Tax on savings

[AndrewP]

Have to agree . I find those who want others to pay more tax are generally those who pay the least .
I’ve paid millions in various taxes over the last 10 years or so.
Now everything I do is about minimising any tax (legally Ofcourse)

Sure you have.

Warren buffet is a multi billionaire 90 yr old
Gilly is a young lad earning sone decent coin

Wrong

 

[Tuono]

How about a sliding scale, instead of jumps at £50,000 and £125,000 or what ever, how about a tax that starts at 1% and goes up at 1% increments according to how much you earn.

 

[Longcount]

How about a sliding scale, instead of jumps at £50,000 and £125,000 or what ever, how about a tax that starts at 1% and goes up at 1% increments according to how much you earn.

Sounds extremely expensive and inefficient to implement, manage and police.

 

[42]

How about a sliding scale, instead of jumps at £50,000 and £125,000 or what ever, how about a tax that starts at 1% and goes up at 1% increments according to how much you earn.

Scotland have a more bands including a 19% & 21% rates which are a gimmick really (especially the 19% one) The concern is how much extra work & over complication will that cause, which costs money. Employers will have to pay to update their payroll software etc

The jumps at £50k aren't even that big as NI drops, so you're really going from 32% to 42%

 

[Tuono]

Maybe in the days of typewriters and telegrams it would be expensive to implement but surely these days when we have smart everythings it should be simple to do.

 

[Longcount]

Maybe in the days of typewriters and telegrams it would be expensive to implement but surely these days when we have smart everythings it should be simple to do.

I'm assuming you haven't had the misfortune of having to deal with HMRC's deteriorating services over recent years. Nightmare getting basic shit resolved at times in no small part how long it takes to get through to them.

Be impossible to even get through to them on the phone with a system like this mate

 

[Tuono]

I'm assuming you haven't had the misfortune of having to deal with HMRC's deteriorating services over recent years. Nightmare getting basic shit resolved at times in no small part how long it takes to get through to them.

Be impossible to even get through to them on the phone with a system like this mate

I got investigated about 10 years ago. They went through my accounts with a fine tooth comb and after screwing me for every mistake I made they refused to admit their mistakes. I just paid them what they wanted, no point in arguing.

 

[42]

Maybe in the days of typewriters and telegrams it would be expensive to implement but surely these days when we have smart everythings it should be simple to do.

In theory it should be. I previously had a bit of a discussion around changing tax rates with another poster. I suggested it should be easy. They suggested that software companies deliberately make it awkward so they cream off more profits from upgrades.

 

[Tuono]

In theory it should be. I previously had a bit of a discussion around changing tax rates with another poster. I suggested it should be easy. They suggested that software companies deliberately make it awkward so they cream of more profits from upgrades.

Horizon?

 

[Mackem00]

Everyone should just pay 20% that’s the only way it could be deemed as fair

You know when you say you are the most working class person on here mate?

 

[Gillythedilf]

You know when you say you are the most working class person on here mate?

I am .

People should pay 20% across the board. If your on £50k a year then £10k tax is a very generous amount and more than fair.

 

[Mackem00]

I am .

People should pay 20% across the board. If your on £50k a year then £10k tax is a very generous amount and more than fair.

Be class when society falls apart like. Be like Mad Max. Wonder how we'd have turned out without proper schools and hospitals.....

 

[Gillythedilf]

Be class when society falls apart like. Be like Mad Max.

People need to take accountability for themselves more.

 

[Wild Card]

I'm assuming you haven't had the misfortune of having to deal with HMRC's deteriorating services over recent years. Nightmare getting basic shit resolved at times in no small part how long it takes to get through to them.

Be impossible to even get through to them on the phone with a system like this mate

I attached a pdf to a tax return which is perfectly fine, think it was a certificate of residence. Called the revenue about it as it was ignored by hmrc. Got put through to technical he said the self assessment software was still the same one developed in the 90s (presumably this was the one developed for electronic submissions) and there was no chance of the software being able pick up the pdfs we attach.

HMRC are shockingly bad. It least we have been spared from making tax digital for a while.

 

[yamar1]

Early for me, it's usually a 3pm finish on a Friday. Anyway on the Carlsberg Export now so all financial decisions will have to wait until I'm soberer.

1 every Friday for me. Partial to the odd export myself, nice choice.

 

[Longcount]

People need to take accountability for themselves more.

You're right with this mind, too many people these days have no accountability or solid principles, but it's not a good justification for what you're suggesting. You want a thicker, more unhealthy nation. Where's the next generation of innovation or highly skilled workers going to come from? How much productivity will be lost to illnesses & long term delays in medical intervention due to even less funding to the NHS?

The rich need to pay a decent amount of tax to (in theory) have a population that are smart, skilled and healthy enough to continue generating profit for said rich folk.

 

[Wild Card]

You're right with this mind, but it's not a good justification for what you're suggesting. You want a thicker, more unhealthy nation. Where's the next generation of innovation or highly skilled workers going to come from? How much productivity will be lost to illnesses & long term delays in medical intervention due to even less funding to the NHS?

The rich need to pay a decent amount of tax to (in theory) have a population that are smart, skilled and healthy enough to continue generating profit for said rich folk.

Plus the wealthy invest in the less well off to make money off the back of their toil, paying them less that what they make from them. Swings and roundabouts.

 

[Select coaches]

You're right with this mind, too many people these days have no accountability or solid principles, but it's not a good justification for what you're suggesting. You want a thicker, more unhealthy nation. Where's the next generation of innovation or highly skilled workers going to come from? How much productivity will be lost to illnesses & long term delays in medical intervention due to even less funding to the NHS?

The rich need to pay a decent amount of tax to (in theory) have a population that are smart, skilled and healthy enough to continue generating profit for said rich folk.

Tax take is the biggest since the war, the more they take the more they waste

 

[Longcount]

Plus the wealthy invest in the less well off to make money off the back of their toil, paying them less that what they make from them. Swings and roundabouts.

That's what I was getting at with the second part mate. You need your workforce to be well equipped and healthy to allow you to generate the most profit possible. Massively reduce the rich's tax obligation to society and long term, that all goes to shit.

Tax take is the biggest since the war, the more they take the more they waste

I don't disagree that particularly at the moment, the government just waste massive amount of tax money.

 

[AndrewP]

I am .

People should pay 20% across the board. If your on £50k a year then £10k tax is a very generous amount and more than fair.

Real working class attitude wanting everyone earning £50k or less to pay more income tax there Gilly.