Top 5 financial things to do before labour get in?
Discussion
NorthernUproar said:
This thread is totally incoherent. The current Uk tax burden is the highest it has been in 70 years. Despite this, public services are broken and the Thatcherite dream of privatisation has been proven to fatally flawed. So much so even the conservatives are talking of privatisation.
Yet despite this you believe that things will get worse for you under labour who btw also reduced effective tax rates overall from John Majors government. So your argument that labour = bad is wrong.
In a simple guy, I grew up in a council house and through free tuition fees went to university, built a business and retired at the age of 37. I’ve paid more in tax already than most folk will do in a life time. I’m not a non-dom, I love this country and want it to be good so so much, far more than those folk with flushed red faces who shout about loving our country loudly and regularly. though I could have been a non-dom, I don’t begrudge a penny in the taxes I paid.
To me it’s a simple choice, are you decent or are you a bit of a sh@t. Even if you’re a bit of a sh@t you surely want things to be better than they are. Because they’re largely crap here now. I can’t blame immigrants, half a dozen daft lads in a boat from Calais, Ukraine or Covid. It’s the chronic underfunding followed by latter crude and poor decision making in crisis funding for our education system, social services, health service, justice and infrastructure that we can blame. They’ve broken them all.
The “no money left” by the way is a treasury tradition that civil servants leave at the end of every government for the incoming portfolio holders. HMRC are already onto the private school fees ruse btw and I’m not aware of a single credible public school that are offering it. See Dan Niedle on the topic.
Well said.Yet despite this you believe that things will get worse for you under labour who btw also reduced effective tax rates overall from John Majors government. So your argument that labour = bad is wrong.
In a simple guy, I grew up in a council house and through free tuition fees went to university, built a business and retired at the age of 37. I’ve paid more in tax already than most folk will do in a life time. I’m not a non-dom, I love this country and want it to be good so so much, far more than those folk with flushed red faces who shout about loving our country loudly and regularly. though I could have been a non-dom, I don’t begrudge a penny in the taxes I paid.
To me it’s a simple choice, are you decent or are you a bit of a sh@t. Even if you’re a bit of a sh@t you surely want things to be better than they are. Because they’re largely crap here now. I can’t blame immigrants, half a dozen daft lads in a boat from Calais, Ukraine or Covid. It’s the chronic underfunding followed by latter crude and poor decision making in crisis funding for our education system, social services, health service, justice and infrastructure that we can blame. They’ve broken them all.
The “no money left” by the way is a treasury tradition that civil servants leave at the end of every government for the incoming portfolio holders. HMRC are already onto the private school fees ruse btw and I’m not aware of a single credible public school that are offering it. See Dan Niedle on the topic.
I disagree in my particular case only.
2 income household. Both PAYE.
Joint income around £200k pa. Both earning about the same.
The 45% tax rate seen in Scotland will almost certainly come here. Inflation will rise as Labour will spend.
Fiscal drag will be as damaging as any deliberate policy.
PAYE ‘high earners’ are the easy cash grab for a government of any stripe. I’m not hopeful.
2 income household. Both PAYE.
Joint income around £200k pa. Both earning about the same.
The 45% tax rate seen in Scotland will almost certainly come here. Inflation will rise as Labour will spend.
Fiscal drag will be as damaging as any deliberate policy.
PAYE ‘high earners’ are the easy cash grab for a government of any stripe. I’m not hopeful.
Whilst I appreciate all the views on and off the topic does anyone actually have any good ideas ?
Re the private school thing, pretty much every private school has always allowed you to pay 2(ish) years upfront.
Obviously what you can’t do is set up a scheme to avoid tax / vat on the the long term.
Phib
Re the private school thing, pretty much every private school has always allowed you to pay 2(ish) years upfront.
Obviously what you can’t do is set up a scheme to avoid tax / vat on the the long term.
Phib
NorthernUproar said:
This thread is totally incoherent. The current Uk tax burden is the highest it has been in 70 years. Despite this, public services are broken and the Thatcherite dream of privatisation has been proven to fatally flawed. So much so even the conservatives are talking of privatisation.
Yet despite this you believe that things will get worse for you under labour who btw also reduced effective tax rates overall from John Majors government. So your argument that labour = bad is wrong.
