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Report Suggests All British People Should Pay UK Tax

In a new report by the Chartered Institute for Securities and Investment, or the CISI for short, it has been suggested that all people who have a British passport should pay UK income tax, no matter where they are living in the world. The main thinking behind this kind of move would be to stop those millionaires and billionaires who take up residence in places such as Monaco or Switzerland in order to avoid paying tax in the UK altogether.

I for one would be in favour of doing something like this in order to stop people cheating the system,. Let’s face it, if you own a business in the UK and the majority of your income comes from UK consumers, then you should have to put money back into the system by paying tax in this country and not pretending to live somewhere else so you can enjoy a tax free lifestyle. It just isn’t right.

Actually, this kind of system is not a new idea, as in the US all citizens are expected to pay taxes to the IRS, even if they are not currently living in the country or are working elsewhere. At the end of the day, if you want to enjoy the benefits of being a US citizen and you are the proud holder of a US passport, then why shouldn’t you be expected to pay into the system? If changes are made in the UK then we could soon be seeing something along the same lines.

Not everybody will be supporting these kind of changes though, and it’s not just the super rich who would against it. Contractors and freelancers who spend time working abroad could find themselves in a bad situation where they might be expected to pay income tax twice…once to the country they are working in and then again to the UK government. For somebody who doesn’t make millions, or billions, this could be a disaster and would mean earning a decent income becomes too much of a struggle.

In turn, this would discourage freelancers from seeking work outside the UK, which then leads to Britain becoming even more isolated from the EU and the rest of the world. After Brexit there are already enough people saying that we are heading in the wrong direction…and a move such as double taxation could make it even worse.

So what is the solution? Obviously, an easy way to make this kind of system fairer would be only tax UK residents living abroad that earned over a certain amount. This would surely put an end to tax dodgers living in the sun, while it would reward genuine and hard working people who are just trying to earn a decent income.

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