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Who's considered emmigrating because of tax?
Comments
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We might be losing a few key members of society like Bendix but I don't see any great rush of people to leave, and to be honest I doubt very much if we'll miss them if they do decide to go.
The feeling is mutual.
I paid nearly £60,000 in income tax and national insurance last financial year. That ignores the VAT and other creep taxes that I paid. Let's call it £75000 to be safe, shall we?
That is money - not just this year but throughout my remaining working life - that I'm delighted to say will benefit Mr and Mrs Bendix in perpetuity, rather than being paid to finance 4 chav families tired out after a day of rioting.
Go figure.
But it's not about the individuals. Corporations are considering moving too. I see the debate about HSBC relocating to HK has started again; sure you might not miss the CEO or CFO personally, but when they go, what do you think is going to happen to the tens of thousands of jobs HSBC is leaving behind thanks to punitive tax rates?0 -
I paid nearly £60,000 in income tax and national insurance last financial year. That ignores the VAT and other creep taxes that I paid. Let's call it £75000 to be safe, shall we?
Quite.
What the "throw the rich overboard!" people can't get their heads around is that our 3.5m HR tax payers pay more tax in total between them than our 26m basic rate tax payers do. Fancy your tax bill doubling? That's easy - just scare away those 3.5m people.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
anyone on the 50p rate can afford it. anyone complaining about it have more money than sense.Target Savings by end 2009: 20,000
current savings: 20,500 (target hit yippee!)
Debts: 8000 (student loan so doesnt count)
new target savings by Feb 2010: 30,0000 -
gadgetmind wrote: »Quite.
What the "throw the rich overboard!" people can't get their heads around is that our 3.5m HR tax payers pay more tax in total between them than our 26m basic rate tax payers do. Fancy your tax bill doubling? That's easy - just scare away those 3.5m people.
maybe a little overstated
one might reflect that there is a difference between people who can move where-ever they like and the jobs they do that sometime can and sometime can't
and of course if the cartel that run much of British industry and commerce were paid less then more money would be available for ordinary people who could pay more tax.0 -
maybe a little overstated
I read those numbers only yesterday. That 26m might be 26.2m but that only makes the argument stronger: high earners are already subsidising the tax bills of everyone else even without the 50p rate.
And for the record, I'm not in the 50p tax bracket and don't expect to be at any point in the future. However, I can easily comprehend the powerful argument for getting rid of this band, and the band where personal allowances are ripped away, ASAP.ordinary people
I find the phrase "ordinary people" to be about as useful as "the rich". Sadly, many people use these as relative phrases: anyone who earns more than they do is "the rich" and needs to be punished, anyone who earns less is "a slacker" (and ditto), whereas those who earn roughly the same are "ordinary people" who the state should smile upon.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
But it's not about the individuals. Corporations are considering moving too. I see the debate about HSBC relocating to HK has started again; sure you might not miss the CEO or CFO personally, but when they go, what do you think is going to happen to the tens of thousands of jobs HSBC is leaving behind thanks to punitive tax rates?
I'd be surprised if this happens, considering the 5.75% tax on "overseas financing income" was pretty much introduced to stop this sort of thing happening.0 -
Please explain how more than 50% of your pay goes in tax? Do you have no tax free allowance? Does none of your money get taxed at the lower rate?
MINE doesn't! I'm not that lucky.
For every additional pound beyond £150,000, 52p goes to the taxman. The personal allowance is progressively withdrawn from £100,000 so that's gone too.0 -
The personal allowance is progressively withdrawn from £100,000 so that's gone too.
Yup, 62% taxation in that band.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
anyone on the 50p rate can afford it. anyone complaining about it have more money than sense.
What an idiotic and small-minded attitude. Yes, we can 'afford' it, but we also have freedom of movement.
As someone else has said, it is the 3.5m higher tax rate earners who pay more tax combined than 26m lower tax rate payers. And yet those high rate taxpayers are probably more mobile and able to leave the UK more easily, like I did.
And if they go, who do you think is going to pay the difference in the tax?
Yeah, you got it . . chump.
Meanwhile, I'm off home soon and I'm going to think of ways I can spend my 70,000 tax saving this year on me and the wife, rather than frittering it away on malcontents like you and your pension.0 -
MINE doesn't! I'm not that lucky.
For every additional pound beyond £150,000, 52p goes to the taxman. The personal allowance is progressively withdrawn from £100,000 so that's gone too.
We are hit by the 62% marginal rate in our house, it's a big chunk a month lost now. Unfortunately we don't have the option of moving oversea's which is a shame.
My OH left a 5am yesterday morning and got back home at 11pm, he works damn hard. His payslip a month is just sickening when you see the deductions.
I'm sick and tired of hearing 'fair taxes' being banded around by these politicians. How does taking 62% away from someone qualify as fair?0
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