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Agree on top 1% and for those in US that makes them triple cunts as they claim back donations in their yearly tax bill (I couldn't believe when an accountant asked me if I give any money to a beggars on streets of NY when living there long time ago. Said yes and he took this as 500$ tax rebate!!). What I can see is that he is not one of those 1% . 1 1/2 cunt only?

The sooner we get rid of this Tory cancer the better, fuck the lot of them.

I don't think its gonna happen. People will march out en masse to vote for them as normal as "oh, we always vote blue". These are our overlords and theres nothing we can do about it.

claim back donations in their yearly tax bill

You can do that in the UK too, or at least the tax bit anyway so your donation comes out of your gross income rather than net. Gift Aid achieves the same end result for basic rate payers.

For me tax isn't the same as charitable giving though. for me it is important that tax money is spent on unglamorous things I don't like. Charitable donations are massively skewed to cuddly animals and cute children.

There’s definitely a bell curve of don’t earn enough to pay tax, earn so much can avoid paying tax with clever schemes and loop holes.

Seems to me the hardest hit are people from 18-40k

There's something wrong with this country tied up with our past, the monarchy and the class system that makes people defer to those who talk posh, wear top hats, drop Latin into conversations. As a result people vote Tory as they fit the bill.

We are a sort of ongoing Stanford Experiment where we accept Etonians as the bosses.

Can I have "pays taxes but also the transphobia"?

JK Rowling

Do we accept them or do most people just assume the system is so rigged against them that there is no point fighting it?

Seems to me the hardest hit are people from 18-40k

In terms of disposable income + cost of living, yes, but in terms of tax? At around 100k the marginal rate is 60%+ (i.e. every extra £1 you earn you keep 40p). Not saying those people deserve sympathy as that is clearly still a good income, but i can’t see much of a reason for saying that below 40k are worse taxed. VAT is the only thing i guess, on the assumption lower paid spend more of income on expenditure which might have VAT on it?

I'd be fucking rolling in it if I earned 40k

National insurance drops at 50k, those on the basic tax rate are getting far less benefit on this pension contributions or any other kind of salary sacrifice like childcare, VAT due to spending a larger percentage of take home on basic living etc.

In terms of marginal tax rate I think 50-60k is highest due to the drop in child benefit (assuming you're eligible)

Agreed. I’d be drowning in aspirational shit I’d bought on 40k

What is marginal rate tax?
A self employed thing?

Highest rate of income tax for employees is 45% for earnings over £150,000 annually

Marginal rate is the rate at which additional earnings are taxed. I'm only a basic rate tax payer but if I get a £1 payrise, 41p of it goes straight to the government*. Next year it'll be 42.25p (and an increased employer contribution on top of that).

I think the entire tax system is designed to disguise how much you actually pay even on shitmuncher wages

* I'm counting student loans - 20% income, 12% NI, 9% SLC

V interesting. Ta.

At around 100k the marginal rate is 60%+ (i.e. every extra £1 you earn you keep 40p)

Other way round, you keep 60p (50,721 to 150,000 is taxed at 40%).

No, that's wrong because of taper of nil rate band above 100k.

+1

Especially if you you have young kids in nursery and say one person in a couple earns >£100k. All the child benefits and tax free allowances drop away.

Nope. Your tax free allowance is tapered off at the same time. If you get a £1k payrise from £100k to £101k you first get taxed at 40% on the £1k (leaving £600) and then you lose £500 off your tax-free income. So instead of £51k being taxed at 40% it's £51.5k taxed at 40%. Your 1% payrise is now 0.4% before NI

I'm only a basic rate tax payer but if I get a £1 payrise, 41p of it goes straight to the government

Hardly a problem though, you're only paying more tax on that extra quid. I think once you start earning bigger money like that, pay rises tend to take into account the extra tax you pay. Doubt you get too many people on 80k getting 20p an hour "rises" and being told to to be bloody grateful for it. Moar income tax and less VAT, flat rate taxes are shit.

Hadn't thought about child benefit, good point - how much is child benefit per week (before the taper)? It is only for certain people though.

Get your point on expenses - I'm not saying people on 100k have it harder than those on 40k, obviously! It's purely about where you'd say it is worst for tax rates - I was surprised to see 40k given there is still a full nil rate band + all income above that is at 20%.

Your tax free allowance is tapered off at the same time

This is fine.

taper of nil rate band above 100k

Okay, for the first 25k. But then you are back to 40% for the next 25k.

These are nice problems to have.

If you get a £1k payrise from £100k to £101k you first get taxed at 40% on the £1k (leaving £600) and then you lose £500 off your tax-free income.

Am I really the first dullard to point out that all these calculations confuse salary with taxable income, and so only apply if you aren't making any pension contributions?