Higher Rate Tax Bands


#21

It’s one area where I think the US have it right - a married couple can pool their tax allowances.

If one person is earning to support another too, I think they should get the benefit of the other person’s allowance.


#22

Not bad considering 20K goes into deep frying mars bars :wink:

Edit - Did you see the deep fried chocolate orange recently??


(Richard) #23

Can honestly say… i’ve never had one.

Edit: wtf…

Speaking to Texan colleagues… they deep fry butter…


#24

I saw a Gordon Ramsey clip of him talking to a chef somewhere in America.

Asked what was in some deep fried cheese thing…

“This cheese, that cheese (I can’t remember their names), and skimmed 0% fat cheese”…

His response…

“So you put 0% fat cheese in this, and then deep fry it in fat?” :joy:


#25

Marriage and children do not always coincide - you just create a different kind of discrimination.

Looked at another way, it’s a great incentive for parent A earning 60k to take time out and earn 10k less. Less money, but more time :slight_smile:

We know a retired couple who use their fuel allowance to buy ski passes every year.

To call the system broken is an understatement


(Ravi) #26

Hopefully that’s where Civil Partnerships come in.


#27

Partner and children don’t always coincide


(Ravi) #28

I could go on about this all day! The system is just ridiculous. The take home pay of a couple each on £50K is massively more than one person on £60 but they also then get the full child benefit.

:face_with_symbols_over_mouth::face_with_symbols_over_mouth::face_with_symbols_over_mouth:


#29

Well, not sure about that.

How many people who didn’t want to enter into a legal undertaking in a civil registry office because it was called marriage are going to enter into that obligation just because it’s called a civil partnership?

Again, it’s the state gone mad.


#30

The state didn’t want to introduce them but were taken to court for discrimination and were forced to do so

Slightly off topic though


(Brian Hunter) #31

Hey, taxation is the price of civilisation.


#32

The madness is that they were trying to maintain the “sanctity” of marriage in the first place long after the horse had bolted.
But yes, somewhat off topic.
On topic, I know cash ISAs are out of favour with some, but failing to use your allowance may prove shortsighted.

Check out innovative finance ISAs as well… Potentially nice returns, tax free
I would pick out a favourite charity or two for gift aid and the like…


#33

Taxation is civilisation


(Jai Sullivan) #34

Personally, pension contributions and share schemes through my employer tend to be the best options for me. Purchasing shares through salary sacrifice (capped at a specific amount) and retaining them for 5 years means they aren’t subject to income tax. Obviously comes with the usual ‘your investment can go up as well as down’ health warning.


#35

At least you’re allowed to put it in your pension!