PAYE 6 Years on
Discussion
qureshia said:
Just done my 2011/2012 tax return
I was lucky enough to have earned (gross) almost exactly what I did in 2004/2005, (after a number of
learner years)
Yet somehow the tax man managed to raise his share of my earnings by a whopping 15% (100% paye)
I am perhaps a little more "left of centre" than most of the PH'ers however I am now left thinking enough is enough. I pay for my kids education, we have our own medical insurance, made my own pension provesions, never taken any benefits (beyond universal ones such as child benefit)
Arrrrh - rant over
You wait until next year when you get butt-fI was lucky enough to have earned (gross) almost exactly what I did in 2004/2005, (after a number of
learner years)
Yet somehow the tax man managed to raise his share of my earnings by a whopping 15% (100% paye)
I am perhaps a little more "left of centre" than most of the PH'ers however I am now left thinking enough is enough. I pay for my kids education, we have our own medical insurance, made my own pension provesions, never taken any benefits (beyond universal ones such as child benefit)
Arrrrh - rant over
ked with the latest wheeze of removing child benefit. My wife still receives it (I didn't want to risk her losing out on State pension benefits, for what that's likely to be worth when we get to whatever age it might, just might, pay out at) so I get taxed as if it is additional net income for me.Coupled with the removal of the personal allowance, my personal tax bill has gone up enormously over the last few years. As have the prices of many things I buy. Shame that my gross income is actually falling ...
Eric Mc said:
Almost definitely not.
It's a fine balance administering a complex and complicated economy.
Trying to undo 200 plus years of economic devel;opment and the related tax systems is very, very difficult.
Out of interest what is there to stop HMRC putting a couple of very bright young things into a room with the brief that they are to revise the whole system for implementation in 2020 to make it as simple as possible in all respects? It's a fine balance administering a complex and complicated economy.
Trying to undo 200 plus years of economic devel;opment and the related tax systems is very, very difficult.
It is something I often wonder about as there seem to be all sorts of little complex bits that close down loopholes and so on. Surely it would be far simpler to say if it isn't specifically set out that you can deduct x, y, or Z you can't.
It seems that Tax is one area where everyone involved from HMRC to the advisors to the tax payer has completely forgotten the meaning of KISS and the massive benefits it brings to all involved.
Rude-boy said:
Out of interest what is there to stop HMRC putting a couple of very bright young things into a room with the brief that they are to revise the whole system for implementation in 2020 to make it as simple as possible in all respects?
That would be Piers and Olivia, here: www.hm-treasury.gov.uk/ots.htmThough given the mess that is the child benefit intro, I guess they are not getting much face time with Sir Humphrey.
Rude-boy said:
Out of interest what is there to stop HMRC putting a couple of very bright young things into a room with the brief that they are to revise the whole system for implementation in 2020 to make it as simple as possible in all respects?
It is something I often wonder about as there seem to be all sorts of little complex bits that close down loopholes and so on. Surely it would be far simpler to say if it isn't specifically set out that you can deduct x, y, or Z you can't.
It seems that Tax is one area where everyone involved from HMRC to the advisors to the tax payer has completely forgotten the meaning of KISS and the massive benefits it brings to all involved.
Nothing.It is something I often wonder about as there seem to be all sorts of little complex bits that close down loopholes and so on. Surely it would be far simpler to say if it isn't specifically set out that you can deduct x, y, or Z you can't.
It seems that Tax is one area where everyone involved from HMRC to the advisors to the tax payer has completely forgotten the meaning of KISS and the massive benefits it brings to all involved.
Except they would, of course, ignore everything the "bright young things" said once they put forward their proposals.
HMRC is an empire - which grew massively in the Brown era. HMRC gobbled up Customs and Excise, the Benefits Agency, the Contributions Agency and took over the administration of the Tax Credit system when it came into being.
It is a juggernaut of epic proportions and would probably require a revolution akin to the Russian Revolution of 1917 to see its demise.
Newc said:
Rude-boy said:
Out of interest what is there to stop HMRC putting a couple of very bright young things into a room with the brief that they are to revise the whole system for implementation in 2020 to make it as simple as possible in all respects?
That would be Piers and Olivia, here: www.hm-treasury.gov.uk/ots.htmThough given the mess that is the child benefit intro, I guess they are not getting much face time with Sir Humphrey.
Eric Mc said:
Rude-boy said:
Out of interest what is there to stop HMRC putting a couple of very bright young things into a room with the brief that they are to revise the whole system for implementation in 2020 to make it as simple as possible in all respects?
It is something I often wonder about as there seem to be all sorts of little complex bits that close down loopholes and so on. Surely it would be far simpler to say if it isn't specifically set out that you can deduct x, y, or Z you can't.
It seems that Tax is one area where everyone involved from HMRC to the advisors to the tax payer has completely forgotten the meaning of KISS and the massive benefits it brings to all involved.
Nothing.It is something I often wonder about as there seem to be all sorts of little complex bits that close down loopholes and so on. Surely it would be far simpler to say if it isn't specifically set out that you can deduct x, y, or Z you can't.
It seems that Tax is one area where everyone involved from HMRC to the advisors to the tax payer has completely forgotten the meaning of KISS and the massive benefits it brings to all involved.
Except they would, of course, ignore everything the "bright young things" said once they put forward their proposals.
HMRC is an empire - which grew massively in the Brown era. HMRC gobbled up Customs and Excise, the Benefits Agency, the Contributions Agency and took over the administration of the Tax Credit system when it came into being.
It is a juggernaut of epic proportions and would probably require a revolution akin to the Russian Revolution of 1917 to see its demise.
One can understand but not condone rabid self interest. New Labour managed to combine appalling rabid self interest with utterly dreadful and grossly oversized and unaccountable administrative bodies which are so large they can never be run effectively. Undoubtedly the worst post war government and probably the worst since the Balfour administration.
The diseconomies of scale in the juggernaut will prove to be scandalous. Massive tax avoidance here the UK comes, I an sorry to say. If ever there was a good example of the consequences of poorly considered legislation having the effect of directly frustrating all the perceived benefits in changing governmental structures, supposedly in the name of efficiency, this takes the biscuit.
Eric Mc said:
It is a juggernaut of epic proportions and would probably require a revolution akin to the Russian Revolution of 1917 to see its demise.
Talking of 1917 some times, just sometimes, I do wonder if we would not be better off if we were run by a benign dictatorship. 
It’s February next month isn’t it 
Ozzie Osmond said:
Puggit said:
lose your tax free allowance, essentially this creates a 60% tax rate for £100k-£112k.
Yes, there are some very aggressive "effective" tax rates where the allowances are being withdrawn. This is especially tough on pensioners where oldsters pay an effective rate of 30% tax on income between £25,000 and £30,000 p.a.This whole concept of raiding savers and pensioners to make good the bankers' recklessness is a national disgrace.
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