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Petition against marginal 60% tax rate in UK if you earn 100k

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Petition against marginal 60% tax rate in UK if you earn 100k

Old 6th Apr 2016, 08:40
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Petition against marginal 60% tax rate in UK if you earn 100k

https://petition.parliament.uk/petitions/109941

Even if this doesn't affect you now, if you're a UK airline pilot or wannabe airline pilot this will likely affect you in the future.

The current system introduced by the last Labour government imposes a marginal income tax rate of 60% up to a current income level of 121,200pa, plus 2% NI, leaving the worker with only 38% of this slice of income. This means if you earn 100-121k you earn the highest tax rate of anyone in the UK. It's grossly unfair.
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Old 6th Apr 2016, 09:05
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Link does not work
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Old 6th Apr 2016, 09:06
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Even though it is a lot of money to pay, I think the UK really can use some extra tax income as all the public services are truly poor at this moment.
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Old 6th Apr 2016, 09:14
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If the tax went directly to the services then it would be worthwhile. Unfortunately the vast majority are squandered and a significant portion lost into the EU abyss. Vote out!
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Old 6th Apr 2016, 12:00
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My understanding was that "additional tax rate" starts at over 150000 and is 45%. I have seen nothing that changes this.
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Old 6th Apr 2016, 12:26
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Originally Posted by JaxofMarlow View Post
My understanding was that "additional tax rate" starts at over 150000 and is 45%. I have seen nothing that changes this.
For every 2 over 100k you earn, you lose 1 of your tax free allowance. So this means that between 100k-122k (or whatever it is) you gradually lose your allowance, as the allowance is 11k, On top of paying 40% tax- so works out to be a loss of 60% overall.
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Old 6th Apr 2016, 12:32
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JaxofMarlow

You need to update your info...


Tax system flaws leave professionals paying 60 per cent - Telegraph

The marginal rate is actually 62% as you get stung for an extra 1% NI above 100,000
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Old 6th Apr 2016, 12:38
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It's the most ludicrous, ill-conceived tax regime imaginable. It leads to a significant loss of productivity: rather than pay the extortionate, punitive tax, people are choosing to go part time instead, simply to stay below the 100k threshold. Alternatively, they are simply finding ever more elaborate ways to reduce taxable income; for example, through creative use of pension allowances.
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Old 6th Apr 2016, 12:54
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How many protestors voted Tory?

Someone has to pay the tax and the Govt want to cut the deficit AND save the NHS, buy Trident, inflation proof pensioners etc

Did it never occur to you that someone, somewhere would have to pay for his promises??
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Old 6th Apr 2016, 13:05
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Frankly I won't loose to much sleep over this and don't suppose many members of the public will either.
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Old 6th Apr 2016, 14:24
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With just a few days to go can't see this one being looked at. Although maybe a point of unfairness it's a very hard point to argue in the current climate.
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Old 6th Apr 2016, 15:34
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OK. I have now updated my information. Yep, this is right.

Am I bothered ? No. It is a bit silly but no one is going to have sympathy with anyone paying more tax between 100k and 120k. It is only 60% between these figures and improves again after. And it was the Labour govt that introduced it so Tory bashing not appropriate.
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Old 6th Apr 2016, 16:56
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ahh the politics of envy. The quickest way for anyone to forget their principles....

The thought of anyone paying 62% tax would appall most people yet, when it's applied to just a few who 'earn too much anyway' then it's fine. These people who lambast those like me for reducing my tax liabilities quite legally through pension contributions etc, are more than happy to save 20% on their new double glazing 'cos the nice man knocked the VAT off.....'

I despise the sheer amount I pay, 40 grand last year, for what??? to get the same crap services as everyone else, the same services many get for free and to add insult, to get sneered and sniggered at as a privileged cash cow. I'm making plans to live abroad and work part time as many of my peers are. Make work taxxing and most will decide not to work. Crap politics, the same that has been bancrupting the country for years.

Cheers, and to those with no sympathy for my position, good luck when u are finally dragged into osbornes sights.... I guarantee you will re-adjust your principles then.
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Old 6th Apr 2016, 17:27
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You are absolutely right mon brave. If you look at the airline profession everyone aspires to command and beyond. Well, that puts you right into this bracket of punitive and unfair taxation (UK). As is now typical, nobody cares unless it actually affects you. The perceived wisdom is that 100k packages are 'rock star' wages but that is unfortunately not the truth. As stated by many, personally I would be okish if the tax was going to those who needs it, reflecting a compassionate society but I doubt whether that is the case. Be careful for what you wish for.
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Old 6th Apr 2016, 18:38
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This is not an aviation thread. It is political. As such it has the potential do more harm than good. It has already started to get an edge in the comments so I hope for one it disappears soon.
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Old 6th Apr 2016, 19:50
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Surely this thread has a natural home amongst the right-wing politics of the jet-blast section....

For what it's worth I won't be signing the petition. We need tax receipts to help fund public services which are already strapped for cash. If I'm ever lucky enough to earn over 100k then I hope I'd see taxation as a public good.
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Old 6th Apr 2016, 21:14
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It's funny how people complain about paying these "unfair" taxes. You are in a position of wealth because of society and the services it provides, the more wealth you have been lucky enough to get distributed your way the more you help out with paying back - quite logical really. And it's not like you get a higher tax on ALL your earnings, just on that extra part over the limit.

For the people who go part time to not pay taxes, if you're only in it for the money, I hope I don't end up next to you in the cockpit.
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Old 6th Apr 2016, 21:15
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Or go expat and potentially pay no tax.
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Old 6th Apr 2016, 21:23
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Get it out those big corporate companies! Is it worth doing all those long hours for 40 % return, me thinks not!!
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Old 6th Apr 2016, 21:37
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the more wealth you have been lucky enough to get distributed your way
Isn't there a quote usually attributed to Lee Trevino along the lines of "funny how the harder I work, the luckier I get" .

That said I'd agree that the petition is a waste of time
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