Michael Sherry

Michael is Tax Counsel and former Head at Temple Tax: advocacy - FTT to Supreme Court - advice - all tax law - OMBs - p’ships/LLP - incorporations - landlords

[Michael Sherry @MichaelSherryMA]

@DanNeidle Burnham has indicated he favours subsidiaries - decisions taken as close to the point of consequence as possible. That points to local decision taking. Will the changes following a LVT be accompanied by a redistribution of the proceeds - which level elected body will decide that

[Michael Sherry @MichaelSherryMA]

@ElonMuskPAOcXX 55

[Michael Sherry @MichaelSherryMA]

@ElonMusk_LordX 8960

[Michael Sherry @MichaelSherryMA]

@elonmuskelry HOPE

[Michael Sherry @MichaelSherryMA]

@SingularityP @DanNeidle Paul Please list your sources, thanks

[Michael Sherry @MichaelSherryMA]

@ElonMuskNews47 A

[Michael Sherry @MichaelSherryMA]

@PostOffice I checked first and your post said the system was back up. I then went into W H Smith, Macclesfield, which was open, and spoke to the lady at the back of the store at the Post Office counters- she checked her screen, confirmed that the system was still. That was 50 mins later

[Michael Sherry @MichaelSherryMA]

@DanNeidle @CutMyTaxUK @hselftax @The_Landlord @edwardtroup Indeed, but it doesn’t have CGT more than it kinda does!

[Michael Sherry @MichaelSherryMA]

@DanNeidle @hselftax @The_Landlord @edwardtroup Our ten year charge on discretionary trusts works out at 0.6% per annum maximum. It is a wealth tax and is now 50 years old, though originally it was more progressive. Failed?

[Michael Sherry @MichaelSherryMA]

@DanNeidle @hselftax @The_Landlord @edwardtroup The Swiss levy wealth taxes which are widely based and effective. As a replacement for our optional inheritance tax and mad CGT worth serious consideration. The canton of Geneva e.g. does seem to have a few things right?

[Michael Sherry @MichaelSherryMA]

@hselftax @DanNeidle @The_Landlord @edwardtroup It’s a bad tax anyway - better to abolish it and have a broadly based wealth tax at a low rate levied annually.

[Michael Sherry @MichaelSherryMA]

@Helen_Barnard Or we could abolish the awful capricious CGT and IHT and replace them with a simple wide base low threshold annual wealth tax?

[Michael Sherry @MichaelSherryMA]

@JudithFreedman Indeed, but not a matter for us tax technicians- more of a socio- economic/political question. Resolution have a political inclination as do most such organisation of various persuasions and savings rates have macro economic consequences even if there is no link to investment …

[Mia Hughes @_CryMiaRiver]

🧵Apotemnophilia

In the 90s, Dr. Robert Smith, a surgeon at Falkirk Royal Infirmary, performed leg amputations on two men. Both men were perfectly healthy but suffering from apotemnophilia, a psychiatric condition involving the desire to have healthy limbs amputated./1

[Michael Sherry @MichaelSherryMA]

@TomWitherow @thetimes is this because they knew all along, or because they should have realised right at the beginning or early on.; whatever the reason they should contribute, perhaps bearing most of the cost - taken them a while to realise the rrror of their ways?

[Michael Sherry @MichaelSherryMA]

@JudithFreedman I think Sweden abolished its estate duty/inheritance tax because the vast majority of people find it viscerally unpleasant/offensive/unfair so the statistics will never really be relevant. But a wealth tax to replace it and CGT, that’s adifferent. The Swiss work wealth taxes …

[Michael Sherry @MichaelSherryMA]

@JudithFreedman Not sure which bit of the LPA 1925 bears on the interpretation of private member club rules? I would be deleting gated if this change of heart is correct and did not agree with the original Op but which bit of the LPA had tipped MBKC over?