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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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MereDintofPandiculation · 27/08/2024 11:58

It's not like we're knee deep in hospital doctors. We're not knee-deep in carers, nurses, teachers either. And I doubt whether many of them will be in a position to up their pension contributions or sell their shares.

InandOutlander · 27/08/2024 11:58

Nothing. I earn £65K with a great pension.

I have a good NHS doctors and dentist

I have access to great public transport

I don't need schools but also surrounded by great ones.

I'll happily pay for that.

HauntedBungalow · 27/08/2024 11:59

I'm about to play an absolute blinder and get made redundant. Take THAT, Mr taxman.

adidasclassicsanddance · 27/08/2024 11:59

Absolutely nothing. Decent societies and infrastructures cost money and I would rather live in a society where I pay more tax and we have money invested in schools, hospitals, transport, fair wages and services.

DP and I earn more and therefore should pay more, for us it's that simple. Plus both of us remember what it was like to not earn as much so we will not be pulling the ladder up behind us.

GoldOnyx · 27/08/2024 12:00

HauntedBungalow · 27/08/2024 11:59

I'm about to play an absolute blinder and get made redundant. Take THAT, Mr taxman.

Well I just hope for your sake that the payment isn’t over £30k…

ClaudiaWankleman · 27/08/2024 12:00

GoldOnyx · 27/08/2024 11:55

No, but it’s not ‘morally right’ either. Something can be both ‘not morally wrong’ and ‘not morally right’.

Yes but in the original response they don't take that middle ground - they told someone to leave the country. they were at the very least insinuating it was wrong.

MereDintofPandiculation · 27/08/2024 12:00

ClaudiaWankleman · 27/08/2024 11:51

But it isn't morally wrong.

It's not legally wrong. But it's not morally right.

ReadWithScepticism · 27/08/2024 12:01

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.

The 'highly mobile people in medicine' are far more likely to be retained as a result of wage increases that help to reverse the effects of below-inflation pay rises over the years. And what do you need in order to pay health professionals a decent wage? Oh, yes, fairer tax contributions from the better off.

Tax is good. I'm proud to pay it. I'm only at the basic rate but I would gladly see that go up, provided that the rich and privileged are required to pay a fair rate.

PresidentBarklett · 27/08/2024 12:01

I won't. I'll pay my taxes like a responsible member of society. Good lord.

Sunsgoingtokeepshining · 27/08/2024 12:02

KnittedCardi · 27/08/2024 11:57

Which is actually "fair". The trouble with this country, is that all those low and middle earners don't expect to pay extra. They all expect the "rich" to pay, not them. As a pp said, there aren't actually enough "rich" to cover it.

Most of our European neighbours have higher income tax at lower levels.

And we are all too skint due to ridiculous housing costs in this country to pay such high amounts of tax. Housing is our biggest problem by a mile.

Backwoods57 · 27/08/2024 12:04

I saw the writing on the wall and already left the country. Why play a loosing game in the UK?

I wanted the best for my kids, and the ability for us as a family to succeed. The UK can't provide that.

GiddyNavyJoker · 27/08/2024 12:04

oldwhyno · 27/08/2024 11:46

It's morally right to make use of the legal structures that exist to mitigate your tax payments. If you can pay less tax by using an ISA or a Pension, or gifting some money within HMRC rules before you leave a big inheritance tax bill, it's morally right to do so.

I disagree. Just because it's legally right, doesn't make it morally right.

Nadeed · 27/08/2024 12:05

Rich people will always say they will fuck off. They rarely do.
In the meantime lots of low paid workers have stopped working and everyone is up in uproar about how no one wants to work anymore.
We all have choices. Do what you want and stop bleating about it. Rich people seem the biggest moaners around. It is very boring.

ISeriouslyDoubtIt · 27/08/2024 12:05

Starmer has confirmed that the tax rises won't be on income tax or NI, so many/most people won't be immediately impacted at all.

Nadeed · 27/08/2024 12:06

GoldOnyx · 27/08/2024 12:00

Well I just hope for your sake that the payment isn’t over £30k…

Only rich people get redundancy payments over this amount. You should be taxed on it then.

CoatesCat · 27/08/2024 12:06

The bankers bonus cap is gone too so the type of banker who could to afford to pack up their whole families and move them to another country cause they don't want to pay more tax just got another I centive to stay.

Anonym00se · 27/08/2024 12:07

I’m also happy to pay more. We’re very comfortable and have done well over the past few years, while poorer people have suffered awfully. I think it’s only fair that we who can afford it should now take the baton. Our lives will still be comfortable, but if we have to forfeit a holiday a year, or keep the car for a couple more years then it’s not really a major hardship.

OptimismvsRealism · 27/08/2024 12:08

GoldOnyx · 27/08/2024 11:56

Belgium isn’t just Brussels haha

No but it's not very nice. Weird how it compares to NL.

OP posts:
Mitsky · 27/08/2024 12:09

Nothing.

And within my extended friendship group of mostly middle class professionals in London, absolutely no one would leave the country.

ChickenandaCanofCoke · 27/08/2024 12:09

"I saw the writing on the wall and already left the country. Why play a loosing game in the UK?

I wanted the best for my kids, and the ability for us as a family to succeed. The UK can't provide that."

Where did you go and what tax do you pay now that means you're not playing a losing game?

GiddyNavyJoker · 27/08/2024 12:09

Nadeed · 27/08/2024 12:06

Only rich people get redundancy payments over this amount. You should be taxed on it then.

Dont be silly. As someone who has worked in pensions all my life, I've seen a fair few "normal people" I.e. gas engineers getting over £30k redundancy. Anything over 30k usually gets put into a pension anyway.

GoldOnyx · 27/08/2024 12:09

Backwoods57 · 27/08/2024 12:04

I saw the writing on the wall and already left the country. Why play a loosing game in the UK?

I wanted the best for my kids, and the ability for us as a family to succeed. The UK can't provide that.

Where did you go to?

Alwaystired94 · 27/08/2024 12:09

Anonym00se · 27/08/2024 12:07

I’m also happy to pay more. We’re very comfortable and have done well over the past few years, while poorer people have suffered awfully. I think it’s only fair that we who can afford it should now take the baton. Our lives will still be comfortable, but if we have to forfeit a holiday a year, or keep the car for a couple more years then it’s not really a major hardship.

I'm nowhere near comfortable but also happy to pay more for a functioning society and public services.

Anyone who doesn't want our country to have better access to doctors, better funded schools and so on wants a failing country for selfish reasons. What is the downside to using those hypothetical higher taxes to ensure our society is better?

CowTown · 27/08/2024 12:09

Rigatone · 27/08/2024 11:20

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

Just out of curiosity, what is the maximum extra you’re happy to pay per year?

BESTAUNTB · 27/08/2024 12:10

Mitsky · 27/08/2024 12:09

Nothing.

And within my extended friendship group of mostly middle class professionals in London, absolutely no one would leave the country.

Same here but the South West not London.

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