!!!!!! - Clown to raise the top rate of tax to 45%

mitchaa

stephen163 wrote: »

Talking as someone from within the industry (MEng degree, worked for FTSE 25 Utility company), I think you are grossly underestimating the difficulty of earning such a high salary in any engineering field. Nobody but nobody earns £50k at age 25 as a practising engineer. You work your way up slowly but surely.

The people making the big money are probably those one-offs with a specific set of skills. Which field are the people you know earnign £50k at 25 working in? I would like to know why they are earning more than managers with 25 years experience in industry benchmarked jobs.

Oil and gas industry
Aviation industry

I work in both, mix and match from each.

I am not a chartered engineer, i am licensed though. (Never been to uni)

A £50k job offshore is quite easily attainable, in fact most engineering jobs offshore offer salaries in excess of these amounts. My younger cousin has just recently finished his ROV tech/pilots course, he is 21 yrs old and has just secured a £47k ROV job offshore. With 5yrs experience in the role he will be offered day rates of £500pd (£91k)

Do a bit of research into oil and gas and aviation (licensed aircraft engineers) and i think you'll find that these salaries are easily on offer especially in this part of the country. (Aberdeen)

Just to prove my point...

http://www.aviationjobsearch.com/employer.asp?employerid=2756&vacID=141654

http://www.aviationjobsearch.com/employer.asp?employerid=2756&vacID=140957

http://www.aviationjobsearch.com/employer.asp?employerid=134&vacID=141806

Similar roles to what i do now aged 25

And i havent even covered the offshore rates..

http://www.aviationjobsearch.com/employer.asp?employerid=134&vacID=140283

£500day x 14 x 13 = £91k.

The 2 guys that are already on the offshore platform in the above are both under the age of 30.

Mitchaa

Pennywise

godsakes wrote: »

if someone earns enough to be paying this new higher tax band (£150k!!). They'll have a hard time convincing me, they can't afford to live in the UK :rotfl:.

That's not the point though is it. The point is whether they could earn the same or more abroad and pay less tax. Take actors, sportsmen, etc who move abroad for tax reasons. Of course they could "afford" to live in the UK - but they can save thousands in tax if they live in say Switzerland instead. I'm seeing more and more of my clients move abroad, typically to Canada or Australia. I've seen four familites emigrate this year alone, whereas it is usually just one or two. These aren't multi-millionaires, they tend to be city workers, IT consultants, etc., earning £100-£200k p.a. I'm sure it would be better that they stayed in the UK and paid less direct tax, thus enabling them to spend in the UK, rather than them moving abroad and the UK getting nothing from them.

stephen163

SALARY
An Unlicensed Aircraft Maintenance Engineer would normally earn between
£15,000 and £19,500 per annum.
Licensed Engineers employed in the field of general aviation will earn between
£18,000 and £25,000 per annum.
A Licensed Engineer working in avionics, and employed by a major airline can
expect to earn between £25,000 - £38,000 per annum.

Taken from...
http://www.bia.homeoffice.gov.uk/sitecontent/documents/policyandlaw/businessandcommercialoccsheet/aircraftengineers.pdf?view=Binary

If the above is true, I find it really hard to believe a 21 year old has been offered £47k (rising to £91k).

The jobs you posted in the links offered a salary of £50-60k and required several years experience. For instance, the second one stated: "Will have several years experience in a technical services/continuing airworthiness management-engineering role". These are not entry level jobs, they are jobs for established engineers.

I guess there is a massive bonus for working out on a rig, though I would argue this is not related to the skill of the engineer rather it is the willingness to take the risk.

napoleon

Good news. I'd have put it up to at least 50% myself. And there should be a special 60% rate for buy-to-let speculators

Conrad

Lets not forget plenty of lefties are fat cats;

Tony Benn - home in Holland park worth millions + pensions

Rory Bremnar

Ben Elton

Sting

Piers Morgan

Victor Meldrew (cant recall real name)

Kieth Vass (owns 6 properties - good ole redistributive socialism eh)

Kirsty Walk (News night), earned £400k from a few hours consultancy for the Scots Parliament building

Ken Loach

Duffle coated leftie Donald Deward dies leaving £3m in shares + property etc

Shirley Williams - lives near me - massive amount of wealth

mitchaa

stephen163 wrote: »

SALARY
An Unlicensed Aircraft Maintenance Engineer would normally earn between
£15,000 and £19,500 per annum.
Licensed Engineers employed in the field of general aviation will earn between
£18,000 and £25,000 per annum.
A Licensed Engineer working in avionics, and employed by a major airline can
expect to earn between £25,000 - £38,000 per annum.

Taken from...
http://www.bia.homeoffice.gov.uk/sitecontent/documents/policyandlaw/businessandcommercialoccsheet/aircraftengineers.pdf?view=Binary

If the above is true, I find it really hard to believe a 21 year old has been offered £47k (rising to £91k).

