I can never work out why that is "fair"

What the Government says, goes i'm afraid matey

I can never work out why that is "fair"

 

It's fairer than in the 1970s when it was 83% at the highest rate on earned income, or 98% on investment income!

 

But nowadays the 40% rate applies to an ever increasing proportion of those paying income tax, because for the last few years the point at which it starts has been reduced to match the increase in personal allowance.

Over the next 2 years the threshold figure is supposedly going to increase at 1%, whereas the personal allowance will increase by "CPI". It has not been indicated which month's figure will be used, but September's is used for state pensions from the following April. That could be 0.5%, 2.0%, 5.0% or anything else (it was 2.7 % September 2013).

Move to Russia, there's plenty room as half of Moscow now resides in that London...

 

Gerard Depardieu will make up his spare room.

 

To be fair I think the top band taxpayers don't get the recognition they deserve for their contribution, I don't know the exact figure but the contribution level is quite high before one is a net 'contributor' compared to net 'taker' - they keep the country afloat.

 

How a lot of them 'make' their cash is a different matter.

I find that my accountant can get mine down to about 23% without too much trouble....

I find that my accountant can get mine down to about 23% without too much trouble....

I think my accountant secretly works for HMRC as it seems I keep paying more and more tax, I think it's time for a change

Those advocating it always say; "those who earn over £150,000 should pay more"

 

 

They do pay more

 

 

But the interviewer doesn't dig and they just get away with spinning their spin

I'll bet it's Viennetta after tea every night in the households of folk with such worries...

 

How the other half live eh?

 

Edited December 8, 201312 yr by Youri McAnespie

Those advocating it always say; "those who earn over £150,000 should pay more"

 

 

They do pay more

 

 

But the interviewer doesn't dig and they just get away with spinning their spin

How many of those saying they should pay more pay nothing at all?

IMO everybody should pay the same percentage of their wage.

 

It's wrong people get penalised for doing better.

IMO everybody should pay the same percentage of their wage.

It's wrong people get penalised for doing better.

IMO everybody should pay the same percentage of their wage.

It's wrong people get penalised for doing better.

I agree, I always find it strange that those who work hard and earn a decent wage get their nads taxed off

How many of those saying they should pay more pay nothing at all?

You can earn a fairly decent amount completely tax free these days. Summat like 28 hours a week at minimum wage.

 

In answer to your question, I'd say quite a lot.

 

These are the same nobs who complain that the "grovement" are stealing bastards

Edited December 8, 201312 yr by stevieb

IMO everybody should pay the same percentage of their wage.

 

It's wrong people get penalised for doing better.

Agree with that mate. I'm not sure how you'd claw back the shortfall though?

You really, really shouldn't worry about it. Anyone being paid enough to pay 50% at source will be able to afford someone to help them avoid paying as much tax as possible on investments etc.

 

As an overall percentage, they won't be paying as much as someone in the 40% band, and if they are, they deserve to for not being sneaky enough to avoid it.

Edited December 8, 201312 yr by Exiled Girl

Im sure I read somewhere that the top 20% earners pay more in tax and NI than the rest of the 80%. Pretty sure the rich pay more than their fair share as it is.

You really, really shouldn't worry about it. Anyone being paid enough to pay 50% at source will be able to afford someone to help them avoid paying as much tax as possible on investments etc.

 

As an overall percentage, they won't be paying as much as someone in the 40% band, and if they are, they deserve to for not being sneaky enough to avoid it.

 

 

That's part of my point

 

 

If income tax was fair, then big earners would be less likely to avoid it.

 

 

 

I think that it would difficult to get to a flat tax, but having more than half taken (inc NI) is morally wrong.

Im sure I read somewhere that the top 20% earners pay more in tax and NI than the rest of the 80%. Pretty sure the rich pay more than their fair share as it is.

 

The top 0.1% pay more than the bottom 15 million people.

Not sure why a flat tax would be difficult at all? It would even be progressive given we have a personal allowance. The way the 20% band is getting squeezed, we're about 10 years from a 40% flat rate system right now.

"The man who dies rich, dies disgraced..."

 

Wise words, but from whom? Karl Marx? George Orwell perhaps?

 

No, Andrew Carnegie in fact.

I'm hoping to be leaving enough for a funeral & fuck all else.

I'm hoping to be leaving enough for a funeral & fuck all else.

I've spoke to the folks about this, we're expecting nowt, but I've told them they'd best not leave us owing :-D

Given my parent's generation has created lots of rules and obligations designed to make sure they get out much more than they put in, I'm certainly expecting something back to even up the generational screw job.

Expecting? Families & wills are notoriously unpredictable.

You can earn a fairly decent amount completely tax free these days. Summat like 28 hours a week at minimum wage.

 

In answer to your question, I'd say quite a lot.

 

These are the same nobs who complain that the "grovement" are stealing bastards

About £9,500 per year.

 

There will be plenty earning just shy of that across the country that's for certain.

You really, really shouldn't worry about it. Anyone being paid enough to pay 50% at source will be able to afford someone to help them avoid paying as much tax as possible on investments etc.

 

As an overall percentage, they won't be paying as much as someone in the 40% band, and if they are, they deserve to for not being sneaky enough to avoid it.

There are quite a lot of folk who live and work in London for example who pay 50% and there are no loopholes to avoid it when they are PAYE. They are the net contributors who get shafted the most by tax.

In case you don't know, I live and work in London. As does my partner. We neither of us earn enough to pay 45% tax (for that is the higher rate, not 50%). And we've both got enough to put some aside, into pensions and savings. And I repeat, anyone earning over £150k will know how to reduce their tax bill. Not all income earned is taxable. Don't worry about the £150K plus earners.