David Wren

Occasional twitter user, tax geek and poster of average photos

[David Wren @david_wren]

@DanNeidle This is a bit different from wealth tax - it’s an investment and capital gains tax but not as we know it.

‘Box 3’ tax is based on an imputed rate of return on assets. You pay tax on that each year, and then no CGT on disposal.

So really an income tax.

[David Wren @david_wren]

@MartinSLewis https://t.co/ksur0RZM1y

[David Wren @david_wren]

@MartinSLewis Because they are calculated on a different basis, there are winners and losers from alignment. People with multiple jobs would lose out, whilst part-time workers would benefit. You wouldn’t design it this way, but real risk that certain groups on low income lose out.

[David Wren @david_wren]

Hey @IKEAUK - your lakeside store rejected a load of furniture to be returned and refused to recycle or dispose of. Are they wrong or is your website wrong?

Wouldn’t have considered returning it to you if I knew this was untrue.

[David Wren @david_wren]

@hackloon Because they’re calculated differently, changing NI for IT has significant impact for people on lower incomes - part-time/seasonal workers gain but people working multiple jobs lose out. The OTS report on this was v.good but would require a lot of political capital to implement.

[David Wren @david_wren]

- it’s part of a globally agreed programme targeting tax evasion which includes the EU, Canada, Australia and many more:

https://t.co/7eOt24RGdF

[David Wren @david_wren]

A scream into the wind - but in case it helps someone sleep easier:

- the tax rules aren’t changing. If you didn’t owe tax before, you don’t now
- digital platforms will share information on sellers with HMRC
- selling a few things for a little money won’t be reported at all

[Sky News @SkyNews]

A "side hustle tax" has come into force - targeting Britons who sell second-hand goods online or let out their spare rooms

🔗 Read more

https://t.co/VxhP1MlP11

[David Wren @david_wren]

- even if you are reported, that doesn’t automatically mean you owe tax
- you likely won’t owe tax if you sell second hand clothes after you’ve used them. You might owe tax if you are running a business (trading) or if you sell something big and owe capital gains tax

[David Wren @david_wren]

@SkyNews Hi @SkyNews - this is really misleading. Rules on the taxes people pay are completely unchanged. These rules only require reporting by digital platforms and don’t change the tax position of the sellers. Lot of people seem to be worried about this - perhaps you could clarify.

[David Wren @david_wren]

@christiancalgie The marginal rate if you’re in England and Wales is 71%. The problem isn’t particularly Scotland but badly designed income tax bands in general. Only applies in the £100k-£130k bracket.

[The Labour Party @UKLabour]

The longer the Tories are in power, the longer patients will wait.

[David Wren @david_wren]

@Samfr Government’s Housing Survey seems to confirm the broad numbers, median lower than mean. But Sunak is either modelling a 2.5%-3% average increase or they’re switching from mean before to median after? Or they’re assuming people extend the length of mortgage to keep payments down?

[David Wren @david_wren]

@Samfr Average mortgage amounts are lower than you might expect - about £140k. But that would still be more like £400 a month. So probably messing around with ‘average’ to mean median or modal?

[Ed Yong is not here @edyong209]

🛑I wrote about what “fatigue” really means for people with long COVID and ME/CFS, and why this profoundly debilitating symptom is so often misunderstood and trivialized.

(This piece also covers PEM.) 1/

https://t.co/oFWb6Flyh0

[David Wren @david_wren]

@DanNeidle …relevant given the focus in the Budget on expanding the number of people in work.

[David Wren @david_wren]

@DanNeidle & the threshold applies where either parent earns £100k, so it acts as a disincentive for the lower earning parent to work - the cost of childcare vs their salary (which you could think of as the marginal additional income for the household) looks very high…

[David Wren @david_wren]

@edyong209 I’ve had brain fog for 10 years (ME/CFS) and this is the first time I’ve felt understood since it started - the symptoms, the effects on life, the coping strategies, everything. Thank you for writing this, it means a great deal to me.

[TheUPGarden @TheUPGarden]

Drop in to our Community Gardening Day, this Sunday 21 August 10am-1pm! 🌱💚

Help us get ready for launch with some basic gardening. No experience necessary; tools provided.

Entrance between 1-4 & 5-10 Eric Close E7 0AY. https://t.co/G6fsDBJWXM

[David Wren @david_wren]

@McDonaldsUK hey - how do I get your restaurant (Forest Gate) to pick up the phone? I just found someone’s blood covered plaster in my burger.

[David Wren @david_wren]

@waitrose there's a bug in your Quick Check app. I was 'randomly selected' for a check - but by the time I had found someone to help, the app had closed the QR code, meaning I had to tip out everything and rescan (Android)