Is 60% Income Tax really a thing?

csgohan4

Pennywise said:

csgohan4 said:

But back to the main topic, either earn below 100k or earn a hell of a lot more over 125k

Just one of many cliff edges in the tax system.  The same applies with a business like a shop or cafe and the VAT registration threshold of £85k.  Same happens - either reduce opening hours to keep turnover under £85 to avoid VAT registration or open longer to get turnover up to around £100k - in between, you end up worse off than artificially holding the business back under £85k.  It's why lots of fish & chip shops close for a few random weeks and why cafes often close in winter.  They really don't want to have sales of say £90k and end up paying £10k of that in VAT when they could have sales of £84,999 and keep it all!

Sadly the government thinks some of us are idiots and work more for little gain. This affect all public services not just corporate high earners. 

Nothing new to be honest, will happen with what ever government is in place. There is a consultation for pensions for healthcare ongoing due to the issues outline, but I wouldn't hold your breathe. I know people who have down their hours and therefore see less patients which is sad to be honest.