Anyone else lost a bit of ambition now they’ve been taxed to the brink?

[Peasontoastt]

I used to be extremely ambitious and was really eager to reach some sort of financial security. As a consequence, I’m in what’s considered a highly paid career, I work hard and it took me many years to train.

Just as I paid off my student loan (which took many years), I then had a baby and returned to work to be stuck with the childcare dilemma. I struggled through that phase and have come out the other side but being taxed so much, no child benefit, still paying for nursery even though dd has ‘free’ hours now. It’s likely that savings are going to be bashed next, so what’s the point in even putting anything aside when there’s likely going to be a 4K cap on ISAs.

I used to feel so ambitious and of course I know money isn’t everything, not by a long shot. But having worked my way up the ladder and with huge responsibilities only to feel penalised financially for doing so…what is the point? Yes I have more financial security than someone claiming benefits but equally, I am not being flippant when I say a few years of resting and being at home and being frugal is starting to seem so much more attractive. Has anyone else started feeling this way? I feel taken the piss out of by every financial angle!

I think that is sort of the point. Lots of people think it is low tax because they personally don't contribute any - forgetting that the money has to come from the work of someone.

@BetterWithPockets How is someone earning 100k plus privileged? I’m a single parent of two. I own the salary of a couple combined. I scrape along in an expensive city. I’m trying to do the best for my family. Please save the judgements!
Also, well done to anyone out there, especially women, for pushing their careers when they want to. It should be something to be supported and championed not disdained. I can’t believe the disdain on here! It does feel hard to want to earn more but you’re caught in increasing tax traps, when you’re not actually rich or anything.

What a lovely refreshing post on a thread where so many are making sniping, spiteful remarks about other people's perceived circumstances. I hope you continue to be successful.

where did you move to? I am very interested in moving too!

If you don’t think earning £100k plus is privileged, I have no idea what to say to you! The average wage in the UK is under £40k.

What @TouchOfSilverShampoo said. Personally I’ve recently cut down to pt, am using every salary sacrifice scheme I can get and coasting on 99k while my kids are small. Why continue killing myself trying to push ahead while raising a young family when for all the stress and responsibility, 60p of every pound I earn is never seen - by my bank account or in improved public services. The issue also disproportionally affects women in the workforce, in case we didn’t already have enough obstacles to overcome.

I totally agree @Calidrisalba feeedom of choice is great and presumably if you’re earning that level of salary it’s also fairly interesting work with a good level of responsibility and autonomy. This is also worth everything to me.

Taxes are ridiculous in this country. Especially when you consider the extremely poor level of public services we receive. And all the people on benefits!

It can't go on. There has to be a reckoning, sooner or later.

Anyone else working at Conservative Central Office posting shit on Mumsnet?

@CeriseKoala I really applaud your attitude, and you look to have great resilience. I also am pissed off at government/s seemingly intent on destroying growth and disproportionately penalising people trying to get on in life.

No.

I feel proud to pay taxes and contribute. I don't want a crumbling health service, criminal justice system and education system. I want our country to have a future.

I don't want to live in one of those countries where support workers have no rights and are paid peanuts.

The thing that I hate most about the Uk is not taxation it's the selfishness and entitlement of the most privileged people.

Im just getting back to work after a break having had kids - I’ll be sticking to part time and below the higher tax rate… just not worth me earning over in time or tax!

No privileged, to be admired. We used to put up statues for the captains of industry now we insult them. Every person receiving benefits literally needs someone with high economic productivity to exist otherwise they would starve. Maybe they should allocate names so that people know who their benefactor is, then they could send a thank you Christmas card.

businessflop25

User name very apt!

But that's theory not real world.

I am a service provider in one business (not selling goods), and I had to absorb the VAT when it came time to register. So £100 became £83. I could not increase my price and remain competitive, so I just started paying it from my pocket. Many other small businesses are just like mine.

Furthermore, I have very few vatable expenses to reclaim and I do not qualify for the flat rate VAT scheme. Again, many other small businesses are just like mine.

VAT is a regressive tax and it stiffles the growth of many small businesses.

Turning round the economy is like turning an oil tanker - it takes time.

The Tories had fourteen years to run public service and the economy in to the ground. Mission accomplished.

The present Labour government has been in for a year. I can't think of anything they can do that won't be painful.

I feel like rather than high paid career women paying tax I should join the majority in ‘self employed’ claiming benefits and stashing the rest under the bed in cash.

As someone on pennies above minimum wage, no

@BetterWithPockets because a couple on under 50k are likely to actually have more take home pay than me from benefits and childcare hours. Yes, if you’re a couple both earning loads you probably do feel privileged. However, it depends on circumstances and how far above 100k you actually earn to make it worth it ( for the hours worked, lack of balance) You can’t just say everyone is privileged.

I bought some extra holiday days instead and held my salary at 99k.
But I didn’t coast - I still worked really hard and went for a major promotion and increased salary to 140k pa which did make a difference!

I'm sure you know someone on benefits so why don't you do it?

Go on, and get back to us.

Except you won't, just a malignant, beady-eyed post.

I don't see much difference between people not working more in case it affects their benefits and high earners who are stuffing money in pensions to get it under £100k and get the funded hours. Playing the system to get some benefits. One is not morally better than the other IMO.

If 30 hours childcare comes to Scotland so will every woman I know.

as a group of 6 new mums earning over 100k we’d all cut down to 99k to
get the childcare - currently would be worth 12k to us, that’s a 30k increase in pay I’d need to make 12k take home and I’d be away from my baby.
no brianer
but the government loses tax and pays childcare. What a stupid policy.

Oh my god do you not see that the reason we have crumbling public services is for years we haven't paid enough tax. Do you believe the guff about too much waste in the system? Well they're cut out so much 'waste' that people wait months for treatment, police don't bother investigating many crimes and teachers are buying their own equipment. Frigging marvelous!

Do you think everyone is happy with Labour? That’s only really on mn