partisan preferences and vote for the party that is most likely to defeat Labour in your constituency. Hopefully the Labour party will end up destroying itself as a result of a landslide defeat. I hope so, because they’ve driven Britain to the edge of bankruptcy twice in 30 years and should never be allowed anywhere near power again. Get rid of Labour so Britain can once again be a worthwhile place to invest. It isn’t now.
Oh, and commiserations to the people who've been bitten by this.
I don’t really have a problem with loopholes being closed if they’re clearly costing revenue, but I do have a problem with retrospective legislation. I own a business in Euroland. At some time in the future I might consider investing in or starting a business in the UK. However, given that the British government is acquiring a reputation for ‘windfall taxes’ and retrospective legislation, surely I would be mad to set up a business there? This goes right to the heart of a country’s attractiveness to investors; the stable political and regulatory environment. You can survive the pound collapsing. You can survive a crappy credit rating. You can survive a recession. You’ll still have a developed country with something to offer the world. But if a country loses it’s reputation for political and regulatory stability, it will be f**ked. What loony would invest in a country with the real chance that somewhere down the line the government decides to slap backdated taxes or fines, with interest, on their business?
Sick and extremely damaging.
Most of you have the vote in the UK. I don’t, as Labour took away the vote for expats who’d been away for 10 years (probably because they realized we’re all tories). You do have the vote. Please use it to get rid of Gordon and his cronies in the biggest way possible. Put aside your partisan preferences and vote for the party that is most likely to defeat Labour in your constituency. Hopefully the Labour party will end up destroying itself as a result of a landslide defeat. I hope so, because they’ve driven Britain to the edge of bankruptcy twice in 30 years and should never be allowed anywhere near power again. Get rid of Labour so Britain can once again be a worthwhile place to invest. It isn’t now.
Oh, and commiserations to the people who've been bitten by this.
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