MSE Parents Club Part 11

tarajayne

Our car needs renewing, because of the higher tax rate we're looking at the lowest CO2 cars, currently the BMW 3 series and Volvo V50.

Buttonmoons

never-in-doubt wrote: »

A high wage is more than the average, in most cases £40k + is regarded as a high wage.....

Starting rate for savings only 10% - £0 - £2,440
Basic tax rate 20% - £0 - £37,400
Higher Rate 40% - Over £37,400

*Increased Higher Rate to 50% - Over £150,000 from April 2010 (increased from 45% in April 2009 budget speech).

Honestly, WHY WOULD YOU LIVE HERE TO BE TAXED 50%!! If I was earning that much, Id be leaving this crappy country!!

I'd not want all my hard earned money lining the coffers of everyone else, I mean come on ID cards? Stupid. Should just throw the money down the well with little timmy and be done with it

Krystaltips

searching_me wrote: »

D??? ... my tax creds just take me over the edge x

Hubby... He earns less than £15k... We are entitled to WTC which means he is on a low wage...

Buttonmoons wrote: »

Im away to tell him you called him ugly

Not what I meant, but if it makes you feel better

Sami_Bee wrote: »

my biggest worry is that we've been getting almost £350pm in WTC and the calculator says we're not entitled to any WTC ???

Gosh Sami, that's a lot of WTC... We only get £20ish pw...:o

Beenie, the people that got rid of me when I was pregnant with Aimee were a family firm and the nepotism was hideous!

SS, Aimee had a similar style... I think I posted a pic to it a few days ago... :cool: (No earring though... As if I ever would!!!)

I meant to say earlier... One of the Mums at newborn group has started making bandana bibs... I gave her a popper setter that I had lying around and she made Caitlyn 3 bibs as a thank you... Super cute!!!

BrunoM

Bear in mind it's tiers - the 50% rate only applies to earnings above £150k - so if you earned £150,001, under the new scheme you'd pay out 10p more than you did under the previous. If you earned £200k, you'd pay out £5k more than you did on the previous.

elle_gee

Sami_Bee wrote: »

Hey you can do well working in an office
I started on a young apprentice thingy doing admin/tea making at 17 on just short of £7k pa and was offered a £16k pa job while on ML with Chris, not bad in 4yrs IMO :cool:

I went from £10 a day to £20k a year in ten years by being bloody awesome (if I do say so myself - HA! ) at paper shuffling and tea making!

money_maker_3

Think is, even with 50% tax, it could still work out more that what you would earn doing the same job in a different country !!

If I work my way up to a local mortgage manager which is where I am aiming, then I would be in the 40% tax band Now that would be nice, but I have a few more years graft to do before I can move up t that level and quite a few more FSA exams to sit too !!

ETA - its all depends on where you are though ... cost of living for me is far far far far far less than in London !!

BeenieCat

40% tax is outrageous IMO, let alone 50 :eek:. And that's coming from someone who's a lot of years off being affected by it!!

Sami that's good - the one admin job i had was zero prospects but i'd like to work for a bigger company and work my way up. But at the same time i hate the thought of Amber being in a nursery all day everyday while she's still so young, so i'd thought about using this time to do some college courses and a part time job...

MFD no i'd not even thought of that, it's a good idea, i shall read up

Buttonmoons

Ah well that's not so bad Bruno. They should quit taxing toothpaste and sanitary products, I think it's well out of order, they'd soon be moaning if everyone had worse teeth than they do now. Seen the price of sensodyne?

BrunoM

I actually thought VAT didn't apply to those things, BM! It has a reduced (5%?) rate for some staples and is waived entirely for 'essentials'.

ETA a quick google tells me that sanitary and maternity pads are on the reduced rate, as are children's car seats. Food, and children's clothes, are on 0%. Shrug.

Buttonmoons

I am pretty sure toothpaste is classed as a luxuary *off to google*