10p tax rate loss
- Thread starter Gaspode
- Start date
I long for the day when we finally have a fair taxation system. One band, one (generous) personal allowance and a government that doesn't waste money quicker than Britney spears at her dealers...
Unfortunately too many people believe a fair system is one that benefits them, rather than one that treats everyone equally.
Unfortunately too many people believe a fair system is one that benefits them, rather than one that treats everyone equally.
But that wouldn't allow them to unnecessarily punish the taxpayer (while holding no enviromental benefit) who buy nice cars but don't tend to drive them constantly...
http://www.pistonheads.com/news/default.asp?storyId=17961
Our government isn't interested in being small and unobtrusive, but massive and controlling, and again, some people seem to think this is a good idea (usually while also moaning about the nanny state interfering in their lives)...
yep, *** only way to reduce co2 is to tax fuel. Not the car.
This government has got everything wrong in every area. Apart from wanting to build 2 new eco towns. That's about the only thing I agree on.
You just have to look at all these complicated tax systems, well any government system. There has to be so many people employed just as it's so complicated.
It's so sad that people think the government need to interfere so much and that are lives need controlling. Government should be there for the very basics. Then local councils there for local issues. Then let us get on with the rest.
This government has got everything wrong in every area. Apart from wanting to build 2 new eco towns. That's about the only thing I agree on.
You just have to look at all these complicated tax systems, well any government system. There has to be so many people employed just as it's so complicated.
It's so sad that people think the government need to interfere so much and that are lives need controlling. Government should be there for the very basics. Then local councils there for local issues. Then let us get on with the rest.
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Soldato
Is that question genuine?
Everybody earning more than 18K a year is better off. Thus the rich get richer and the poor (who are now worse off) get poorer. Simple really.
Yes its genuine - the change I am referring to is the 10p tax rate cut - it affects the poor and the rich alike - they both suffer the same cut. I dont see how removing the 10p rate makes the rich richer? We are not talking about the other changes to the tax bands remember - just the cutting of the 10p tax rate. That is what lordsplodge was initially referring to and the point that I quoted on.
You do understand millions of taxpayers who are losing the 10p band, are gaining a larger amount by the basic rate cut from 22p to 20p, yes? You seem to think that all taxpayers are going to be worse off?
The ones who are getting hardest hit are the low paid.You do understand millions of taxpayers who are losing the 10p band, are gaining a larger amount by the basic rate cut from 22p to 20p, yes? You seem to think that all taxpayers are going to be worse off?
Yes I do understand that. But we are not discussing that, we are discussing the cutting of the 10p tax band - nothing else
Soldato
You can't just look at it like that. Obviously if everyone earns the same then everyone is affected the same but that isn't that case.
People earn different salaries and are therefore affected differently by these tax changes.
But I am replying to Lordsplodges comment that THIS 10p TAX CUT makes the poor poorer and the rich richer. I KNOW that, generally speaking, you have to look at the whole picture. But, if you go back to the start of the thread when he made the comment and, even examine the thread title, you will see that we are NOT generally speaking. We are talking and commenting on, specifically, the cutting of the 10p tax rate.
Soldato
Right.. obviously everyone is affected the same if all we're looking at is the 10p tax rate loss as everyone is losing it.
I thought most comments in this thread were discussing the affect of all the tax changes and not just the 10% rate, hence why people are saying it's making the rich richer and the poor poorer.
I've already conceded that point for the general public - but that doesn't wash for my last sentence regarding polititians. Why wasn't there more of a revolt from Labour MPs at the time? How can they be involved in politics and fail to comment on something so crucial and obvious? OK so there is a little more media coverage this year, but even so, surely if it is such a vital issue to them they should have been beating down the door to #10 last year?
Caporegime
The UK tax legislature is the largest in the world, apparently.
And I have learn it all inside out...
Soldato
Wow so the people who earn £18000.01 are now termed as rich !! I take it people on £15k are now the middle earners. I suppose its one way to lift people out of poverty.
Caporegime
Sure, it's not massively rich, but it's the dividing line, and it's clear what people mean by "rich" and "poor".
If you want to get into silly definitions, I've got a couple for you... Under the tax law, a "lower paid earner" is someone earning less than £8,500 a year (so anyone earning more is a "higher paid earner") and an "expensive car" is one that costs more than £12,000.
Sigh... don't be pedantic and split hairs. We all know what is meant by the term in context.
Soldato
Its hardly pedantic when there are loads of people on what is termed as being on less than the average wage and are now hearing that the rich are getting richer, when in fact they are probably a few quid better off.
Soldato
That is virtually irrelevant as anyone earning less than £8500 a year is working part time and it really has no meaning, after all they could be working 2 hours a week attending board meetings or someone on minimum wage.
Caporegime
That was hardly my point. I should give some context... In the tax law, if you are a lower paid earner, then you aren't taxed on your benefits. It's supposed to be a generous thing. However, the limit is so hopelessly out of date that no one falls into it.
The same with the expensive cars thing. It's for the purposes of figuring out how much of the costs of leasing a car can be deducted by a company. If a car is "expensive" i.e. costs more than £12k, then you can't deduct the full cost. Of course, this too is stupidly out of date, as the vast bulk of cars - and certainly those that will be leased as company cars - cost more than that.