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"That’s taxes….not taxis by the way… (a thread for another day) 😜 Ey up good folks 👍🏻😃 Which tax you do most begrudge paying? Alternatively, which tax do you believe to be the most inequitable? Taxes…..discuss 👍🏻" This belongs in the politics section | |||
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"I'd say the stealth tax on my will to live every time I look at my payslip. But if we're talking inequitable, inheritance tax feels like being fined for having responsible parents! " Or rich parents. It only kicks in at £325k. Suspect that troubles a well off minority only on here | |||
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"VAT... apparently it was brought in for non-essential goods. Now it applies to all goods. If right, it should at minimum be reduced, or properly reviewed to what is deemed non-essential in modern age. " VAT does not apply to all goods. There’s none for example on fruit and veg and children’s clothes. | |||
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"I don't really begrudge paying tax, to help support society and our infrastructure. " 
I want functional schools, hospitals, roads, etc.
I've benefited from taxes, I want others to benefit too. It's a virtuous circle. | |||
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" if we're talking inequitable, inheritance tax feels like being fined for having responsible parents! Or rich parents. It only kicks in at £325k. Suspect that troubles a well off minority only on here " It affects the majority of home owners | |||
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"VAT... apparently it was brought in for non-essential goods. Now it applies to all goods. If right, it should at minimum be reduced, or properly reviewed to what is deemed non-essential in modern age. VAT does not apply to all goods. There’s none for example on fruit and veg and children’s clothes. " I've just looked bread, milk, fruits, vegetables, meat, fish, and cereals. I can't imagine the add on cost if it were on them. | |||
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"VAT on sanitary products. There’s no VAT on a men’s razor, because it’s deemed an “essential”, but women pay VAT on sanitary products. Boils my piss 😂" That is very good point. | |||
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" if we're talking inequitable, inheritance tax feels like being fined for having responsible parents! Or rich parents. It only kicks in at £325k. Suspect that troubles a well off minority only on here It affects the majority of home owners" "Home owners" This is the exact argument to have an inheritance tax. | |||
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"VAT on sanitary products. There’s no VAT on a men’s razor, because it’s deemed an “essential”, but women pay VAT on sanitary products. Boils my piss 😂" Everyone pays it on toilet rolls too... for reasons..? I don't know how a fridge, sofa, clothes, arguably a TV/PC aren't an essential | |||
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"Inheritance tax can be tough as often the money has already been taxed. All the other taxes go to building a country in which there is at least a baseline for everybody. " How has inheritance tax money that has already been taxed? | |||
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"I'm not very keen on the new Penis Tax of £100pa on every inch over 7 inches. I knew I shouldn't have done a self assessment 🤦♂️" I love it. Rebate coming my way Leo. | |||
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"I'm not very keen on the new Penis Tax of £100pa on every inch over 7 inches. I knew I shouldn't have done a self assessment 🤦♂️ I love it. Rebate coming my way Leo." I'm sure mine is shrinking so hopefully I can claim depreciation next tax year. | |||
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"Inheritance tax can be tough as often the money has already been taxed. All the other taxes go to building a country in which there is at least a baseline for everybody. How has inheritance tax money that has already been taxed?" Income tax? | |||
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"All of them. We get no value for what’s paid into the system. It’s largely wasted and mismanaged. " Totally agree, have a look where u start to pay tax to where it finishes.. work, pay taxed… food/clothes taxed, fuel taxed, pensions taxed, savings taxed, drink, entertainment, fags taxed.. death taxed.. | |||
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"Honestly most of them. I pay tax on my income, tax on things I buy, tax to own a vehicle. All if it is tax on tax on tax. Then when I die, my stuff will be taxed again..." As the saying goes, if we work and save, we’ll be taxed to death | |||
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"Some call it a tax, but it’s not really.. I begrudge the TV licence, I pay it, but I don’t want to. Watching MOTD, the rugby and the news so by definition I and required to pay it." I dont watch bbc or live tv so i don't pay. It is a choice. | |||
