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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

To ask what you'll be doing to avoid the Labour tax hikes

1000 replies

OptimismvsRealism · 27/08/2024 11:20

Pension contributions
Gift aid
Selling my shares now while CGT is relatively low

What really worries me is that all the professionals we actually need to want to be here will just fuck off elsewhere, though.

It's not like we're knee deep in hospital doctors.

OP posts:
Thread gallery
10
Rigatone · 27/08/2024 11:20

I won't. I'll happily pay into a fairer society.

OptimismvsRealism · 27/08/2024 11:22

Rigatone · 27/08/2024 11:20

I won't. I'll happily pay into a fairer society.

It won't be fairer, though. I won't see a single advantage from it. Which I think is unfair. (I didn't vote Tory as they're insane but I refuse to believe that two forms of insanity are the only option).

OP posts:
TokyoSushi · 27/08/2024 11:22

Nothing really, it is what it is, but as a £50K earner I'm hoping the effects won't be too terrible.

OptimismvsRealism · 27/08/2024 11:23

TokyoSushi · 27/08/2024 11:22

Nothing really, it is what it is, but as a £50K earner I'm hoping the effects won't be too terrible.

The main problem for middle earners is you'll continue to find it very hard to see a doctor, dentist, etc. And growth will remain low so public services won't expand

OP posts:
cupcaske123 · 27/08/2024 11:23

OptimismvsRealism · 27/08/2024 11:20

Pension contributions
Gift aid
Selling my shares now while CGT is relatively low

What really worries me is that all the professionals we actually need to want to be here will just fuck off elsewhere, though.

It's not like we're knee deep in hospital doctors.

What really worries me is that all the professionals we actually need to want to be here will just fuck off elsewhere, though.

You see that happening do you? Streams of professionals and their families heading for the airport because tax has gone up.

OptimismvsRealism · 27/08/2024 11:24

cupcaske123 · 27/08/2024 11:23

What really worries me is that all the professionals we actually need to want to be here will just fuck off elsewhere, though.

You see that happening do you? Streams of professionals and their families heading for the airport because tax has gone up.

Yes. Especially with highly mobile people in medicine. Same is happening in finance which is a problem for the tax based but less so in terms of anyone actually needing an emergency hedge fund manager.

OP posts:
Maddy70 · 27/08/2024 11:24

Nothing. I earn more and expect to pay more for a fairer, better society

mynameiscalypso · 27/08/2024 11:25

Rigatone · 27/08/2024 11:20

I won't. I'll happily pay into a fairer society.

This. We are higher rate taxpayers and I have no problem paying more. There needs to be more money for health/social care/education/law enforcement and it has to come from somewhere. We have enough money.

SpanThatWorld · 27/08/2024 11:25

Yep, all those junior doctors who stuck with the NHS through the poisonous industrial action will definitely be leaving due to changes in Gift Aid.

CrimsonShades · 27/08/2024 11:25

Would love to see evidence for your assertion that swarms of professionals are going to quit their jobs.

SensibleSigma · 27/08/2024 11:26

Hopefully people like mum will take the brunt. She has an awful lot more than she needs. Her income is the same as ours, though she doesn’t work, let alone savings. She doesn’t give any away or pay people much for help around the house.

Her money just sits in investments growing.

Her DC will appreciate assuming she doesn’t leave it to a cat sanctuary or need a lot of care.
I at least will be using my share proactively, should it come while I’m young enough to make decisions about it!

OptimismvsRealism · 27/08/2024 11:27

CrimsonShades · 27/08/2024 11:25

Would love to see evidence for your assertion that swarms of professionals are going to quit their jobs.

Scotland already provides the evidence with it's higher tax and massive retention problem.

