Personal allowance lost over £100k

pinkichiban

SueC wrote: »

The OP's already sounding quite grateful if you ask me.

But having something to be grateful for shouldn't stop any of us from needing or asking for help on something else.

It seems to me the OP wishes to avoid paying tax, or am I missing something?

UnderPressure

pinkichiban wrote: »

It seems to me the OP wishes to avoid paying tax, or am I missing something?

The Op was simply asking as to why he all of a sudden had to pay an extra £500 per month in tax, I would NOT say that is someone trying to not pay tax, for what it is worth the OP propbably pays more in tax already than most people earn!

SueC_2

pinkichiban wrote: »

It seems to me the OP wishes to avoid paying tax, or am I missing something?

Well, the OP has withdrawn the post now, so I can't re-check the wording, but from memory I don't think avoiding tax was mentioned in any way. It was more a case of them wanting to confirm that this situation was correct, and looking for ways to mitigate the drop in their disposable income.

Which is, after all, what MSE is all about. I am not aware of any rules that say you are only allowed to try and save money / spend less if you earn beneath a certain amount.

Even if the OP was trying to 'avoid' paying tax, what's wrong with that? There are many legal ways of 'avoiding' tax. Are we suddenly going to start condemning everyone who has savings in a tax-free ISA?

DVardysShadow

SueC wrote: »

So, the only people who should earn over £100k are tax experts?

The only people who should be able to take out loans are those that don't really earn enough to be able to re-pay them?

And you're only allowed to want to be Debt Free if you earn beneath a certain amount and have debts above a certain proportion?

I challenge anyone who has ever had a pay increase of any kind to deny that somehow, without any effort whatsoever, their out-goings increased proportionately and at the end of the day they weren't left feeling any "better off" whatsoever.

If that same person then found their monthly income strimmed back by a certain percentage, they also would be wondering how the shortfall would be covered. That same principle applies whether you're earning £15k, £50 or £100k+.

I don't see that the issue here required a tax expert. It was answered by lay people who have never had to deal with tax on that kind of salary.

Perhaps the OP was a little too open, talking about the need to keep up his car loan and implying that the loss of this money would cause him hardship. Well, it might, but given how many people here struggle on 10% of OP's salary, I think it was indecent of him to mention hardship to anyone on less than £80,000/yr.

I would not have reacted if all we had was a simple tax question.

Rockporkchop

DVardysShadow wrote: »

I don't see that the issue here required a tax expert. It was answered by lay people who have never had to deal with tax on that kind of salary.

Perhaps the OP was a little too open, talking about the need to keep up his car loan and implying that the loss of this money would cause him hardship. Well, it might, but given how many people here struggle on 10% of OP's salary, I think it was indecent of him to mention hardship to anyone on less than £80,000/yr.

I would not have reacted if all we had was a simple tax question.

It wasn't indecent of him to mention it, he was just asking a reasonable question about his own finances, not realising that so many posters would jump down his throat unnecessarily. There was absolutely no mention of avoiding tax in the OP either.

The OP probably mentioned things like his car loan to illustrate that he doesn't spend all of his salary on champagne and caviar. When you earn a decent salary you do tend to have the trappings that go with it, eg an expensive car, a hefty mortgage, large pension plan, children in private school etc. Even things like getting work done on the house are more expensive as tradesmen tend to see pound signs and hike their prices up as soon as they reach the front door.

It's a misconception that high earners have a huge amount of disposable income - the fact is that a lot of them probably have less disposable income than people on fairly low salaries. More assets, yes possibly, but not unlimited cash.

UnderPressure

DVardysShadow wrote: »

I don't see that the issue here required a tax expert. It was answered by lay people who have never had to deal with tax on that kind of salary.

Perhaps the OP was a little too open, talking about the need to keep up his car loan and implying that the loss of this money would cause him hardship. Well, it might, but given how many people here struggle on 10% of OP's salary, I think it was indecent of him to mention hardship to anyone on less than £80,000/yr.

I would not have reacted if all we had was a simple tax question.

Well I personally couldn't disagree with you more but hey ho thats life and I will leave it there. The OP has now withdrawn the original post so well done all the "negheads" that have yet again made a new member turn and run for the hills.

Peace out......................................

property.advert

Some will never be satisfied until they get Labour to tax the UK out of existence and who will pay their bloated benefits then ?

Some jobs do not exist in the wastelands of the North, Scotland or Wales for example. Should people who do those jobs be denied a reasonable house to live in simply because that house costs £500,000 or more within reasonable travelling distance to work ? Surely not even the communists still believe people can live in Bradford but work in the City ?

I could argue that a decent house costs over a million but I fear my wings would be shot down ! and yet it does in certain areas. A decent 2 bed flat where I lived costs around £500k. To buy that, you need a £100k plus salary. QED.

DVardysShadow

property.advert wrote: »

I could argue that a decent house costs over a million but I fear my wings would be shot down ! and yet it does in certain areas. A decent 2 bed flat where I lived costs around £500k. To buy that, you need a £100k plus salary. QED.

Cause and effect confused? The only reason that house prices are so high in some areas is because there are £100k salaries and bankers' bonuses?

DVardysShadow

Rockporkchop wrote: »

It wasn't indecent of him to mention it, he was just asking a reasonable question about his own finances, not realising that so many posters would jump down his throat unnecessarily. There was absolutely no mention of avoiding tax in the OP either

I quite accept that OP was not out to avoid tax.

Rockporkchop wrote: »

The OP probably mentioned things like his car loan to illustrate that he doesn't spend all of his salary on champagne and caviar. When you earn a decent salary you do tend to have the trappings that go with it, eg an expensive car, a hefty mortgage, large pension plan, children in private school etc. Even things like getting work done on the house are more expensive as tradesmen tend to see pound signs and hike their prices up as soon as they reach the front door.

I fear you are actually stirring the pot with that line of argument - rather than damping down the dissent.

Rockporkchop wrote: »

It's a misconception that high earners have a huge amount of disposable income - the fact is that a lot of them probably have less disposable income than people on fairly low salaries. More assets, yes possibly, but not unlimited cash.

Well, they makes their choices with their money and they have a lot more choices than most. If you go to the Debtfree Wannabe's, there are many there who, if they want a car, will have to take out a loan or HP and are often lucky if they have paid it off by the time they need another car. I am on a fraction of £100k, but I have not taken loans or HP for the last 4 vehicles. The OP could indeed, on £100k, pay cash for quite a nice car. So his car loan is actually as a result of his choice, unlike for many here. It is someone on that money suggesting that finding the money for car finance is a hardship which I find so incongruous.

Rothschild

pinkichiban wrote: »

It seems to me the OP wishes to avoid paying tax, or am I missing something?

Why would anyone not want to AVOID all the tax that they possibly could?? :eek::p:T


Avoiding tax is 100% LEGAL, and so everyone who has isnt a dimwit avoids paying as much tax as they possibly can!

Evading tax is illegal, however the OP hasn't asked anywhere about how to evade, only how to legally avoid.