What do you think about earnings?

[andrewducker]

[Poll #1817753]

Comments

[danieldwilliam.livejournal.com]

A way round the issue of lumpy pay for artistic or scientific output might be base income tax on life time average earnings.

[chess]

That sounds very difficult to calculate...

[danieldwilliam.livejournal.com]

More difficult than annual assessments but I don’t think it’s any more complex than adding up your current income and then adding it to a running total.

The tax authorities already hold data for 7 years. Instead of lifetime averages we could the average of the last 5 or 10 years. We’re already treating about that amount of time as live for tax assessment purposes.

Or we could have a floor for more complex tax arrangments. If someone’s income was over £100k or £250k or £1m then they are subject to longer term averaging.