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"Some call it a tax, but it’s not really.. I begrudge the TV licence, I pay it, but I don’t want to. Watching MOTD, the rugby and the news so by definition I and required to pay it. I dont watch bbc or live tv so i don't pay. It is a choice." Ditto. They're a bit aggressive about the opt out stuff, and I'm not a fan, but they're most welcome to come and inspect my TV stand. They'll find a CD player on it  | |||
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".Income tax?" What's income tax got to do with it? You said: Inheritance tax can be tough as often the money has already been taxed How is inheritance tax; money that's already taxed? I've heard this statement several times before, and it makes no sense. Just wondering if you might be able to explain it. | |||
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"I'd say the stealth tax on my will to live every time I look at my payslip. But if we're talking inequitable, inheritance tax feels like being fined for having responsible parents! Or rich parents. It only kicks in at £325k. Suspect that troubles a well off minority only on here " If you live in the south an ordinary semi comes close to that. | |||
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"I don't begrudge paying taxes as often they give us lots of benefits e.g. the NHS but I do begrudge the way the taxes are managed and utilised and in many cases pissed up the wall. But not to sit on a fence Income tax would be the one though when you think about the amount you pay over your lifetime makes me want to cry. "
Income tax is, and will be the largest payment the majority of people pay over their life. | |||
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"All of them. We get no value for what’s paid into the system. It’s largely wasted and mismanaged. " this I totally agree with | |||
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"I'd say the stealth tax on my will to live every time I look at my payslip. But if we're talking inequitable, inheritance tax feels like being fined for having responsible parents! " If they were responsible parents their children and grandchildren would have used the money to experience things while they were living... Otherwise it shouldn't be a lottery win on someone dying.. THEY are dead the money was theirs so ANY amount regardless of taxes should be appreciated versus expected. | |||
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"Inheritance tax can be tough as often the money has already been taxed. All the other taxes go to building a country in which there is at least a baseline for everybody. How has inheritance tax money that has already been taxed?" Because everything left to be inherited has been paid for with money that has already been taxed. | |||
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"VAT on sanitary products. There’s no VAT on a men’s razor, because it’s deemed an “essential”, but women pay VAT on sanitary products. Boils my piss 😂" The tampon tax was abolished in the UK on January 1, 2021 after the UK left the EU, meaning there is now a zero rate of VAT applying to women's sanitary products. | |||
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""Because everything left to be inherited has been paid for with money that has already been taxed" The stocks, shares and savings one owns are "paid for with money that has already been taxed", but tax has to be paid on any interest, same as for the profit on the weekend cottage or the Renoir. When the children inherit property worth a million that Mum and Dad paid fifty grand for, I don't see the difference. Personally, I hope to be able to budget carefully enough for my will to read: "Being of sound mind and body..... I've spent the bloody lot"" It's up to 25% tax free (private pensions) to take from 55 onwards after 75 it's classed as income.. so I still blame those rocking in their geriatric recliners and the kids waiting till Gramps or mom is dead to start wanting someone else's money... Gvmnt included | |||
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"Road tax. Because up here they have cleverly designed roads to meander carefully around massive fucking potholes." You've never paid Road Tax, it was abolished in 1937. You pay Car Tax (or Vehicle Excise Duty if you're feeling picky). And the money from Car Tax isn't spent on roads. "VAT on sanitary products." The "tampon tax" was abolished on day 1 of Brexit. It's the very first "Brexit Benefit" (if you're female). | |||
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""Because everything left to be inherited has been paid for with money that has already been taxed" The stocks, shares and savings one owns are "paid for with money that has already been taxed", but tax has to be paid on any interest, same as for the profit on the weekend cottage or the Renoir. When the children inherit property worth a million that Mum and Dad paid fifty grand for, I don't see the difference. Personally, I hope to be able to budget carefully enough for my will to read: "Being of sound mind and body..... I've spent the bloody lot" It's up to 25% tax free (private pensions) to take from 55 onwards after 75 it's classed as income.. so I still blame those rocking in their geriatric recliners and the kids waiting till Gramps or mom is dead to start wanting someone else's money... Gvmnt included " But also should 75 now not be 77 in the statement above is that not another stealth Tax raise the age of retirement but not the 75 CLASSED AS INCOME. | |||
