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.

"Labour Tax Hikes"

Is this thread bought to us by CCHQ? Sounds like a Daily Express headline.

Tax rises are inevitable considering the state of the nations finances. Any party coming in would have had to raise tax, or massively slash spending.

Morally right would be to ensure that no one was going without and giving your money to a charity

Putting your money into your pension is just a financial choice

I don't mind paying more tax if I thought I'd get something out of it. The reality is that all of our public services are geared up to people who don't or can't work. And they get priority. I'm just a cash cow who can't get a GP appointment, probably will get means tested out of my state pension and have just moved my DS from a state school because the feral kids in his class take up all the teachers time.
I'm not wealthy enough to do any form of 'tax planning' so will likely just have to suck it up. And 'be grateful' I have a job and can pay the bills.

Are you planning on contributing anything to this conversation or just question everyone?

It's a bit of a random question considering its not a set amount, everyone earns different amounts....

PSA: to all of those who think life was so much better under the Conservatives and who want to return that, worry not - they will be back soon enough. And we can go back to moaning about transport strikes/NHS strikes/crumbling schools, hospitals and courts/sewage-filled rivers/people dying in hospitals whilst they’re waiting to be seen/people working 2/3 jobs and still not being able to make ends meet/children going to school hunger and dirty because their families can’t afford enough food or utility bills/refusing to prepare for a pandemic and acting surprised when one comes along and ravages us.

I'm in Scotland. Most people I know are quite relaxed about paying a bit more tax to support a fairer society

And I don't see professionals leaving Scandinavian countries in droves

I'm a bit fed up of the constant scaremongering that asking people to contribute to a fairer society will result in them fleeing the UK like rats deserting a sinking ship

Is it immoral for me to open an ISA?

Exactly.

I don't understand how those who 'can't/don't work' could be seen to get priority for our services? Can you provide an example?

Agreed. The roads are horrendous. (I’m referencing Belgium, not Brussels.)

Looking at the offer of transferring the team to NYC office.

Well, yes, in a way - if you’re not also contributing to charity. We all have a moral obligation to contribute to society. Whether or not you do that depends on your own morals though, doesn’t it.

@OptimismvsRealism has Labour announced tax changes? What is changing?

Sorry?

@ichundich but those countries are likely making things work so well precisely because people pay more tax.

As @RoseUnder says: "Living in a nice country costs money."

I grew up in a 'high taxes, amazing public services' Northern European country and there was ‐comparatively‐ brilliant equality and fair distribution of resources. Most importantly, people generally didn't whinge like spoilt babies about making decent tax contributions in return; complaining about taxes would be about as cringey as wetting oneself in public. This may be because there was also a much stronger collective narrative of cohesion and willingness to act for the benefit of the greater good. No stoking of divisive discourses or cynical pitching of 'hardworking ordinary families' against 'feckless benefits scroungers' etc.

Our household income is less than half of yours, and I'd still be thrilled to make higher tax contributions because it'll benefit someone worse off than me.

Exactly the same I have been doing to hide my money away from Tories - moving money into the private pension. Tories kept the income threshold frozen for so long that people traditionally not thought off as high earners ended up being dragged into the higher rate tax bracket. £55k in London is nothing if you the main breadwinner with 2 dependants. I refuse to be taxed at 40% - thankfully my teenagers are not asking for smartphones

This is another one of these mumsnet conversations that I end up feeling like I’m in a parallel universe.
All these paragons who are apparently so happy to pay out more of their earnings!
I know a lot of people from a lot of different walks of life and none of them would say they are happy to pay more tax.
They all will do it. None of them have off shore bank accounts or are planning a move to a tax haven but they’re not happy about it!
It’s amazing how wonderful and moral you can be when no one is actually watching to see if you follow through.

Sold my rental property before the Gvt clobbered evil landlords. New owner was cash buyer who mostly works abroad wanting a London base.
So direct consequence of Labour politics of envy and spite is fewer rentals available.

Working for a global with an in demand skill set. Already pay extortionate amounts in tax. Many globals are offering people relocation packages for those who are skilled enough. Easy.

I have on many occasions, but I am settled here and earn close to six figures, have private health insurance, generous shares etc. which I am going to hold onto for a few more years so that even with higher CGT I will be quite well off.

I am extremely lucky indeed, I have to pinch myself sometimes as I come from nothing, but no matter your circumstances other countries are managing tax and social/healthcare systems much better. Someone on the equivalent of £40k in another large western European country would have a visibly higher standard of living there. Even people on benefits have a higher standard of living. Renters have more rights. Evictions are almost unheard of. The list goes on. People there moan too 'because refugees' but ultimately the standard of living is higher.

I’ll be fine paying my taxes. I’m in the middle of a cancer battle, the NHS have been incredible, I’m so grateful to be receiving a really high level of care.

Out of interest, how much extra per year are you happy to pay?

I came to the UK from the States, and I’ll just say no one really knows what it is like to be an immigrant until they experience it. It is not just the hassle of moving, but the bureaucracy and feeling like an outsider…plus being away from family. I wish you the best in whatever decision you make. I also consider the NHS so much better than American healthcare, so it is all relative, isn’t it?

They have said they need to raise a lot of money which shouldn't be headline news anymore than the world turns on it axis

They haven't said where from yet - it's still unlikely to be a hike in income tax or national insurance

It's still likely to be unpopular

Hopefully it will still target unearned wealth and rich - currently you can inherit a fortune ( enough to buy a decent house in London ) without paying tax for example

it can be used by your Mum to pay for care if she needs it in the future.

my mum worked and saved hard all her life. At 86 she is in a care home fully funded by her savings, pension and the income she receives from renting out what was once her home. She is lucky to be able to do this but given she still is a tax payer despite all this I hope nothing happens to take more tax off her!