We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Will savers take a hit with the 30% flat tax..
Comments
-
Haven't you heard? The BoE hate savers and seem to want them punished at every opportunity.
What has this got to do with the BOE?'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Why don't they do away with income tax and replace it with a payroll tax. That might stop people forever bleating about how much tax they pay out of their "own" money.
If we don't want people to have the money, don't tell them it's "theirs" and then take it off them. Just take it before they ever see it."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
Why don't they do away with income tax and replace it with a payroll tax. That might stop people forever bleating about how much tax they pay out of their "own" money.
If we don't want people to have the money, don't tell them it's "theirs" and then take it off them. Just take it before they ever see it.
I don't think many people are stupid enough to be taken in by that. Could be wrong though, surprising how many do not realise that they are in effect actually paying the employers NI at the moment.0 -
A proposal thats been in the press in the last few days...
Simplify our system...NI...VAT...CG...Income tax...
Our savings are taxed at 20% now so we may be in for another bad day...any views..
http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/9202370/Osborne-urged-to-introduce-30pc-income-tax-for-all.html
http://www.myfinances.co.uk/savings/2012/05/21/tax-commission-calls-for-30-flat-tax-rate-on-income-and-capi
Our savings are taxed at 40% now if your salary/other income takes you into the 40% tax band (which ours does).Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
Graham_Devon wrote: »Which pensioners? Normal pensioners won't suffer much, probably won't even notice it. Have to have a fair chunk of svaings at todays rates to even get taxed in the first place.
Any pensioner with a pension of more than about £13k would be worse off. They would lose about £100 a thousand above that if I've done my sums right.0 -
Problem with taxing interest income though is that it is effectively taxing inflation. I am all for a single harmonised tax rate and don't see why people should pay less just because the income is classed as interest but I think only real returns on savings should be taxed otherwise it is another incentive for the govt to inflate away savings...I think....0
-
Any pensioner with a pension of more than about £13k would be worse off. They would lose about £100 a thousand above that if I've done my sums right.
Why 13k and not £10.5k?'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Graham_Devon wrote: »Which pensioners? Normal pensioners won't suffer much, probably won't even notice it. Have to have a fair chunk of svaings at todays rates to even get taxed in the first place.
Pensioners with a second pension will be taxed at 30% over £10,500...instead of 20%...the state pension is forecast to rise to at least £7,000 in a few years time..
Its compulsory to have a private pension as from this year so it will affect all...of course those who have decent pensions today may be paying the current 40%..
Wouldnt really bother me if it were all simplified at 30% but I'd guess the government would reduce its employment levels somewhere..0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245K Work, Benefits & Business
- 600.6K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards