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Simon Pegg, Pitchforks & Patriotic Payments

Author

Andy Wood

Andy is a practical, creative tax adviser who assists a variety of clients in achieving their personal and commercial objectives in the most tax efficient manner.

Interesting to see Simon Pegg – of Big Train, Hot Fuzz and Mission Impossible fame – insisting that millionaires, like him, should pay more tax.

This would be used to tackle inequality.

The actor has added his name to a magnificently named band of celebs called Millionaires Against Pitchforks. On their website, they state:

There are two kinds of wealthy people in the world: those who prefer taxes and those who prefer pitchforks. We, the undersigned, prefer taxes. And we believe that, upon reflection, you will as well.

They have released a letter –  has also been signed by Love Actually writer Richard Curtis and justice baron Richard Reed – to coincide with the Davos Economic Forum to presumably to provoke action.

However, does Mr Pegg need to wait for the global elite to make a move on this?

Or could he take his own steps to pay more tax?

For millionaires like Simon Pegg who might say they would ‘gladly pay more tax’ then there is a way.

Of a fashion.

Patriotic Payments & Voluntary Tax Payments

They could make what is known as ‘Patriotic Payments’ which are voluntary payments which are used to pay down the enormous national debt.

According to the figures released last year by a relatively obscure branch of government known as the Debt Management Office, around 200 such payments totalling £8.3 million have been made since the turn of the century.

Evidently, making voluntary tax contributions does not appear a very popular course of action!

But is this because the payments are used to service the national debt? Perhaps, the feeling this is chucking cash down a black hole?

What if the payments went in to the general pot?

What if one could choose how the payments were used? For example:

  • fund the NHS?
  • fund national health services?
  • environmental causes?
  • Social care

Would this make a difference? Would you pay more tax?

If you have any queries about this article about Simon Pegg’s tax crusade or any other tax matters then please get in touch.

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