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.

You obviously think she should give you a big lump sum now ! If she has savings she is very sensible to keep them there so that she can ensure she is comfortable and has the care she needs in her very old age - as I don't imagine she is going to be looked after by her doting DC.

All those high earners with DC pensions need to pay more because how else are we going to cover the cost of the huge unfunded pension liabilities of public sector pension schemes - eg who else is going to pay the pensions of retiring high earning public sector workers - for example the 28.97% employer pension contribution we need to pay for every civil servant earning over £77,000 a year. After all we are all in it together.

UK doctors cannot practice in the US. Doctors cannot practice in the US unless they do their residency (roughly equivalent to junior doctor training) here, and residencies for doctors trained in foreign medical schools are scarce to the point of non-existence. Source is my American medical doctor daughter.

I think this is a good thing too... It seems a lot fairer than the archaic way of working it out at the moment, plus the huge discrepancies between councils.

Our house wasn't even built in the year they've chosen to base rates on... And we've been penalised because we have five bedrooms (except we're in a terraced townhouse with a tiny downstairs, so two of the bedrooms are really just an extension of our living space - the square footage of our house is no more than standard shaped houses with lower Council tax bands).

We currently pay £2600 a year in Council tax - our "land tax" would only be £1500 a year.

Seriously considering emigrating both due to potential CGT increases and inheritance tax increases. But since I don’t have to sell anything now I might sit it out - I think Labour is screwing up sufficiently for it to be a one term government. Some of the things will be easy headline grabbers for the Tories at the next election. Those who think it’s “hard stuff we need to do now to get Britain on track” are being naive. Labour is rabid ideologists and will continue to pursue left wing ideology rather than economic pragmatism.

Well it’s a bit premature. We don’t know what they are going to do, do we?

Nothing?

I earn too much. I don't work any harder than that nurse who earns a third of what i do. Its ok that i'll pay a bit more tax.

US salaries are vastly higher. Two families in our circle have already made the move (though within Europe). To use MN parlance ‘why don’t you move - you aren’t nailed to the spot’.

How would one person making voluntary contributions improve the country? People aren’t happy to pay more for nothing. They want to pay for improvements

This - me giving 5 grand that the government can't plan for and budget and rely on, it achieves almost nothing, compared with a planned tax which the government can use to fund services.

Government’s budget as a matter of fact given that top 1% of earners contribute 29% of income tax receipts - the largest source of tax for the government. And this category is really mobile. Top 10% contributors 60%. This category is less mobile but sufficiently so if a tipping point is reached. That’s before we take away their spending that drives economy as a whole plus VAT receipts.

US salaries are vastly higher. yes and life is shitter in many ways. My colleague does same job as me but in us. Crap maternity leave so she had to put a tiny baby in daycare. She gets barely any vacation and is under pressure to not take most of it. She works way, way more than me to earn that money. Her kids have to do shooter drills in school, and she had to pay a $5,000 co-pay on her health insurance for giving birth

I could move there (my job is very in demand there). I wouldn't!!

I am very high earner and I would consider leaving the country not because of tax but because of it becoming a shitshow with rundown infrastructure, bad medicine, lack of policing and dirty streets. And that’s why lots of people I know consider leaving. Guess who created this mess? Tories.

If this would get fixed I wouldn’t go somewhere for lower taxes. Like, where? Dubai? No thanks.
or the USA? No way

If you want to leave I hear Ireland and Switzerland are a good bet. Switzerland has very clean streets and lots of police. And the trains definitely work.

That’s a bit of a blanket statement if you don’t mind me saying. Obviously each family has to balance up the pros and cons- our baby making days are well and truly behind us, but I do agree re: US maternity bens. If you’re already paying for private healthcare (which would be funded by our employers either way) and private education (funded by employer during transition), the barriers probably seem much less shocking.

But the pp in question said they are looking forward to paying more tax because they feel they earn too much and don't pay enough. That person can pay more but actually choses not to and instead just chooses to virtue signal without actually following through..

absolutely. Many people in the UK already pay for schooling and health care so those things are not a deterrent.

Switzerland very much varies depending on the Canton. And are you settling in a Swiss German, French, Italian or Swiss Swiss area. Some areas are not welcoming to newcomers. They will be surface nice and polite, but making friends is extremely difficult.

i was just wondering about Southern Ireland last night but wasn’t sure if living there would actually free you from living under the rules/directives/whatever of the British govt?

Already moved this year, so nothing.

There already is a net outflow of millionaires from the UK, the third highest rate in the world, that predates the Labour government. I’m not sure why some posters think the wealthy won’t leave when they’ve actively been doing just that.

No I won’t be leaving my job. But taxing my pension contributions will mean I will never vote labour again.

This old nut again - you can see a doctor in most European countries because it’s insurance based and not free at point of use. Insurance removes a lot of issues we have in the NHS and makes funding/access more viable. Also, Belgium doesn’t tax capital gains which might be attractive for those with meaningful investment portfolios. Here we seem to be en route to tax everything!

Insurance and co pays means that people pay more for health costs, and there is some natural rationing via co pays.

@Julen7 the Republic of Ireland is a separate country to the U.K. and not subject to any control of the British government.

Yes, funnily enough, one of the families we know who have already relocated has moved to Brussels. Selling their UK house and taking their kids to an excellent Belgian state school was a small price to pay.

UK docs can't work in the US. US docs are licensed by the individual states and none of them will license a doc unless they've done residency (Jr. doc) in the US.