In a simple guy, I grew up in a council house and through free tuition fees went to university, built a business and retired at the age of 37. I’ve paid more in tax already than most folk will do in a life time. I’m not a non-dom, I love this country and want it to be good so so much, far more than those folk with flushed red faces who shout about loving our country loudly and regularly. though I could have been a non-dom, I don’t begrudge a penny in the taxes I paid.
To me it’s a simple choice, are you decent or are you a bit of a sh@t. Even if you’re a bit of a sh@t you surely want things to be better than they are. Because they’re largely crap here now. I can’t blame immigrants, half a dozen daft lads in a boat from Calais, Ukraine or Covid. It’s the chronic underfunding followed by latter crude and poor decision making in crisis funding for our education system, social services, health service, justice and infrastructure that we can blame. They’ve broken them all.
The “no money left” by the way is a treasury tradition that civil servants leave at the end of every government for the incoming portfolio holders. HMRC are already onto the private school fees ruse btw and I’m not aware of a single credible public school that are offering it. See Dan Niedle on the topic.
A refreshing post.Yet despite this you believe that things will get worse for you under labour who btw also reduced effective tax rates overall from John Majors government. So your argument that labour = bad is wrong.
In a simple guy, I grew up in a council house and through free tuition fees went to university, built a business and retired at the age of 37. I’ve paid more in tax already than most folk will do in a life time. I’m not a non-dom, I love this country and want it to be good so so much, far more than those folk with flushed red faces who shout about loving our country loudly and regularly. though I could have been a non-dom, I don’t begrudge a penny in the taxes I paid.
To me it’s a simple choice, are you decent or are you a bit of a sh@t. Even if you’re a bit of a sh@t you surely want things to be better than they are. Because they’re largely crap here now. I can’t blame immigrants, half a dozen daft lads in a boat from Calais, Ukraine or Covid. It’s the chronic underfunding followed by latter crude and poor decision making in crisis funding for our education system, social services, health service, justice and infrastructure that we can blame. They’ve broken them all.
The “no money left” by the way is a treasury tradition that civil servants leave at the end of every government for the incoming portfolio holders. HMRC are already onto the private school fees ruse btw and I’m not aware of a single credible public school that are offering it. See Dan Niedle on the topic.
I am a lifelong Labour supporter but I am nervous that people will expect absolute miracles when they win and will soon forget the Tory mistakes and lo and behold four years time people will vote the tories back in.
Having said that, like all political parties Labour are far from perfect. I just hope they're sensible with the military.
It will be interesting to see what happens.
b
hstewie said:
hstewie said:NorthernUproar said:
This thread is totally incoherent. The current Uk tax burden is the highest it has been in 70 years. Despite this, public services are broken and the Thatcherite dream of privatisation has been proven to fatally flawed. So much so even the conservatives are talking of privatisation.
Yet despite this you believe that things will get worse for you under labour who btw also reduced effective tax rates overall from John Majors government. So your argument that labour = bad is wrong.
In a simple guy, I grew up in a council house and through free tuition fees went to university, built a business and retired at the age of 37. I’ve paid more in tax already than most folk will do in a life time. I’m not a non-dom, I love this country and want it to be good so so much, far more than those folk with flushed red faces who shout about loving our country loudly and regularly. though I could have been a non-dom, I don’t begrudge a penny in the taxes I paid.
To me it’s a simple choice, are you decent or are you a bit of a sh@t. Even if you’re a bit of a sh@t you surely want things to be better than they are. Because they’re largely crap here now. I can’t blame immigrants, half a dozen daft lads in a boat from Calais, Ukraine or Covid. It’s the chronic underfunding followed by latter crude and poor decision making in crisis funding for our education system, social services, health service, justice and infrastructure that we can blame. They’ve broken them all.
The “no money left” by the way is a treasury tradition that civil servants leave at the end of every government for the incoming portfolio holders. HMRC are already onto the private school fees ruse btw and I’m not aware of a single credible public school that are offering it. See Dan Niedle on the topic.
Well said.Yet despite this you believe that things will get worse for you under labour who btw also reduced effective tax rates overall from John Majors government. So your argument that labour = bad is wrong.
In a simple guy, I grew up in a council house and through free tuition fees went to university, built a business and retired at the age of 37. I’ve paid more in tax already than most folk will do in a life time. I’m not a non-dom, I love this country and want it to be good so so much, far more than those folk with flushed red faces who shout about loving our country loudly and regularly. though I could have been a non-dom, I don’t begrudge a penny in the taxes I paid.