The jobs you posted in the links offered a salary of £50-60k and required several years experience. For instance, the second one stated: "Will have several years experience in a technical services/continuing airworthiness management-engineering role". These are not entry level jobs, they are jobs for established engineers.

A quick google is not research, the information is rubbish. Just take a look at aviationjobsearch.com for a better picture.

I will not argue with you, i know what we are paid:rolleyes:

The roles are not for established engineers, they are for experienced engineers. I started my career at 16, i now have 9 yrs experience, believe me that is enough to get into these roles.

Oh and check the other 2 links, the only requirements are to have a B1 engineers license. Salary of £53k.

You honestly think the pay would rocket from your linked claim of £25k:rolleyes: upto £91k for just going offshore:rolleyes: Are you not supposed to be clever being a chartered engineer?

Licensed AC engineers in Aberdeen are earning between £45-70k onshore and as you noticed from my link above £90k+ offshore.

Do not dig a hole for yourself thinking you know the industry. You really think licensed aircraft engineers and their responsibilities for hundreds of lives would be earning £25k:rolleyes:

How about phoning the 3 big companies up here (Bristows, Bond, CHC, to ask them the going rates of licensed engineers, ill even give you the phone numbers )

On the other point...

You calling me a liar? You are finding it hard to believe offshore ROV techs are earning £47k or just the fact a 21yr old secured this position:rolleyes:

Have you perhaps got a chip on your shoulder that the £1k per age year is as outdated as a rover 200?

As for my cousin and the ROV course, this is where he attended, you can phone up and ask how much typical starting salaries are...

http://www.theunderwatercentre.co.uk/rov.asp

Will not argue with you any longer, the old £1k/age year is now £2k/age year for the younger generations of engineers.

lostinrates

Dithering_Dad wrote: »

I don't understand your post, lir. Why would a tax on people who earn over £150k cause you to want to leave the country?

If your OH earns £40k, he's still got a while to go before this will impact him. Given that we all get a £5k tax free allowance and that most people who earn that sort of cash will also contribute to a pension plan (let's say at 10% of their income - so £15k), someone will have to earn over £170k before this tax would impact them.

Plus it's only an extra 5% on their earnings over £170. So for someone earning £200k, they would pay an additional £1500 in tax. Hardly likely to force hordes of business leader, surgeons, IT Contractors or other high earners out of the county.

DH earns 40k from his job this year. Our extra income for this year..if it comes through, has been delayed twice now (a one off payment) risks taking us close to the limit (depending on when and if and exchange rates) In 2010 DH qualifies, his annual earnings increase and with in a few years would hopefully have reached that sort of amount...BUT thats not our main concern. DH's work relies on corporations wanting to work within UK. We, i.e. London, have been a wonderful strategic point to interact with EU from Far East, Middle East and US of A for some time, but this is increasingly bing tested, not just by things like this, but by the constant onslaught of new regulation. Also, corporations, many of them, like their employees to be happy. :rolleyes: , e.g. DHs international employers pay the same payscale internationally, the idea being an employee in any country gets roughly the same quality of life, UK is becoming increasing difficult to sustain on this level. Its quite likely that some business will leave UK in the future year, plus the clients lost already in the crunch....one wonders how many employees DH's mployers, will want in UK. If this concerns DH its likely its concerning clients of DH too.

godsakes

Pennywise wrote: »

I'm sure it would be better that they stayed in the UK and paid less direct tax, thus enabling them to spend in the UK, rather than them moving abroad and the UK getting nothing from them.

The UK is already a relatively low taxed country, i'm not in favour of chasing the ultra rich by ultra low direct tax. As it means the only way of extracting any real tax from these people is via larger indirect taxes like VAT which represent a huge social injustice and a ever increasing wealth divde and past a certain point it'll cause social unrest.

matthewcb

Why is it that whenever's there's tax rises, this sudden mass exodus is threatened? I seem to remember 'celebrities' such as Frank Bruno and Paul Daniels were going to leave if Labour won an election, but they're still here... just like all the people threatening to go will stay here.

Besides, where are they all going to go? Do they not think the indigenous populations of these countries might already have enough 'brains'?

Are they really going to leave friends and family behind because of money?

lostinrates

beingjdc wrote: »

If you are a specialist in law, accounting, or at the top of the tree in the public sector, your skills and knowledge are quite UK-specific, so leaving will be a bit of a wrench, if not impossible.
.

DH works in law. By 2010 he will be qualified in three juristictions, he can practise in any on of those areas at that point. There are also a reasonable number of lawyers working as advisers in areas OUTSIDE their areas, advising clients in the client's base area about law where the lawyer is qualified. The obvious example in the number of US lawyers with no UK qualifications in London, but it works the other way round too.

My father was in public sector and worked abroad on sevral occasions, for up to three years at a time. He could have applied for more postings and worked abroad pretty consistantly on this basis. I think he was always paid in sterling though..really not sure.