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Dan Neidle Profile picture
@DanNeidle
Aug 12 • 5 tweets • 1 min read • Read on X
Just a reminder that an individual's national insurance payments do not fund their State pension.

The average person's national insurance payments cover about half the cost of their state pension: Image
The table is from the Pensions Policy Institute
pensionspolicyinstitute.org.uk/media/1crf4ox5…
This doesn't mean the state pension is unaffordable, or that it's a Ponzi scheme - it's covered by taxation on a "pay as you go" basis in the same way as every other state pension scheme in the world.
It does mean that it's wrong to think national insurance is different and special. It's just tax.
It would be more honest if national insurance was just rolled into income tax. I'd do it on a cost-neutral basis: retired people on higher incomes would pay more tax, but people of working age would see a tax cut.

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More from @DanNeidle

Dan Neidle Profile picture
Aug 10
Wealth tax advocates almost never deal with the actual objections to their proposal. There is good evidence that it will hit growth, employment and investment (particularly foreign investment).
I covered this in a thread here
And in a long analysis here, with links to all sources/references. taxpolicy.org.uk/2025/07/22/uk-…
Read 7 tweets
Dan Neidle Profile picture
Aug 6
Just announced: the UK's most famous libel firm, Carter-Ruck, is being prosecuted before the Solicitors Disciplinary Tribunal for recklessly enabling a $4bn fraud

It's astonishing how reckless Carter-Ruck was - likely causing $$$ more to be lost to fraudsters

The full story: Image
The original reporting on all this was from Ed Siddons and Matthew Valencia for The Bureau of Investigative Journalism: thebureauinvestigates.com/stories/2023-1…
We then conducted a detailed investigation and legal analysis of what Carter-Ruck did, and what they should have known at the time. I'll summarise in this thread, but way more detail here: taxpolicy.org.uk/2023/12/18/car…
Read 23 tweets
Dan Neidle Profile picture
Aug 6
Slightly surprised to discover I've been referred to the International Criminal Court in the Hague for war crimes. Image
Image
My actions are apparently comparable with the recruitment of child soldiers.

The full document: taxpolicy.org.uk/wp-content/ass…Image
This is, of course, all completely barking. It's from Iain Clifford Stamp, a "sovereign citizen" scammer who was sentenced to twelve months imprisonment last month, for completely ignoring court orders. .judiciary.uk/judgments/comm…
Read 5 tweets
Dan Neidle Profile picture
Aug 5
In 2017, a new corporate criminal offence was created: failure to prevent tax evasion. It was meant to change everything.

Since then? Zero prosecutions.

Until now... Image
HMRC is prosecuting an accounting firm, Bennett Verby Ltd, for failure to prevent facilitation of UK tax evasion, contrary to section 45 of the Criminal Finances Act (2017).
It's connected with alleged Research and Development repayment fraud. Six individuals are also being prosecuted.

All due to appear at Manchester Crown Court (Crown Square) on August 7.
Read 6 tweets
Dan Neidle Profile picture
Aug 5
In 2022, Nadhim Zahawi’s solicitor sent me a libel threat - and said I wasn’t even allowed to say he’d written to me.

The Solicitors Disciplinary Tribunal ruled that was improper.

Now he’s appealing.

A 🧵 on why it matters.
In July 2022, I wrote that I thought Nadhim Zahawi had lied about his taxes. I was right. Nadhim Zahawi lied repeatedly about his tax affairs... Image
... and continued to do so until it became public that - at the same time he was saying he'd always paid taxes in full - he was negotiating a £5m settlement with HMRC, including back-taxes plus penalties. Image
Read 13 tweets
Dan Neidle Profile picture
Aug 4
No, charging VAT on private healthcare is not a re-run of the VAT/education debate.

It wouldn't just impact 5% of the population - everyone who sees a private dentist/optician would pay more.

And it wouldn't raise £2bn. Plausibly it would lose money.

Thread Image
I'm going to ignore the political question of whether we *should* be thinking about scrapping the VAT healthcare exemption. I'll just focus on whether it works on its own terms.
Lord Kinnock's £2bn HMRC figure seems to come from the HMRC "estimated cost of structural tax reliefs" table

The figure is £2bn. So far, so good. But... gov.uk/government/sta…Image
Read 14 tweets

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