Jump to content
House Price Crash Forum
Sign in to follow this  
EmmaRoid

More We're All Phooked, Race To The Bottom, Tin Foil Hatter Paranoia

Recommended Posts

2 things, the classic squeeze.

Already experiencing price inflation supposedly off the back of minimum wage increases and now I've got proof of how the tax and NI changes will make me poorer this month. Good luck out there.

[jagger]I know it's only anecdotal but I like it. [/jagger]

Share this post


Link to post
Share on other sites

Could you explain the tax/NI bit?

I'm what now seems to be called a "middle income earner". Earns too much to get tax credits but not enough to serve champagne and caviar every night.

GO made a great fanfare in the budget about raising the tax threshold so people like me pay less tax. Unfortunately for me, the changes to pension and removal of the serps opt out has increase my NI by far more than I get back for the tax change. As there is no pay rise this tax year, from March to April my take home pay has gone down.

Isn't it a 1.4% national insurance increase for those of us previously opted out? As well as a 3.4% increase in my company's NI bill.

I suspect This will not be the last moan you hear on the subject.

Share this post


Link to post
Share on other sites

The tax system in the UK is far too complicated, thats why they get away with it as most people will just shrug their shoulders as it is too hard to work out.

I employ an accountant and know more than most peeps through years of experience and even I have found it too hard to accurately predict this year.

Will wait till the dust settles and adjust accordingly later in the year.

Share this post


Link to post
Share on other sites

The tax system in the UK is far too complicated, thats why they get away with it as most people will just shrug their shoulders as it is too hard to work out.

I employ an accountant and know more than most peeps through years of experience and even I have found it too hard to accurately predict this year.

Will wait till the dust settles and adjust accordingly later in the year.

Also, one risks being branded an evil Tory little better than a Russian gangster if one uses legitimate tax avoidance schemes. In the popular mind it seems that it's ok to get relief on tax if the government does it for you (tax credits etc) but not if you do it yourself!

Share this post


Link to post
Share on other sites

Also, one risks being branded an evil Tory little better than a Russian gangster if one uses legitimate tax avoidance schemes. In the popular mind it seems that it's ok to get relief on tax if the government does it for you (tax credits etc) but not if you do it yourself!

Depends on whether you preach deficit hysteria or not, which would be a tad hypocritical no?

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   43 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.