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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:
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10
Nadeed · 28/08/2024 17:38

CasaBianca · 28/08/2024 08:32

Sounds like the Brits then - from a Swiss who has been living in the UK for years. I have created friendships here with many people, mostly other immigrants.

Back the main topic: as a household we earn around 400k but this is almost halved after tax. In other countries (France for ex) we would pay way less tax as we have two DC, I’m always surprised this isn’t accounted for here.
We are in the process of closing a ltd company in case they decide to increase tax paid on profits when you close it. After that we are seriously looking at what we could earn in a few countries (France, Switzerland, Singapore).

No totally different. As Switzerland is a far less mobile population. We found most people had moved no more than a few miles from where they were brought up. They mixed with their family and school friends. They had no time to socialise with someone they had met as an adult.

Bobbybooo · 28/08/2024 17:48

OptimismvsRealism · 27/08/2024 11:23

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

It's nothing to do with the taxes. There's a shortage of professionals because of population aging, and we don't want immigrants do we

ilovegranny · 28/08/2024 18:14

OptimismvsRealism · 27/08/2024 11:23

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

What growth did we see under the Tories? Unless you’re Michelle Mone, of course. Public services decimated, which affect us all apart from the super-rich. Like PP I’m happy to contribute to a fairer society.

Lovetoplan · 28/08/2024 18:27

ichundich · 27/08/2024 11:55

We are seriously contemplating to leave. Our combined household income is over 130k, so that tax money will go to a different country with better public services, including enough decent state schools and healthcare. Also those saying not many people will emigrate because it's a lot of hassle - true, but you are forgetting that the UK is also becoming less attractive for highly qualified immigrants, who will feel they can get a better deal elsewhere. I wouldn't mind paying more tax IF my kids could go to a good state school that's not RI and in the news weekly for being awful, for roads without potholes, public transport and cycling routes to my village as well as better GP and consultant access. But none of that seems to be on the cards even medium term.

This

Lolaandbehold · 28/08/2024 18:27

We are asset rich through a life of hard work. It’s going to be grim. We won’t leave as we have a fabulous life (paid for from earnings of which we hand back 50% to the government to squander as they see fit.). We pay enough.
So we will increase pension contributions if that helps, have put property for DC into trust, exploit every tax loophole known to man and cut back on charitable givings.

After all now that labour is here who needs charity?

<ducks>

ItsAShame2 · 28/08/2024 18:42

For a start - I am going to stop donating to my son’s government school - and we will use these funds towards my daughter’s increased private school fees (moved her there for Sen needs).

I will start claiming government benefits that we are entitled to - but we never claimed as felt morally we did not need these savings. Like I am a ceoliac and entitled to products on prescription but think it’s daft uk tax payers pay for these, also entitled to disability benefits as can’t work but hubby supports me and felt I didn’t need to claim.

ItsAShame2 · 28/08/2024 18:46

Also, I forgot to add - I am not going to be so quick to use private health insurance as that puts premiums up so will consider using NHS services more.

CasaBianca · 28/08/2024 18:47

Nadeed · 28/08/2024 17:38

No totally different. As Switzerland is a far less mobile population. We found most people had moved no more than a few miles from where they were brought up. They mixed with their family and school friends. They had no time to socialise with someone they had met as an adult.

This is my experience in the UK, people happy with their school/uni friends and not willing to make the effort to make more. It could be us, but several foreign friends share this experience.

wasdarknowblond · 28/08/2024 18:51

I won’t be doing any tax dodging either. I have felt for a long time that we need to increase taxation if we want to live in a decent environment. You think we pay high taxes? Check out France; then take a look at their roads, healthcare and education. You get what you pay for!!

Nadeed · 28/08/2024 18:52

@CasaBianca That surprises me. Like many British people I do not live where I grew up and all my friends I see regularly I made as an adult. Makes me wonder if you live somewhere quite insular?

Gilmour15 · 28/08/2024 19:02

I'll happily pay more.

DroopyEyelids · 28/08/2024 19:15

Happy to pay extra in taxes if it means a functioning public sector. Husband is the same. Both well paid (not 6 digits but above average) and in professional occupations. Cultural differences I think exist here between north and south of uk.

TheGoddessMinerva · 28/08/2024 19:16

I’ll happily pay my fair share.

angela1952 · 28/08/2024 19:16

@OptimismvsRealism I'm selling a lot of my shares too, I've got a capital loss waiting to cover the gain. Knowing that the Labour Party would eventually come to power I also downsized from a large house to a flat and have given capital away to my family over the past few years, now mostly more than seven years ago.
I don't mind paying a fair level of tax and would never dream of doing anything illegal, but I'm not prepared to give away the money which I have worked long and hard for so that the Labour Party can give it to fit people who are not willing to work. Nor am I prepared to finance over inflation pay rises to relatively low skilled union workers.