To me it’s a simple choice, are you decent or are you a bit of a sh@t. Even if you’re a bit of a sh@t you surely want things to be better than they are. Because they’re largely crap here now. I can’t blame immigrants, half a dozen daft lads in a boat from Calais, Ukraine or Covid. It’s the chronic underfunding followed by latter crude and poor decision making in crisis funding for our education system, social services, health service, justice and infrastructure that we can blame. They’ve broken them all.
The “no money left” by the way is a treasury tradition that civil servants leave at the end of every government for the incoming portfolio holders. HMRC are already onto the private school fees ruse btw and I’m not aware of a single credible public school that are offering it. See Dan Niedle on the topic.
The idea that the current Conservative party are fiscally prudent is, frankly, insane. They are an utterly busted flush.
We're not in a good position, so we'll see what Labour can do if they get in, but they're certainly not inheriting a war chest like 1997.
NorthernUproar said:
This thread is totally incoherent. The current Uk tax burden is the highest it has been in 70 years. Despite this, public services are broken and the Thatcherite dream of privatisation has been proven to fatally flawed. So much so even the conservatives are talking of privatisation.
Yet despite this you believe that things will get worse for you under labour who btw also reduced effective tax rates overall from John Majors government. So your argument that labour = bad is wrong.
In a simple guy, I grew up in a council house and through free tuition fees went to university, built a business and retired at the age of 37. I’ve paid more in tax already than most folk will do in a life time. I’m not a non-dom, I love this country and want it to be good so so much, far more than those folk with flushed red faces who shout about loving our country loudly and regularly. though I could have been a non-dom, I don’t begrudge a penny in the taxes I paid.
To me it’s a simple choice, are you decent or are you a bit of a sh@t. Even if you’re a bit of a sh@t you surely want things to be better than they are. Because they’re largely crap here now. I can’t blame immigrants, half a dozen daft lads in a boat from Calais, Ukraine or Covid. It’s the chronic underfunding followed by latter crude and poor decision making in crisis funding for our education system, social services, health service, justice and infrastructure that we can blame. They’ve broken them all.
The “no money left” by the way is a treasury tradition that civil servants leave at the end of every government for the incoming portfolio holders. HMRC are already onto the private school fees ruse btw and I’m not aware of a single credible public school that are offering it. See Dan Niedle on the topic.
I begrudge the taxes I pay. Like you I’ve paid a fortune into the system but for my money I still cannot get in to see a GP for 2 weeks or find an NHS dentist. I have to wait for 12 hours in A&E and I can’t get the police to come out for love nor money. I have to pay for all of those services privately including schools.Yet despite this you believe that things will get worse for you under labour who btw also reduced effective tax rates overall from John Majors government. So your argument that labour = bad is wrong.
In a simple guy, I grew up in a council house and through free tuition fees went to university, built a business and retired at the age of 37. I’ve paid more in tax already than most folk will do in a life time. I’m not a non-dom, I love this country and want it to be good so so much, far more than those folk with flushed red faces who shout about loving our country loudly and regularly. though I could have been a non-dom, I don’t begrudge a penny in the taxes I paid.
To me it’s a simple choice, are you decent or are you a bit of a sh@t. Even if you’re a bit of a sh@t you surely want things to be better than they are. Because they’re largely crap here now. I can’t blame immigrants, half a dozen daft lads in a boat from Calais, Ukraine or Covid. It’s the chronic underfunding followed by latter crude and poor decision making in crisis funding for our education system, social services, health service, justice and infrastructure that we can blame. They’ve broken them all.
The “no money left” by the way is a treasury tradition that civil servants leave at the end of every government for the incoming portfolio holders. HMRC are already onto the private school fees ruse btw and I’m not aware of a single credible public school that are offering it. See Dan Niedle on the topic.
Now if someone wants to come back for more of my earnings then of course I’m not thrilled about it.
I wouldn’t be so quick to overlook Covid. We absolutely haemorrhaged money during that period and it was absolutely pointless waste.
Stick Legs said:
The 45% tax rate seen in Scotland will almost certainly come here. .
