The Tax Parasite
 

Anyone have any way of lessening the bleeding effect of the UK Tax parasite?:}

:hmm:

If one defines a parasite as one who benefits from the efforts of others while serving no useful purpose other than extending its own self existence, then an extermination of the entire UK stock of government staff at all levels would serve your purpose nicely.
But that sort of statement gets one 42 days lock up without representation in this fair democracy known as England?:zzz:

stealing your money?
 

Are you referring to those 'employees' who avoid paying tax and NI in this country and many other countries in the EU simply by being 'agency' members on contract with various well known companies? They are effectively forcing the rest of us to pay more in taxes to meet the insatiable demands of the Exchequer. They are stealing money from those of us who pay tax, straight out of our back pockets every day that they get paid.
Or are you referring to Gordon 'Robber' Brown, the thief of Whitehall? If so, see the 'UK Economy under GB' thread on Jet Blast.

Actually I was trying to see if anyone had found any good ways of keeping more of the money we earn, without the :mad:parasites coming after us....l

Put as much as possible into a pension fund if you are not already doing so.

Emigrate. :cool:

Whatever you do, don't put your money in a pension fund.
In 1998 my private pension fund with Standard Life was worth £255.000.
Gordon Brown removed the tax relief on dividends for pension funds in 2002/3.
In 2005, my fund was worth £187.000. I bought a fixed rate annuity with the money in that year and would advise anyone thinking of the future to remember Gordon Brown and his successors will always look at pension funds when they are strapped for Treasury cash. Learn from history.
Invest in property to let, here or elsewhere in the world. Buy some gold. Invest in nuclear and recycling companies.
Get an accountant, pay your taxes and retire as soon as you can afford it.
If you feel that being a parasite, and not paying the tax you are obliged to pay, is an uplifting and moral stance, then I hope I never have to fly with you in the future.
Good luck.

....Or make sure you choose a pension fund which invests in these things. You have to be active. You can't just bung pension money at an insurance company and leave them to it. You have to learn about pensions and get involved. You have to choose the funds for investment carefully and keep reviewing and switching your funds. If the pension company doesn't allow it, move elsewhere.

I'm not going to post the actual sums but I'm very happy with my funds performance. It is growing at over 12% per annum.

Don't forget the tax relief on contributions is worth 41% - although the government can of course change this. It'll be a different ball game if that happens.

I think the general consensus is to put your finger in as many pies as possible.

When we come to retirement age, we have a varied portfolio,of properties, pension, cash/ stocks and shares/ with profit funds ISA's, other stocks/shares etc.

We just cash in whatever is performing particularly well at the time..

For the guys who have pensions, aged 20-50 put your funds in medium to high risk category as these have greater potential to go up..AND DOWN!!!

If you are aged around 50 and have 10-15 years left before retirement.. Put your funds into low risk such cash, gilts etc... so you are less likely to lose fund value and these generally show steady rise over the years..

Good luck to all....HAPPY INVESTING!!!!!:}

Stand for parliament

Pull the UK out of the financially corrupt EEC that has never been able to find an auditor on the planet willing to sign off it's accounts due to the institutionalised pilfering of our money!!!
That should bring the tax bill down a notch.:O

Rubik 101
You must pay attention...I have not asked for a way of escaping the tax liability....more for legally ensuring I don't pay any more than I have to...as for the parasite bit I have always paid in to this system and have never taken anything out....indeed I pay, in comparison to some, a larger unequal amount because I am on PAYE.THE BIGGEST SWINDLE ON THE WORKING MAN EVER IMPOSED:mad:

UK Tax Allowance for Pilots
 

Since we are on the subject of UK tax, could I please pick the brains of someone in the know as to the tax free allowance that Mr Darling will allow us to count against our earnings as commercial pilots. I'm sure I read somewhere that it was going up for 2006-7 and, yes you guessed it, having prevaricated for so long, its now time for me to complete the paperwork.

Thanks to anyone in the know.

Blakey

Sure,

The document can be found here.

It only applies to uniformed flight deck crew. The sum is a Fixed Rate Expenses Allowance. As always if your own (allowable) expenses exceed this amount you can submit an independant claim and forego this FREA.

What if you are based away from your home/family and have to comute to your base? Can you claim expenses for rent and travel even if you are employed as PAYE?

Depends on why you are "based" away from your home. If the employer requires you to take up a temporary base and then fails to make any allowance for it, you may be able to claim this as an expense. If however you mean you have accepted a basing and chosen not to make your home within the contract distance, then no that is not allowed. That is your choice.

Why don't you guys relocate to the new EU members states? They pay no taxes, have a " dolce far niente life", waiting, expecting and demanding the rest of EU (your taxes) to provide to them. Their job is only to have fun and consume.

Not from next April they wont.......

The British tax system is disgraceful. The Inland revenue/government are nothing more than gangsters.

It took me two years to have my tax code changed from BR to xxxL. Then the rebate was only partly refunded, the rest was "adjusted". They pull our pants down.

Still, I like living in in the UK.

Be nicer if everyone contributed though wouldn't it......