Higher tax rate to hit 750,000 more people
Discussion
http://www.bbc.co.uk/news/business-12321524
Great
My question is what actually counts as my salary?
My basic is £32k, but i get a £6.5k Car Allowance
Does this mean they see my salary as £38.5k or just the £32k?
Great
My question is what actually counts as my salary?
My basic is £32k, but i get a £6.5k Car Allowance
Does this mean they see my salary as £38.5k or just the £32k?
king parasites. Even more tax.
At the same time,
As was said later, we all have to pay somehow. As a pensioner I will probaly have a modest hit on net income but there's no way I can try and recover it. Shame the previous government took the controls off the banks and encouraged them to lend without due prudence, to the ultimate cost to all of us.
R.
- due to the £1000 increase in the lower limit of personal tax relief, 500,000 people will be paying less tax than at present.
- the top 10% of earners wil be having the biggest reduction in net pay.
As was said later, we all have to pay somehow. As a pensioner I will probaly have a modest hit on net income but there's no way I can try and recover it. Shame the previous government took the controls off the banks and encouraged them to lend without due prudence, to the ultimate cost to all of us.
R.
Eric Mc said:
The number of people earning enough to pay higher rate tax has been growing for decades.
http://www.telegraph.co.uk/news/2229720/Number-of-...
I can't believe that those who happen to find themselves in the 50% tax band are complaining. They either have their heads in the sand or aren't on the same planet as the majority of others. There's huge national debt to pay off and that falls on all citizens shoulders. Those who earn more should clearly contribute more in absolute terms to clear the debt. That's how it should be there isn't any other way. They can't have it both ways, shovelling it in good times and then contributing nothing in the bad times. Tough old life sometimes but it'll still be those with the least that will suffer the most in real situations such as losing their job or home. Those in the 50% tax band will suffer these ailments the least even after their "larger" contribution to correct the bad debt of the UK.
Silver993tt said:
I can't believe that those who happen to find themselves in the 50% tax band are complaining. They either have their heads in the sand or aren't on the same planet as the majority of others. There's huge national debt to pay off and that falls on all citizens shoulders. Those who earn more should clearly contribute more in absolute terms to clear the debt. That's how it should be there isn't any other way. They can't have it both ways, shovelling it in good times and then contributing nothing in the bad times. Tough old life sometimes but it'll still be those with the least that will suffer the most in real situations such as losing their job or home. Those in the 50% tax band will suffer these ailments the least even after their "larger" contribution to correct the bad debt of the UK.
tax should be 10% maxeverything else should be paid for as a service if you want that service!
SplatSpeed said:
tax should be 10% max
everything else should be paid for as a service if you want that service!
I agree with this. There needs to be a radical overhaul of the taxation system. I'd like to see us move towards a single "flat" tax. The Tories have disappointed me so far by simply fiddly with the percentages, just like Gordon Brown did. Let's have a review of the whole system.everything else should be paid for as a service if you want that service!
Fittster said:
What if you need a service and you can't afford that service?
Exactly. It's called living in a civilised soceity. Otherwise it wouldn't be much more different to a bunch of animals in a jungle. The biggest/richest would take everything and everyone would be living day by day in survival mode.Alex said:
I agree with this. There needs to be a radical overhaul of the taxation system. I'd like to see us move towards a single "flat" tax. The Tories have disappointed me so far by simply fiddly with the percentages, just like Gordon Brown did. Let's have a review of the whole system.
Why is tax so complicated?Would you be brave enough, as a politician, to simplify matters in a fair way?
I reckon you would survive a few days once you had announced your measures.
Eric Mc said:
Why is tax so complicated?
Would you be brave enough, as a politician, to simplify matters in a fair way?
I reckon you would survive a few days once you had announced your measures.
The problem with any reform is that there will always be winners and losers. If the winners are the wealthy and the losers are the poor, you would get accused of being "non-progressive". Would you be brave enough, as a politician, to simplify matters in a fair way?
I reckon you would survive a few days once you had announced your measures.
Eric Mc said:
£38.5K is your taxable salary - naturally.
You will still be below the 40% threshold.
The number of people earning enough to pay higher rate tax has been growing for decades.
I'm a little hard of thinking sometimes.You will still be below the 40% threshold.
The number of people earning enough to pay higher rate tax has been growing for decades.
Is this the reason why 38.5k is below the 40% limit?
BBC said:
The threshold for the higher-rate 40% income tax rate will be £35,001 of taxable income from April, compared with £37,401 this financial year.
Taking into account the personal allowance, an individual will start to see their income tax and National Insurance payments increase sharply when their earnings rise above £42,475[/qoute]
Taking into account the personal allowance, an individual will start to see their income tax and National Insurance payments increase sharply when their earnings rise above £42,475[/qoute]
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