Thursday, 25 November 2010

VAT a rip-off! Time to tax the rich

We're all in it together aren't we?

All of us, working or not, pensioners, disabled, millionaires and paupers are all paying the same taxes, right?

Except that very few people in Wales are sending their kids to private school - just 2% by the last count - and even fewer maintain a private jet or helicopter.

Yet while we ordinary folk are expected to pay VAT on goods and services, the rich are exempt from paying VAT on the kinds of services they use.

Perversely, mobility aids for disabled people has a 5% VAT rate while a millionaire's helicopter is exempt from VAT. The full list of exemptions is here

Someone who can afford to send their kids to a £30,000-a-year private school is also exempt from paying VAT for the service. The schools themselves don't pay taxes like the rest of us either - they're classed as charities.

In it together? When even the Chancellor has a £4m offshore trust to avoid paying UK tax and Vodaphone has £6 billion of taxes written off by HMRC, you must be joking.

Hat tip to the ever readable Valleys Mam

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