To reduce hours when labour win election

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I fall into the “60%” tax bracket. With the upcoming elections and knowing the government always hammer the middle ground….woudlnt it make more sense for me to cut my hours for a more relaxed life, eligibility for childcare, reduced tax?

Same.

I wouldn't have waited this long, personally. And didn't. DH and I have both taken action to make sure we haven't been pissed about at various bottleneck points in the tax system.

Can't blame anyone at all for deciding that getting clobbered by a particularly stupid marginal rate isn't worth the effort. But if it takes you til a general election to notice, you're missing a trick!

So how busy is 55 Tufton St right now? Must be bedlam.

There you go @GiantCousCous another baseless attack for you ;

The serious rich have either already moved their loot to where it can't be touched or actively involved in making sure they are doing that and the City has laredy priced in a Labour victory. It's steady as she goes.

Me too. I'm already talking to my employer about reducing my hours. I don't really want to I absolutely love my job. But I'm not going to carry on working long hours and given a huge part of it away.

They won't. It's not that easy to 'just leave the country' if this is where your family is and where you're, you know, earning the money. Especially post Brexit.

Also the vast majority of people aren't high earners and tbh don't really care about those people who are, who are more than capable of looking after themselves. Anyone who thinks that might be the ticket to a Tory win (or less terrible loss) is deluded.

What increased taxes do you think will be in any way impacted by the hours you work?

And how does the hours you work affect whether you pay VAT on private schooling?

I think there's some harsh judgements on here. OP has highlighted that the VAT on private school fees policy would make private school unaffordable; and it sounds like she is thinking about the amount that she is currently paying in tax; and wondering if she has the right work life balance.

It might be that even if (unlikely....) the Conservatives stayed in she may also choose to work fewer hours.

There's some good points that have been made on tax- and Labour is traditionally seen as a higher tax party- it is perceived as a party that would prioritise public services and support to lower income households. I'm not planning on voting conservative, but realise where the 'shy tory' phenomenon comes from- people on both sides of political debates should be able to raise points without getting shouted down

We are planning just this and amongst our friends (all decent earners) many of them are doing the same. I know one of my friends went part time and when her DCs hours came in she went back to 4 days and got offered a promotion, but as it's going to take them over the eligible for free 30hrs childcare threshold she's had to refuse it. She's sad because in her field promotions don't come up often but she cannot afford to be without the "free" 30hrs. Absolutely no point in working long hours to be taxed huge amounts. We all know once labour get in they will up taxes and hit the "well off" on the 60k and combined 100k for childcare threshold.

We all know once labour get in they will up taxes and hit the "well off" on the 60k and combined 100k for childcare threshold

Have you seen Labour's manifesto @Caffeineislife ?

haha!! That’s a good response actually you made me laugh thank you ☺️!

It's true, people tend to reduce hours, maximise pensions etc rather than leave purely because of the tax issue. We do obviously lose some skilled and highly paid workers to emigration, but I think there's usually other reasons for that. Situation in the NHS etc. So I never really believe the mass exodus claims either.

However, the problems with marginal rates and perverse incentives go way beyond higher earners. There are people on UC who face the issue of work not being worth it too. I think you're right that most people don't care about any one particular group of the people affected, but if there was more realisation that it happens across the income spectrum and is bad for all of us, they might.

Only the one that exists in his/her head, by the looks of things.

I agree - but that's a much wider point that needs to be addressed by progressive taxation and, really, a whole new governmental approach to the way people work.

Some facts please. If you are paying marginal 60% tax that means you earn over £100,000 a year and are therefore in the top 4% of earners, earning more than 96% of your fellow citizens. Yes, opinions can vary about how much tax such very high earners should pay, and yes, even people on £100,000 are not in the same league as, say, Rishi Sunak. But it is just factually the case that £100,000 is not remotely 'the middle' - it's actually nearly 3 times higher than the middle - and framing debates about tax in those terms is deeply misleading.

Definitely. The system we have now is a mess, and a very widely spread mess at that. Which is why I'm surprised it's taken OP this long to give her position any thought.

I am old enough to remember 1997 and the same dire predictions about a Labour win meaning the rich leaving the UK etc.

Yes, I must say I find that surprising too.

That sounds great. Your kids won't be taking up state places so you actually will save the country money.
Will you be able to replicate what you liked about their private school(s) in the home environment?

You're blaming the future government for how your life is now?

That’s precisely what Labour plans to do. Other than being slightly dismayed that self-funding has been taken amiss, most private school parents are genuinely concerned that grammar schools places that currently only serve 8.1% of kids from disadvantaged backgrounds, will be pushed out of reach for those who deserve them most. Kids who have never been coached, will be pitched against others who’ve been prepped for common entrance exams since they were 7. It’s fundamentally unfair for all involved and will push grammar places out of reach for those at the bottom. This is likely to make socioeconomic commuting much less easy, so will not create a more equal society, which is the very issue it sets out to address. Essentially the inequity in education is about to get much worse, as you watch the middle classes duck and swerve to create better odds for their kids. Shame on successive UK governments for making such a shambles of it. Sadly, taxing the super rich is what is required to underpin a series of very poor decisions made by both the Tory and Labour parties, they both fucking suck.

Can you specify, other than school fees, which Labour policies will make your life worse and why reducing your work hours would therefore be logical?

How is earning less money going to put private education within your reach? Your logic is nonexistent.

Sorry, this comes across as a very whingy and "hard done by" post.

Obviously, if you will be able to afford to spend more time at home with your children (or without), and you want to, then you should do it 🤷‍♀️

Being pushed for private school entrance exams isn't going to help them pass state school grammar exams. As for helping children fro disadvantaged background, where I live they lower the mark for those children and also the grammar schools themselves provide a small amount of coaching.