I’m watching with interest to see what will happen if we get Labour in power North & South of the border.Up North we’ve 6 tax bands & lower threshold or two
On salary’s of about £100k there’s a currently about a £4K difference in tax.
Stick Legs said:
I disagree in my particular case only.
2 income household. Both PAYE.
Joint income around £200k pa. Both earning about the same.
The 45% tax rate seen in Scotland will almost certainly come here. Inflation will rise as Labour will spend.
Fiscal drag will be as damaging as any deliberate policy.
PAYE ‘high earners’ are the easy cash grab for a government of any stripe. I’m not hopeful.
Like the quotes around ‘high earners’….with an implication that a couple on £200k aren’t, or indeed one person on £100k isn’t.2 income household. Both PAYE.
Joint income around £200k pa. Both earning about the same.
The 45% tax rate seen in Scotland will almost certainly come here. Inflation will rise as Labour will spend.
Fiscal drag will be as damaging as any deliberate policy.
PAYE ‘high earners’ are the easy cash grab for a government of any stripe. I’m not hopeful.
Peak Pistonheads
Average salaries across the UK are under £30k. https://starkvisas.com/uk-immigration/average-sala...
mikeiow said:
Stick Legs said:
I disagree in my particular case only.
2 income household. Both PAYE.
Joint income around £200k pa. Both earning about the same.
The 45% tax rate seen in Scotland will almost certainly come here. Inflation will rise as Labour will spend.
Fiscal drag will be as damaging as any deliberate policy.
PAYE ‘high earners’ are the easy cash grab for a government of any stripe. I’m not hopeful.
Like the quotes around ‘high earners’….with an implication that a couple on £200k aren’t, or indeed one person on £100k isn’t.2 income household. Both PAYE.
Joint income around £200k pa. Both earning about the same.
The 45% tax rate seen in Scotland will almost certainly come here. Inflation will rise as Labour will spend.
Fiscal drag will be as damaging as any deliberate policy.
PAYE ‘high earners’ are the easy cash grab for a government of any stripe. I’m not hopeful.
Peak Pistonheads
Average salaries across the UK are under £30k. https://starkvisas.com/uk-immigration/average-sala...
“Full-time workers in England and Wales are earning a median weekly salary of £682 gross, translating to an annual pre-tax income of more than £38,000 which is an impressive 6.2% surge from 2022.”
NorthernUproar said:
This thread is totally incoherent. The current Uk tax burden is the highest it has been in 70 years. Despite this, public services are broken and the Thatcherite dream of privatisation has been proven to fatally flawed. So much so even the conservatives are talking of privatisation.
Yet despite this you believe that things will get worse for you under labour who btw also reduced effective tax rates overall from John Majors government. So your argument that labour = bad is wrong.
In a simple guy, I grew up in a council house and through free tuition fees went to university, built a business and retired at the age of 37. I’ve paid more in tax already than most folk will do in a life time. I’m not a non-dom, I love this country and want it to be good so so much, far more than those folk with flushed red faces who shout about loving our country loudly and regularly. though I could have been a non-dom, I don’t begrudge a penny in the taxes I paid.
To me it’s a simple choice, are you decent or are you a bit of a sh@t. Even if you’re a bit of a sh@t you surely want things to be better than they are. Because they’re largely crap here now. I can’t blame immigrants, half a dozen daft lads in a boat from Calais, Ukraine or Covid. It’s the chronic underfunding followed by latter crude and poor decision making in crisis funding for our education system, social services, health service, justice and infrastructure that we can blame. They’ve broken them all.
The “no money left” by the way is a treasury tradition that civil servants leave at the end of every government for the incoming portfolio holders. HMRC are already onto the private school fees ruse btw and I’m not aware of a single credible public school that are offering it. See Dan Niedle on the topic.
I didn't base my recommendation on any concept of "labour=bad" - it's purely based on the premise that after a change in leadership, the party newly in charge tries to make a few statement changes, and the LTA / TFLS are definitely something that is on the radar and whilst they probably can't re-introduce the LTA because of the impact to highly paid NHS workers, the TFLS is an easier target.Yet despite this you believe that things will get worse for you under labour who btw also reduced effective tax rates overall from John Majors government. So your argument that labour = bad is wrong.