OP posts:
ThreeFeetTall · 27/08/2024 11:28

Is income tax changing?

kitchendiscotime · 27/08/2024 11:31

I'm not going to be smug and say "nothing because I'm an amazing selfless person" but the truthful answer is ... nothing. I don't have time to look for loopholes that will enable me to keep more of my earnings. I have private healthcare and dentistry so I'm alright jack but actually I would welcome greater funding for the NHS and my kids' state school. Overall I don't mind paying in a bit more, let's see what Labour do with it. The country can't get any more fucked than it was under the previous government.

Peonies12 · 27/08/2024 11:32

Rigatone · 27/08/2024 11:20

I won't. I'll happily pay into a fairer society.

Me to. Happy to pay more tax.

GoldOnyx · 27/08/2024 11:34

OptimismvsRealism · 27/08/2024 11:24

Yes. Especially with highly mobile people in medicine. Same is happening in finance which is a problem for the tax based but less so in terms of anyone actually needing an emergency hedge fund manager.

Realistically, the only place for doctors to move to is Australia, NZ, the US and Canada, as most of them probably don’t speak another language well enough to move to a non-English-speaking country (and to do all the training needed to be a qualified doctor in that country).

Australia and NZ are both very far away from the U.K. and with huge time differences, so that is a major move. The US and Canada are closer, with a smaller time difference, but it’s still a big move. People won’t uproot themselves - and their families, if they have a families - for that sort of move unless they’re desperate.

Anyone wanting to move to these countries will also need to get a work permit and a job there, and also find somewhere to live, before actually moving there. It takes months to do all of that - at least a year.

So if they’re moving there between now and say Christmas, they would have had to start planning the move a year ago. Given all of that, I don’t think we’re going to see a massive exodus of doctors any time soon.

In fact, I’d suggest they’d be tempted to stay because, unless they already planned to move, it’s a big hassle for them to move and their wages will also (finally) go up under Labour.

mugglewump · 27/08/2024 11:34

This is a non-news thread since nothing has been announced yet - just some Tory scare-mongering. Besides, the tax burdon should be greater for those most able to pay, and most people who earn enough to have a comfortable life-style are not going to leave the UK because they have to pay a bit more tax. And for doctors - it's the juniors who are leaving to earn more abroad because their pay is relatively low, not the consultants on the high salaries.

GoldOnyx · 27/08/2024 11:35

OptimismvsRealism · 27/08/2024 11:24

Yes. Especially with highly mobile people in medicine. Same is happening in finance which is a problem for the tax based but less so in terms of anyone actually needing an emergency hedge fund manager.

Who needs an emergency hedge fund manager? 🙄🙄

SensibleSigma · 27/08/2024 11:36

Part of the problem is taxing only those with an awful lot doesn’t raise much. There aren’t many of them.
They need to tax people who will feel the pinch as well. Because there are lots of them!

User14March · 27/08/2024 11:37

The recently qual docs I know are working in man consultancy earning a fortune and/or considering a role in Aus.

RacingGreens · 27/08/2024 11:38

OptimismvsRealism · 27/08/2024 11:20

Pension contributions
Gift aid
Selling my shares now while CGT is relatively low

What really worries me is that all the professionals we actually need to want to be here will just fuck off elsewhere, though.

It's not like we're knee deep in hospital doctors.

Paying more.

I'm a hospital doctor married to a hospital doctor.

KellyJonesLeatherTrousers · 27/08/2024 11:38

Another one who will happily pay more if it funds a healthy NHS and decent school choices for everyone.

seeminglyranch · 27/08/2024 11:38

GoldOnyx · 27/08/2024 11:35

Who needs an emergency hedge fund manager? 🙄🙄

I think you missed the joke.

Hyperion100 · 27/08/2024 11:40

I think you'll be surprised when you find out how much other European/developed nations contribute in tax.

The UK is firmly middle of the pack.

RoseUnder · 27/08/2024 11:41

Nothing.

Living in a nice country costs money.

Someone pays. Even in those countries you dramatically assume professionals will migrate to (not true).

Even those utopias cost money to be nice. Nice including fair and equal and compassionate - not nice as in good for the rich and rubbish for the poor.

It doesn’t grow on trees.

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