Could Basic Rate Tax Rise By 5p?

Harry_Powell

bendix wrote: »

Complain about paying a flat rate tax of around 6%? Would you?

Where is that?

The_White_Horse

there needs to be a special Public Sector income tax, where all public sector employees pay 0-80% of their salary in tax. The more useless the job, the more it is taxed. So, a nurses will pay an additional 0% on their pay, but an equality and diversity manager or a street football co-ordinator will pay 80%. The additional rate of tax will be worked out by having a website, upon which the general public can vote on the worth of these non-jobs.

mitchaa

bendix wrote: »

Sod it. I've had enough of the UK. With the tax increases I am now actively looking for a new role overseas. I have one job offer - located in an offshore location - in the bag, and I'm looking at others.

I have paid over £50k in income tax since January 2009 when I arrived. I'm damned if they're going to have the same amount this year.

In order to pay £50k in income tax in the space of a year, you must be a £150k earner.

If this is the case, you are going to see a rise come April anyway as your personal allowance of £6475 is withdrawn down to 0 and you enter the 50% tax rate at earnings over £150k.

So you will definitely be paying a considerable amount more tax in around 10 weeks time anyway. It must be a right bug*er having to survive on £8kpm

Sod moving for financial reasons though. If you are born and bred in this country with friends and family around you, you would have to be a severely greedy and selfish individual to up sticks just to save a few bob.

thriftybabe

mitchaa wrote: »

I would rather an increase in VAT so everyone pays it, rather than just those unfortunate in the workforce. You run a company, you can offset expenditure like there is no tomorrow so a rise in income tax is not going to be as bad for you as say a rise in VAT hence why you are of the opinion of you are

We are pricing jobs and homeowners do not want to pay VAT. They say all the time about saving VAT. We are having trouble getting jobs against those that are paying no tax and no VAT!

mr_fishbulb

Thrugelmir wrote: »

A high % of money spent on jobs returns to the exchequer as tax.

And added to the pension deficit for the public sector.

mitchaa

thriftybabe wrote: »

We are pricing jobs and homeowners do not want to pay VAT. They say all the time about saving VAT. We are having trouble getting jobs against those that are paying no tax and no VAT!

I get what you are saying but you run a business and are in such a small minority. You can and probably do maximise your 'expenditure' against taxation so you benefit from being in relative control of how much you give the tax man.

There are 30m on PAYE that do not have that choice, so ask them and I suspect the vast majorities would rather see a VAT increase than an income tax rise.

Increasing VAT is the fairest way for all in my opinion.

doire_2

donaldtramp wrote: »

:rotfl::rotfl::rotfl:
Do you have any idea how much debt we are in?

There is going to be massive pruning of the public sector, both Darling and Osbourne have admitted.
Taxes will rise. We cannot keep paying out more in benefits than we take in from income tax. Benefits will get hammered as well.
The only reason that Britain is still functioing at the moment is because the government is borrowing like ther is no tomorrow.
The inflation rate has already jumped, Interest rates will have to rise and at some point the government will no longer be able to borrow money at the rates they are getting just now. Lenders (the bonds markets) are already talking of downgrading the UK's credit profile from AAA.

This is still an absolute disgrace. We are dropping down the league of rich nations. We have no industry to get us out of it and a massive third generation underclass who thinks that they are "entitled" to everything without contributing to society.

Britain is in a very sorry state.

Maybe he does and just wont admit it.

System

The_White_Horse wrote: »

there needs to be a special Public Sector income tax, where all public sector employees pay 0-80% of their salary in tax. The more useless the job, the more it is taxed. So, a nurses will pay an additional 0% on their pay, but an equality and diversity manager or a street football co-ordinator will pay 80%. The additional rate of tax will be worked out by having a website, upon which the general public can vote on the worth of these non-jobs.

Haha that actually made me laugh

peterg1965

The_White_Horse wrote: »

there needs to be a special Public Sector income tax, where all public sector employees pay 0-80% of their salary in tax. The more useless the job, the more it is taxed. So, a nurses will pay an additional 0% on their pay, but an equality and diversity manager or a street football co-ordinator will pay 80%. The additional rate of tax will be worked out by having a website, upon which the general public can vote on the worth of these non-jobs.

Well said that man.

The way ahead should be to reduce waste in Govt, every department should be given a budget reduction of 10% (NO ringfencing of police or NHS). This could be managed quite easily I reckon. There will be a price to pay in terms of public sector job losses but so be it. An element of the money saved should then be redirected to encourage innovation, business and manufacturing. The rest pays off part of the HUGE debt.

Some other quick wins, some unpalatable but necessary:

- Increase VAT to 20%
- Increase tobacco and alcohol taxes by 20%
- Reduce Higher rate tax relief on pension contributions to £100,000
- Increase capital gains tax to 20%
- Cut MPs salaries and pensions by 20% (Tokenism but well worth it)
- Freeze inheritance tax.
- Double air passenger duty for long haul travel
- Increase fuel duty by an appropriate amount to cover the cost of scrapping vehicle exise duty + a bit more.
- Place a special tax on Tony Blairs exhorbitant income.

+ many others. If this is done by a Tory Govt, it will be painful initially (very), but by the eve of the following general election they can start to lower taxes.

Harry_Powell

peterg1965 wrote: »

Well said that man.

The way ahead should be to reduce waste in Govt, every department should be given a budget reduction of 10% (NO ringfencing of police or NHS). This could be managed quite easily I reckon. There will be a price to pay in terms of public sector job losses but so be it. An element of the money saved should then be redirected to encourage innovation, business and manufacturing. The rest pays off part of the HUGE debt.

Some other quick wins, some unpalatable but necessary:

- Increase VAT to 20%
- Increase tobacco and alcohol taxes by 20%
- Reduce Higher rate tax relief on pension contributions to £100,000
- Increase capital gains tax to 20%
- Cut MPs salaries and pensions by 20% (Tokenism but well worth it)
- Freeze inheritance tax.
- Double air passenger duty for long haul travel
- Increase fuel duty by an appropriate amount to cover the cost of scrapping vehicle exise duty + a bit more.
- Place a special tax on Tony Blairs exhorbitant income.

+ many others. If this is done by a Tory Govt, it will be painful initially (very), but by the eve of the following general election they can start to lower taxes.

Clearly the agenda of a non-drinking, non-smoking, non travelling, non-investing, non-higher rate tax payer who also isn't an MP, nor called Tony Blair.