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"Didn’t somebody somewhere once calculate that after income tax and national insurance, plus tax’s, levies and vat on everything we all buy essential and non essential, we've paid a total iro 63% tax. " I think if you realy look in to it it's more than then that. Let's face it Tax, NI on income to be able to pay Council tax and Vehicle excise duty. So this is 135% Tax | |||
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"VAT... apparently it was brought in for non-essential goods. Now it applies to all goods. If right, it should at minimum be reduced, or properly reviewed to what is deemed non-essential in modern age. VAT does not apply to all goods. There’s none for example on fruit and veg and children’s clothes. " VAT is a tax on goods and services. It can get messy for example newspapers are zero rated which means it could have vat added. If you are self employed then you can not charge vat on labour. Food is exempt except luxury food like cakes and ice cream. Take away hot food has no vat while sit in hot food has vat added or is that one the other way a round. | |||
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"Didn’t somebody somewhere once calculate that after income tax and national insurance, plus tax’s, levies and vat on everything we all buy essential and non essential, we've paid a total iro 63% tax. I think if you realy look in to it it's more than then that. Let's face it Tax, NI on income to be able to pay Council tax and Vehicle excise duty. So this is 135% Tax " Can you break that down for us dumb people | |||
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"VAT... apparently it was brought in for non-essential goods. Now it applies to all goods. If right, it should at minimum be reduced, or properly reviewed to what is deemed non-essential in modern age. VAT does not apply to all goods. There’s none for example on fruit and veg and children’s clothes. VAT is a tax on goods and services. It can get messy for example newspapers are zero rated which means it could have vat added. If you are self employed then you can not charge vat on labour. Food is exempt except luxury food like cakes and ice cream. Take away hot food has no vat while sit in hot food has vat added or is that one the other way a round. " For me, the worst part is the VAT on home maintenance, repairs and plumbing. Given the housing troubles in the country, people spending money and actually maintaining their homes must be encouraged. It's ridiculous that they charge VAT over this. | |||
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"If you are self employed then you can not charge vat on labour. Food is exempt except luxury food like cakes and ice cream. Take away hot food has no vat while sit in hot food has vat added or is that one the other way a round. " That's inaccurate. Self employed people can register for VAT if they want to, and they are required to register if their income goes above £90,000. Food sold as hot has VAT. Food that is just out of the oven but not marked as hot does not. Cream cakes have no VAT, Christmas cakes do. Hot pies have VAT, hot pasties do not. It's a horribly complex mess of rules and historic court decisions. | |||
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"VAT... apparently it was brought in for non-essential goods. Now it applies to all goods. If right, it should at minimum be reduced, or properly reviewed to what is deemed non-essential in modern age. VAT does not apply to all goods. There’s none for example on fruit and veg and children’s clothes. VAT is a tax on goods and services. It can get messy for example newspapers are zero rated which means it could have vat added. If you are self employed then you can not charge vat on labour. Food is exempt except luxury food like cakes and ice cream. Take away hot food has no vat while sit in hot food has vat added or is that one the other way a round. " I thought hot food did now have tax on it. So a hot Sausage role +VAT cold Sausage role no VAT. Yes it's that mad and needs looking at. I like the idear of tax as you spend, but dislike Tax as you earn. As tax as you earn can be avoided. For quite a few. | |||
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"Didn’t somebody somewhere once calculate that after income tax and national insurance, plus tax’s, levies and vat on everything we all buy essential and non essential, we've paid a total iro 63% tax. I think if you realy look in to it it's more than then that. Let's face it Tax, NI on income to be able to pay Council tax and Vehicle excise duty. So this is 135% Tax Can you break that down for us dumb people" Council tax is 100% tax To be able to pay it you earn money on witch you probably have payed 20% income tax and 12% NI. So yes my guess was prusumsus but still £132% on that earning same for car tax | |||
