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

[OptimismvsRealism]

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.

Yes, exactly. One of the big problems we have (compared to, for example, the Scandinavian countries that people like to hold up as a beacon of an example!) is that we have so many economically-inactive people. We need more people working and paying taxes (rather than just increasing taxes).

And not only are some of the economically-inactive not contributing, but they are taking, making the situation even worse.

This is what people voted for - I won't be selling my shares and worrying about CGT? because I don't have any. But I would like to see rich people paying their fair share to keep the lights on, the roads paved, the ambulances running, the fire brigade coming out, the prisons and borders secure as well as all the hundreds of things a civilised country does.

People don't leave because of higher taxes. There's plenty of people enjoying life in Scandinavia. That's a lie told by rich people in the West to scare us into not taxing them.

Bring it on. Let's invest in Britain and it's people again!

Where did you get that from? Can you post a link to that?

bth, there is no IHT in Scandi and yes, they are taxed heavier, but at the bottom end. Higher earners are taxed the same as here

bmmagazine.co.uk/in-business/radical-land-tax-proposal-gains-traction-with-support-from-across-the-political-spectrum/ bmmagazine.co.uk/in-business/radical-land-tax-proposal-gains-traction-with-support-from-across-the-political-spectrum/]]]]

I dont understand. how does reducing your hours mean you have more money? and whats with the £50k £100k brackets. if you are a doctor I understood that you got more pension allowance recently so not such an issue. if you arent, what am I missing here?

I came here looking for suggestions of tax loopholes. 'Move to the UAE' wasn't really on my radar. 😂

Seriously, I'm originally from a country that taxes you for fun. The difference is, back home I'm never waiting in the emergency room for 9+ hours, school was well-organised and public transport ran (mostly) on time - although that is not the case nowadays.

Most people don't mind tax if it's viewed as fair (it certainly isn't over here), and if things work efficiently. Spoiler alert : they never will.

Huh? You make it sound as though the taxpayer have a say in what taxes are spent on…

Well indeed; the ignorance around how easy it is to still live and work in Europe is staggering. You don’t need that much of an income, or have one of many many skills, to easily be welcome in most EU countries. Assuming of course that you speak the language. Which seems reasonable to me.

https://uk.news.yahoo.com/home-not-safe-labour-prepare-185800429.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAADzx4PcUmfeLYmX2PItggQ3QRwUVUJev9QC67rQSJZIvA3GrE3xTxSggrAdzeyLUAc1DgMZzXiQVy_Tm_Oh_ZEVO82umqtuihdqDrITWYngyHdURKcpgjfHvS7wj1QEZShTHGIdx-qXXX9CoyfTd47MphghkXD6j0SZGzZQb-Ox-]]

This is a telegraph article which sets out the full set of rates being mooted

0.44 per cent levy on homes worth up to £500,000, with a minimum payment. 0.54 per cent annual tax on homes worth above £500,000, with an extra 0.28 per cent supplement on values over £1 million.

I do not trust what the Telegraph says. But if this did happen, I would have to sell up.

Neither do I but this isn't just being reported in the telegraph.

We would also have to sell

But prices would also crash

Sweden's tax rates are quite a bit higher than the UKs, VAT is 25% and higher rate is 53% (uk 45%) but they don't wait 18hrs in AE, don't need private schools, don't need expensive repairs following pot hole damage, don't need private healthcare and don't have to fork out 1000s for dental care.

Lower taxes come with other much more expensive costs.

Thanks. The whole thing is being pushed by a campaign group and there’s no suggestion whatsoever in the article that the government is seriously considering it. Nice try though!

"WAAAAAAAAHHHHH!!!!!!"

My toddler felt like this earlier, too. You're not alone OP.

Scotland’s “retention problem” existed long before the powers to vary income tax were exercised though. There’s less opportunity/ no opportunities in certain fields (I work for an accountancy firm, my team takes 1 graduate a year, our London team take 20-25). If you want to experience life in a city bigger than Glasgow, you need to move.

There was a lot of noise on LinkedIn about the latest Scottish budget meaning all our talent will move south, mostly by tax professionals looking to sell advisory services.

So hard to understand why the torygraph Telegraph is talking constantly about hypothetical Labour policies.

Ikr 😂😂

It says it will replace council tax. 0.54% of the value of my house is exactly what I pay in council tax currently.

If you read the hypothetical suggestion, surely you'd be better off not selling?

To ease the transition, the group has suggested capping the additional cost for wealthier households until they move, at which point they would benefit from paying no stamp duty.

Our Reform voter is back, same Labour bashing different day......Yawn

Council Tax has to go, millions can no longer afford the annual 5% increase, so a land tax replacing CT might be a good thing.

Why should someone in a 3m mansion pay just 2.5x more CT then someone in a 300k band D house

Please stop spreading calm in this irresponsible way.

This thread is a place for panic only.

I think you're a bit out of touch with what doctors earn compared to hedge fund managers.
Especially those who are still paying off student loans.