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Cap income tax at £100,000 to vastly increase tax revenue

Submitted on Friday 9th March 2012

Published on Monday 12th March 2012

Current status: Closed

Closed: Tuesday 12th March 2013

Signatures: 2

Tagged with

income tax ~ Individuals ~ Money ~ Tax ~ UK

Petition Action

Cap income tax at £100,000 to vastly increase tax revenue

Additional Information

I would like the government to put a cap on income tax, whereby the maximum any individual would pay on their earnings would be £100,000 per annum. £100,000 is enough for anyone to contribute, and many people who now hide their wealth overseas or use tax loopholes would willingly contribute this amount. Bringing in such a cap would result in a huge number of individuals already in the country and from overseas declaring their incomes, thereby generating vast sums for the government, who could then raise the tax-free allowance for everybody. This would benefit the lower paid earners. I believe that millionaires the world over would be queuing up to deposit their money in the UK and pay the £100,000.


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