To Stop Generating Taxable Income?

[GabrielsOboe]

Quite simply, I am done with being taxed to
death, whilst getting little or nothing in return from
the state.

What are you going to live on?

I’m not that fussed about income tax. The marginal rate bands are very stupid and need to be removed. It’s ludicrous taxes like stamp duty that annoy me.

What aspects are you feeling frustrated with in particular OP?

Taxed reserves/savings.

If you can afford to retire 100% go for it.

"Hey everyone I've got a lot of money and want to brag about it"

I'm playing my tiny violin for you 🎻

Of course then, if you have access to enough money for you to live well on that you have already paid tax on then, absolutely, go for it.

If you have enough money to live off without earning anymore then crack on.

Exactly - if I could live off savings I would! No way would I be working if I didn’t have to - holidays, gym, reading, walks - there’s the dream!

There is a flouncer's corner, I'm sure they will welcome UK life flouncers as well as Mumsnet ones.

What are you actually expecting from the state?

Nothing from the state? You don't expect the police to turn up if you need them? Or an ambulance? Or the fire brigade? You will never use any NHS service? You don't drive on roads, have your bins collected or children in school either now or in the past?

YANBU we’re getting to the point where more of my income goes to the state than me.

If you don't mind being unpatriotic (perhaps you could wrap yourself in the flag instead) go ahead.

Paying tax is the price we pay for living in a civilised society.

You may have private health insurance, but did your doctors go to public university? Same with schooling.

And if you are in a life threatening health situation,your private health insurance will not come to your aid.

Do you only drive on roads you yourself have paid for?

Do you want to live in a place where people are dying in the aggregator won't of any kind of health care?

As long as you don’t make use of any services made available through taxation (assuming you earn enough to pay and are choosing not to on principle) then go ahead.

Nothing?
no roads? No trained doctors and nurses? No bin collections? No one to look after the poor - you would rather they beg at the bottom of your drive for a scrap of bread?

Nope.

id be fascinated for you to explain how this is the case (it isn’t)

If you stop thinking of it as yours until after it’s been taxed you might cope better

If they earn between £100k and £125k their tax will be the equivalent of 60%.

www.sjp.co.uk/individuals/news/how-you-can-beat-the-60-tax-trap

Marginal tax, so only on that portion of income. Total tax will remain less than 50% whatever they earn…

But only on the part over £100k, not on the whole lot

Indeed. It will only be that slice of income earned between £100k to £125k that is 60%. More if you want to add in the NICs. 65% if you live in Scotland.

Oh and if you have a student loan to pay back then yes, that since of income you see very little of indeed.

It's not the tax but the frozen tax bands, ridiculous

It’s unlikely that you will be able to avoid tax altogether, so if you’re feeling too squeezed and you can afford it, you may as well minimise your tax for a while.

Frozen at £43k in Scotland!