AnnieSnap · 28/08/2024 19:19

OptimismvsRealism · 27/08/2024 11:23

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

Clearly, you’re not going to accept that some taxes need to rise in order to fund public services that have been stripped to the bone over the past 14-years. Surveys actually show that a majority of people would be happy to pay a bit more income tax for more money could go into the NHS etc. Despite that, Labour has no intention to increase income tax for those on 20%, or 40%. You’re just going to have to suck up the knowledge that your time is done for a long time. The Tories and their supporters have gone too far with asset stripping the country. As a result they/you will be irrelevant for a long time.

K0OLA1D · 28/08/2024 19:22

We only get 60k between us, but I'm still happy to pay more to get more. The education system, NHS and the police force are all on their knees.

Usercyzabc · 28/08/2024 19:28

Tiredalwaystired · 28/08/2024 16:50

There isn’t a question in the post I replied to.

Your comprehension skills leave much to be desired as I asked the question. Are you always this tiresome?

Portakalkedi · 28/08/2024 19:36

We are so called middle class with a reasonable income, and are not happy to pay more tax. We would however be happy to see multimillionaire companies and business people being made to pay what they should, and think the ridiculous pay increases to train drivers etc are completely unjustified, with lots more of the same to come no doubt thanks to Labour.

Usercyzabc · 28/08/2024 19:39

ClockBotching · 28/08/2024 16:57

It is really worrying though. We had a locum doctor staff grade and had so many complaints about him from patients. We did not renew his contract and told the locum agency. A colleague a few months later send me a link of his Harley St address and how he was charging £850 for a two hour assessment and report.

With a slick website too no doubt. The NHS is amazing when it functions as it should, and generally you pay to fast track to the same consultants through private, which I’m on the fence about.

I really feel grateful for consultants like you, who are dedicated to their vocation although bear the brunt of patient frustrations, and everything else that goes with trying to do their jobs but have all the bureaucracy and politics to navigate. I really hope things improve for everyone - there should be no need for private health care in a progressive society.

Nadeed · 28/08/2024 19:41

@Usercyzabc My DP has a rare condition. You can't actually pay to see someone privately who understands the condition. The specialist he sees covers a quarter of England. When he was first diagnosed the only specialist was in Edinburgh and everyone had to travel there.
People think they can buy anything, but it is not true.

StrawberrySwitch · 28/08/2024 19:42

Rigatone · 27/08/2024 11:20

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

Likewise. It’s a sign of a civilised society to pay into a pot to make sure everyone has access to health and social care. I’d rather that than dog eat dog, every man for themselves.

StrawberrySwitch · 28/08/2024 19:44

Nadeed · 28/08/2024 19:41

@Usercyzabc My DP has a rare condition. You can't actually pay to see someone privately who understands the condition. The specialist he sees covers a quarter of England. When he was first diagnosed the only specialist was in Edinburgh and everyone had to travel there.
People think they can buy anything, but it is not true.

Absolutely. And any one of us might need an ambulance, fire brigade or police at any point. Money can’t buy you emergency services.

Skodacool · 28/08/2024 19:48

CrimsonShades · 27/08/2024 11:25

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

Absolutely; it's only being speculated that there could be tax rises. Why not spend your energy lobbying the government to do something about the almost £40bn in tax that HMRC fails to collect annually?

Usercyzabc · 28/08/2024 19:51

StrawberrySwitch · 28/08/2024 19:44

Absolutely. And any one of us might need an ambulance, fire brigade or police at any point. Money can’t buy you emergency services.

There is no private Emergency Department in the UK which I pointed out before.

I have a condition which one of my DC inherited and we had to go private for this very reason, I have a family member who had to travel abroad for a related genetic condition they weren’t able to help because of specialisms, so not money can’t buy everything but it helps. I do not think it’s fair of course, medical treatment should be accessible to everyone irrespective of income.

Xenia · 28/08/2024 19:53

The tax burden is the highest for seventy years and those on £67k plus (top 10%) have had big tax increases since 2010 and everyone else reductions. So hitting those on £100k who already have effective taxes at the upper end of 6% plus as loss of single person allowance and indeed over 70% if they have 9% student loan tax and who don't get the 30 free hours (due to "high" earnings) and of course don't even get child benefit would be particularly unfair on them as they often have had to move to London and pay massive rents or mortgages so can end up with less left over than people on lower incomes.

Those people who would happily pay more tax you can give extra to HMRC. You can even pay off parts of the national debt or if you have spare money I am sure lots of mumsnetters would love to receive it.

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