To be fed up with the amount of tax / ni I pay

[Elephantstone1]

although my salary looks decent from the outside. I’m beginning to get really fed up with the amount of tax / ni I pay.

so on £60k end up coming out with just around £3k per month from £5k after all taxes (including council tax) have been paid.

we’re not entitled to any help that others may get

my commute costs about £400 a month, but I’ve already paid tax on that money, so i have to earn about £600 a month to pay for it.

i know I’m lucky to be on a decent salary. Just with the col increasing, I’m getting a bit fed up

So a tiny violin example for me. I recently got a modest bonus at work for a good job done. I have worked very hard for it and it is not at all life changing but enough money to have a slightly nicer time on our summer holiday (think a few fancy meals out, perhaps a nicer hotel for a couple of days). Because I am in the 40% tax band nearly half of it will be gone in tax. Which feels a bit rubbish. If I had won it on the Postcode Lottery it would have been tax free. 😐

Just to note I don't resent paying tax at all and I am fortunate to get any sort of bonus but it feels tax is disproportionately on income.

Most employers do offer a loan for an annual travel/train pass or a new bike (may even cover e-bikes?) which works out cheaper, unless you are driving in?

I’m on 50 k and have a similar priced commute. I take home £2900 per month. Im happy to pay my taxes and think that higher paid individuals should pay significantly more than they do. How do you expect our services to be funded? Perhaps get a job in the UAE.

When I first knew what the income tax rate was, it was 42.5% (well, actually it was pre-decimalisation, so it was 8s 6d in the pound). Top tax rate was 19s or 19s 6d (95%/97.5%).

I chuckle when people moan about high income tax rates.

I was a higher earner in previous job, and I have some sympathy with this position. I had to pay higher rate of tax, plus nearly £10k of tax in advance each year. Was working round the clock in high-stress environment for an income that rapidly disappeared.

@Ginmonkeyagain yes in the civil service we are getting a £1500 bonus but I will see £735 of it after tax and student loan NOT complaining but £735 doesn't sound as good as £1500, especially when it's from the government it's like "hey here is £1500, but we're gonna need some of that back" ha.

Yeah, you'd think today's workers had invented work and high taxes lol 🙄

The 40% tax band should be at around £82k when adjusted for inflation

yep

We have covered that in this thread.

Public services can be "funded" by eliminating the £12.57k tax free amount and broadening the tax base.

Its time everybody had skin in the game.

As a pensioner, I'd like to just point out that I am still paying full taxes on my pensions and savings.

NI ends - nothing else does!

I had not realised the £1.5k lump sum was gross of tax.

Its laughable how we treat bonuses in the UK

£20k bonus? You get £8-9k net.

Just insane at this point.

Its time everybody had skin in the game.

Everyone has skin in the game. Regressive taxes like VAT are paid by everyone and have a far bigger impact on the least well off. There’s no way I’d ever vote for a party that took money from some poor bastard earning less than £12k to subsidise someone like me. Talk about grinding the faces of the poor.

When I first knew what the income tax rate was, it was 42.5% (well, actually it was pre-decimalisation, so it was 8s 6d in the pound). Top tax rate was 19s or 19s 6d (95%/97.5%).

What were other taxes eg VAT like back then?

@Zebedee55 I don't think anyone thinks some pensioners aren't still paying tax...

I agree with you. I think your salary may be colouring opinions as it’s relatively high & plenty of people on this forum will assume you have no reason to worry in comparison to their finances

I earn £29k annually, just been promoted with salary of £39k annually. It sounds like a large jump but my tax and NI contributions will double according to a take home pay calculator. My student loan repayments will increase by over 1000%. Out of a £10k pay rise, at least 45% will be taken out of the pay rise before I receive it.

Then cost of living is high so bills have increased elsewhere recently, alongside food/petrol expenditure. It’s not just people on low incomes that are feeling the squeeze. I’m in my 20s and genuinely considering to opt out of my pension

but it feels tax is disproportionately on income.

Earnings have stagnated for years, tax bands have been frozen so the burden on income vs wealth is definitely disproportionate

VAT was 25% in 1974. It replaced 33% purchase tax when it was introduced.

Op I am with you. It is ridiculous the amount of taxes we pay and the little we get back. Not only income taxes but all the taxes together. Even high earners are unhappy and most of us are leaving. At the moment is like a horror film if you add the crime and violence to the usual problems. Worst of all some people advocate for open borders. I just saw an article that hotels are the new norm as people are struggling so much to find accommodation. This is going to get a lot worse.

VAT was 25% in 1974. It replaced 33% purchase tax when it was introduced.

Thanks

I think the issue for people born after 1980 is that due to stagnant wages & ever increasing housing costs their "wealth" hasn't increased like it has for previous generations so many people are feeling dissatisfied that despite working & climbing the ladder they are still not going anywhere.

11 million people over 65
7.7 million of them pay tax
1 in 10 of those are paying higher rate tax

A total of 31.6 million people pay tax in the uk

If 13 million of the population is children
And the uk population is 67 million and 11 million are pensioners we can see;

Then we have 70% of pensioners paying tax
And we have 73% of the working age population paying tax

The problem does not seem to be pensioners.

It's SAHM who don't see enough benefit from working
It's those too ill, mental health and long covid
It's those too disabled

I can assure you that none of the high earners I know are going anywhere

I'm sorry but I always hear a toddler having a tantrum when people say things like "all is high earners are leaving "

Yanbu. Utterly sick of being ripped off at every turn. We earn just over £120k between us and do not have the lifestyle that I hoped we would. I don’t mind paying tax, but I do mind the poor service and standards and general fuckwittery that this country seems to accept as standard.

We have private dental, medical and opticians because the NHS ones here are oversubscribed or just not good.

Roads here and the general area is in bad condition; no visible local investment. Food prices out of control.

I’m starting to think there’s no point aspiring to anything.

Well you could have a society where you pay less tax

And you will likely find that by the time you pay all the extras you have no more lifestyle than you have now

Funnily enough I earn somewhat less than 120k ( giggles at the thought of that kind of salary ) yet I have a lovely lifestyle

Life is what you make it and looking to blame others because it doesn't live up to your expectations never makes it better