Lets get rid of the Public Sector Pensions who contribute nothing toward their Pensions, the Government pays it (I.e. you and me!). Only the LGPS is a properly funded pension scheme and costs the rest of us NOTHING. Then we'll have a level playing field. Pensions are sound. The payers-in fund the pensions takers and the Pension Fund Money is used to invest in/ bolster industry thereby creating wealth (and Tax). Yes Government kill the golden goose for its eggs. Doh!
Showing posts with label hmrc. Show all posts
Showing posts with label hmrc. Show all posts
Thursday, 1 October 2015
Monday, 25 February 2013
FAKE HMRC emails - don't be caught
Don't be caught out - HMRC NEVER email you.
Send your fake emails to this address.
phishing@hmrc.gsi.gov.uk
They will go for them.
These people are THIEVES after your money
Wednesday, 29 August 2012
QE bad for Pensioners
Again it shows that this government does not care about pensioners now and to be. We are the SAVERS not the spenders we built this country up and GB/TB bankrupted it.
Cleggy wants a special get-out-of-jail tax, but they'just took 5p off the top rate giving millions to the better off whilst pensioners get by on their savings having to dip in to make ends meet not to mention the paltry interest rates o n top of which they pay 20% tax!
Remember GB when he took away the 10% rate and gave £300 to all better off taxpayers? What they should do is put 1p on income tax - fair on all.
Raise the allowance to £10000 as promised, that way the better off pay their fair share to get the economy back on its feet.
Oh, and while he's at it take tax off interest for all pensioners up to £10000 a year. What has he to lose, they pay 20% on 2% that 40p tax in every £2 of interest, NOW so any gain on 2% interest is nothing lost.
Cleggy wants a special get-out-of-jail tax, but they'just took 5p off the top rate giving millions to the better off whilst pensioners get by on their savings having to dip in to make ends meet not to mention the paltry interest rates o n top of which they pay 20% tax!
Remember GB when he took away the 10% rate and gave £300 to all better off taxpayers? What they should do is put 1p on income tax - fair on all.
Raise the allowance to £10000 as promised, that way the better off pay their fair share to get the economy back on its feet.
Oh, and while he's at it take tax off interest for all pensioners up to £10000 a year. What has he to lose, they pay 20% on 2% that 40p tax in every £2 of interest, NOW so any gain on 2% interest is nothing lost.
Thursday, 21 June 2012
Tax Avoidance - I wish!
I say good luck to Jimmy Carr, if he's not broken any laws?
He's just one and has done well in life. Even at 20% what woudl he owe the treasury?
What about us lower paid folks we toil year afte year and give over 30% of our income to beloved HMRC (yes add Tax and NI -basically another tax). Is this example fair - I ask you.
My friend has worked for over 30years and never earned enough to pay Higher rate tax and indeed is below the national average wage. His wife doesn't work - their choice agreed - but deem they can manage on his income. So his mother dies and he inherits her estate. Not enough for Inheritance tax (he wishes) but a nice little bungalow - a bit tired. So after sorting out wills, affairs etc puts said Bungalow on the Market. Lets say £200k. it take 3 years to sell and in fact he gets only 150k but this is in fact £30k more than the value when she died, a gain of £30k. So HMRC want him to pay CAPITAL GAINS TAX. So he fills in his tax return and that year they add it to his income - say £20k making a fantastic £50k in that year taking him into Higher rate tax. Whoopee - now he has to write a cheque to the taxman to cover all this off. Total tax bill £13k!
IS THIS FAIR? If he'd had the full £150k as an inheritance it would be Tax free. Just because there was a time lapse between inheritance and selling the bungalow and it went up by £30k (could have easily been down by 50k if it had happened 2/3 years later).
ITS JUST NOT FAIR. A once-in-a-lifetime event you only get parents dying once and the measly bungalow sells for a small profit and the Taxman grabs £13k because he's been so lucky to "make a profit". He has never and probably never will become a true Higher rate tax payer but that's the rules.
If it was a business or someone like Jimmy Carr it wouldn't even be a pin prick in his income. But HMRC are bullies and the rules applly with an iron fist to the little people.
He's just one and has done well in life. Even at 20% what woudl he owe the treasury?
What about us lower paid folks we toil year afte year and give over 30% of our income to beloved HMRC (yes add Tax and NI -basically another tax). Is this example fair - I ask you.
My friend has worked for over 30years and never earned enough to pay Higher rate tax and indeed is below the national average wage. His wife doesn't work - their choice agreed - but deem they can manage on his income. So his mother dies and he inherits her estate. Not enough for Inheritance tax (he wishes) but a nice little bungalow - a bit tired. So after sorting out wills, affairs etc puts said Bungalow on the Market. Lets say £200k. it take 3 years to sell and in fact he gets only 150k but this is in fact £30k more than the value when she died, a gain of £30k. So HMRC want him to pay CAPITAL GAINS TAX. So he fills in his tax return and that year they add it to his income - say £20k making a fantastic £50k in that year taking him into Higher rate tax. Whoopee - now he has to write a cheque to the taxman to cover all this off. Total tax bill £13k!
IS THIS FAIR? If he'd had the full £150k as an inheritance it would be Tax free. Just because there was a time lapse between inheritance and selling the bungalow and it went up by £30k (could have easily been down by 50k if it had happened 2/3 years later).
ITS JUST NOT FAIR. A once-in-a-lifetime event you only get parents dying once and the measly bungalow sells for a small profit and the Taxman grabs £13k because he's been so lucky to "make a profit". He has never and probably never will become a true Higher rate tax payer but that's the rules.
If it was a business or someone like Jimmy Carr it wouldn't even be a pin prick in his income. But HMRC are bullies and the rules applly with an iron fist to the little people.
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