In a simple guy, I grew up in a council house and through free tuition fees went to university, built a business and retired at the age of 37. I’ve paid more in tax already than most folk will do in a life time. I’m not a non-dom, I love this country and want it to be good so so much, far more than those folk with flushed red faces who shout about loving our country loudly and regularly. though I could have been a non-dom, I don’t begrudge a penny in the taxes I paid.
To me it’s a simple choice, are you decent or are you a bit of a sh@t. Even if you’re a bit of a sh@t you surely want things to be better than they are. Because they’re largely crap here now. I can’t blame immigrants, half a dozen daft lads in a boat from Calais, Ukraine or Covid. It’s the chronic underfunding followed by latter crude and poor decision making in crisis funding for our education system, social services, health service, justice and infrastructure that we can blame. They’ve broken them all.
The “no money left” by the way is a treasury tradition that civil servants leave at the end of every government for the incoming portfolio holders. HMRC are already onto the private school fees ruse btw and I’m not aware of a single credible public school that are offering it. See Dan Niedle on the topic.
Also - please don't assume I'm a Tory voter - I'm not. Never have been, never will be.
56 and retired, I have no intention of touching my tax free sum.
God I hope I don’t fk this up 
I think we need a change of leadership, if only to prove that it makes bugger all difference and that’s from a life long Tory voter.
Ps I’ve paid a st tonne in tax and I’d happily have paid more IF it actually went to making a difference rather being wasted.
God I hope I don’t f
k this up I think we need a change of leadership, if only to prove that it makes bugger all difference and that’s from a life long Tory voter.
Ps I’ve paid a s
t tonne in tax and I’d happily have paid more IF it actually went to making a difference rather being wasted. Paying school fees is a strain on budget, but the alternative is pretty dire where I am.
Adding another 20% could result in me (and a number of other parents I have spoken to) pulling their kids out of school.
Paying as much as I can upfront does seem a sensible idea. This is one that I will be discussing with the school.
Adding another 20% could result in me (and a number of other parents I have spoken to) pulling their kids out of school.
Paying as much as I can upfront does seem a sensible idea. This is one that I will be discussing with the school.
Simpo Two said:
And when they took over from Labour in 2010 they found a note in a drawer saying 'There's no money left, good luck'.
Before blaming everything on Truss's brief tenure, as Labour does because it suits them and fools believe it, let's not forget that little pandemic thing:
'Current estimates of the total cost of government Covid-19 measures range from about £310 billion to £410 billion. This is the equivalent of about £4,600 to £6,100 per person in the UK.'
https://commonslibrary.parliament.uk/research-brie...
Everybody loved Rishi when he was printing money to give to people. But they squeal when it's payback time.
And as for inflation, https://www.knightfrank.com/research/article/2023-...
So, two massive clobberings that would have knackered any government's plans.
I don't think any government is going to halt the UK's decline. That would take things that people won't vote for, so we'll just get more shiny politicians making promises they can't keep and demanding 'change'...
The government decided to do all the covid stuff which has put the country into a bad financial place. They didn’t have to do that. Their reaction to it is what has caused the problem, not the thing itself. However labour would’ve done the same, if not worse. It was a complete overreaction and has only really succeeded in making some people very rich at everyone else’s expense. Before blaming everything on Truss's brief tenure, as Labour does because it suits them and fools believe it, let's not forget that little pandemic thing:
'Current estimates of the total cost of government Covid-19 measures range from about £310 billion to £410 billion. This is the equivalent of about £4,600 to £6,100 per person in the UK.'
https://commonslibrary.parliament.uk/research-brie...
Everybody loved Rishi when he was printing money to give to people. But they squeal when it's payback time.
And as for inflation, https://www.knightfrank.com/research/article/2023-...
So, two massive clobberings that would have knackered any government's plans.
I don't think any government is going to halt the UK's decline. That would take things that people won't vote for, so we'll just get more shiny politicians making promises they can't keep and demanding 'change'...
Cupid-stunt said:
Paying school fees is a strain on budget, but the alternative is pretty dire where I am.
Adding another 20% could result in me (and a number of other parents I have spoken to) pulling their kids out of school.
Paying as much as I can upfront does seem a sensible idea. This is one that I will be discussing with the school.
Tarquin may have to HTFU Adding another 20% could result in me (and a number of other parents I have spoken to) pulling their kids out of school.
Paying as much as I can upfront does seem a sensible idea. This is one that I will be discussing with the school.
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