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"VAT... apparently it was brought in for non-essential goods. Now it applies to all goods. If right, it should at minimum be reduced, or properly reviewed to what is deemed non-essential in modern age. VAT does not apply to all goods. There’s none for example on fruit and veg and children’s clothes. VAT is a tax on goods and services. It can get messy for example newspapers are zero rated which means it could have vat added. If you are self employed then you can not charge vat on labour. Food is exempt except luxury food like cakes and ice cream. Take away hot food has no vat while sit in hot food has vat added or is that one the other way a round. For me, the worst part is the VAT on home maintenance, repairs and plumbing. Given the housing troubles in the country, people spending money and actually maintaining their homes must be encouraged. It's ridiculous that they charge VAT over this." That's the same really as Vat on solar installation or having an Heat pump installed or Buying a LED light bulb..all amed to save the planet, guess that is closed as a luxury. That said posh hand bags over £500 could have more VAT on them but this is to complicated | |||
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" if we're talking inequitable, inheritance tax feels like being fined for having responsible parents! Or rich parents. It only kicks in at £325k. Suspect that troubles a well off minority only on here It affects the majority of home owners "Home owners" This is the exact argument to have an inheritance tax." My parents worked their arses off, for which they were taxed on every penny they earned, plus they were taxed on everything they purchased. They bought cheap property's, were taxed on everything they purchased to renovate and were taxed on the profits they made. Eventually they sold up, downsized considerably and were taxed again. They were taxed on their pension savings. That's money that was already taxed at source from their income. Then, I was taxed yet again on what I inherited. Yup, that sounds like a really fair tax...... J | |||
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"My sister has sold a part of her land that has a building on it, in order to pay some money that she owed to our dad. She still has a fair amount left, but is scared to spend any, because she doesn’t know if she will have to pay capital gains tax. I feel sorry for her, but don’t know anything about what would be an unfair tax, if she does indeed have to pay it." An accountant will be able to easily establish that | |||
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"My sister has sold a part of her land that has a building on it, in order to pay some money that she owed to our dad. She still has a fair amount left, but is scared to spend any, because she doesn’t know if she will have to pay capital gains tax. I feel sorry for her, but don’t know anything about what would be an unfair tax, if she does indeed have to pay it." Don't forget the fist £6000 is capital gains tax free. If she used a solicitor to do the conveyancing they should have deducted the CGT befor giving her the money. | |||
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" if we're talking inequitable, inheritance tax feels like being fined for having responsible parents! Or rich parents. It only kicks in at £325k. Suspect that troubles a well off minority only on here It affects the majority of home owners" Actually… it doesn’t….. The average house price in the Uk was 290,000….. I kinda know what you are getting at with house prices… but what you are getting at is primarily a London and south east issue…. Not an entire Uk one. Anyway… if you want actual figures for inheritance tax…. In 2022/23, the amount of estates that had to pay any inheritance tax at all…. 2% Remember spouses don’t pay any tax, … | |||
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" if we're talking inequitable, inheritance tax feels like being fined for having responsible parents! Or rich parents. It only kicks in at £325k. Suspect that troubles a well off minority only on here It affects the majority of home owners Actually… it doesn’t….. The average house price in the Uk was 290,000….. I kinda know what you are getting at with house prices… but what you are getting at is primarily a London and south east issue…. Not an entire Uk one. Anyway… if you want actual figures for inheritance tax…. In 2022/23, the amount of estates that had to pay any inheritance tax at all…. 2% Remember spouses don’t pay any tax, … " But if you then add in a pension pot to the property could you still in Newcastle keep the hole estate under £325k if the property is £290k that only gives you £35k for everything you own car, jewellery, investments, pension, and cash in the bank. | |||
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