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| daemonoid |
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daemonoid
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 Posted: 12:39 - 20 Mar 2014  Post subject: The budget that keeps on giving... |
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| Rogerborg |
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Rogerborg
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Posted: 13:48 - 20 Mar 2014  Post subject: |
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Having had the pleasure of dealing with HMRC recently I can only say:
DAFUQ?
£5K cap it is then, the rest under the mattress in Judengeld.
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GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike |
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| daemonoid |
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daemonoid
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| Posted: 13:56 - 20 Mar 2014 Post subject: |
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I'm probably a little late to see this one, but I rarely have a UK ip...
https://www.bbc.com/news/uk-politics-26658742
I can only imagine how they came up with that - "what is it that poor people like?", "beer and gambling of course... mindless proles that they are", "great, lets go with that then".
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| Posted: 14:34 - 20 Mar 2014 Post subject: |
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| daemonoid wrote: | I'm probably a little late to see this one, but I rarely have a UK ip...
https://www.bbc.com/news/uk-politics-26658742
I can only imagine how they came up with that - "what is it that poor people like?", "beer and gambling of course... mindless proles that they are", "great, lets go with that then". |
Patronising maybe, but going by the amount of Bingo adverts on the TV nowadays, obviously not far wrong! 
Do you pay your income tax in the UK, being out of the UK that often?
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| _Will_ |
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_Will_
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Posted: 14:49 - 20 Mar 2014  Post subject: |
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| daemonoid |
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daemonoid
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| smegballs |
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smegballs
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| ThoughtContro... |
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ThoughtContro...
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| Lord Percy |
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Lord Percy
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Posted: 15:42 - 20 Mar 2014  Post subject: |
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| Posted: 16:57 - 20 Mar 2014 Post subject: |
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| daemonoid wrote: | | mpd72 wrote: | Patronising maybe, but going by the amount of Bingo adverts on the TV nowadays, obviously not far wrong!
Do you pay your income tax in the UK, being out of the UK that often? |
I'm a Luxembourg resident, but I do pay some tax in the UK. Plus I have a pension from a while back. |
So what nationality are you? Just wondering, because I had a mate who used to whinge about the state of the UK economy, yet because he worked Monday to Friday in Belgium, he chose to pay his income tax there to save money.
It's a bit hipocritical to be honest. Complaining about how the UK spent "his" tax money when he avoided paying his in the UK anyway. 
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Sload
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| trevor saxe-coburg-gotha |
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trevor saxe-coburg-gotha
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daemonoid
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| Posted: 09:59 - 21 Mar 2014 Post subject: |
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| daemonoid wrote: | | mpd72 wrote: | So what nationality are you? Just wondering, because I had a mate who used to whinge about the state of the UK economy, yet because he worked Monday to Friday in Belgium, he chose to pay his income tax there to save money.
It's a bit hipocritical to be honest. Complaining about how the UK spent "his" tax money when he avoided paying his in the UK anyway. |
I'm an immigrant. I've moved full time to luxembourg, I live with my luxembourg 'wife' in a house here and only ever pop to the UK to see family and go racing. I also have a small business over there and usually pay a few grand in tax despite not using any services and reinvesting all the money.
I'm betting that if I'd been an immigrant to the UK and complained about it it you'd be telling me I can bugger off home right? |
You can put the race card away, Why do liberal lefties feel the need to try to turn everything into a race issue to discredit someone's opinion?
I'm guessing that your nationality is British even though you seem reluctant to mention it. The point I'm making is that you're the first on here to rip the current UK government apart on economic policy and whinge about the budget, yet you pay your income tax in Luxemburg. A bit hipocritical don't you think?
Edit - just re-read that and thoguht I'd better add this. Just to point out, this is not a personal attack.
One of my bug-bears are the left wing celebrities and rock stars who preach to the rest of us on how our country should be run and how our tax should be spent, when they choose to pay their tax offshore. I know he's really Irish, but Bono is a good example of this.
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| daemonoid |
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daemonoid
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| Posted: 11:00 - 21 Mar 2014 Post subject: |
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| mpd72 wrote: | You can put the race card away, Why do liberal lefties feel the need to try to turn everything into a race issue to discredit someone's opinion?
I'm guessing that your nationality is British even though you seem reluctant to mention it. The point I'm making is that you're the first on here to rip the current UK government apart on economic policy and whinge about the budget, yet you pay your income tax in Luxemburg. A bit hipocritical don't you think?
Edit - just re-read that and thoguht I'd better add this. Just to point out, this is not a personal attack.
One of my bug-bears are the left wing celebrities and rock stars who preach to the rest of us on how our country should be run and how our tax should be spent, when they choose to pay their tax offshore. I know he's really Irish, but Bono is a good example of this. |
I thought it was quite obvious from what I wrote that I was British moved to Luxembourg. No race card playing and completely open about it.
I pay my income tax in Luxembourg because I live here... No bones about that... I pay the tax where I have to - my job is here, my home is here, my 'wife' is here. When I lived in the UK I paid it there. When I lived in the Netherlands I paid it there. I also still pay some tax in the UK.
Unfortunately though, my pension is in the UK. I signed up to it under certain rules and now they have been changed. Are you saying that I no longer have a right to complain about me losing money because I moved? You know I'm no drain at all to the UK yet still put a decent amount into it...
tl;dr not hypocritical at all. I emigrated from the UK but I still have a financial interest there I am paying tax and recieving nothing, maybe I'm in an even better position to complain?
<edit> and as I have a UK bank account or two the original link I posted does mean that hmrc can go after me. Why do I lose the right to complain about things that affect me just because I move?
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Rogerborg
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daemonoid
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| Lord Percy |
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Lord Percy
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Mark_F
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| daemonoid |
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daemonoid
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| Posted: 14:18 - 21 Mar 2014 Post subject: |
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Very simple maths... I even quoted it in the pension related thread directly. but simply...
Lets say a pension pot of £200k (which is a nice, but not unreasonable sum):
Old rules - £50k taken tax free, £150k to buy an annuity. £150k will not buy an annuity that attracts tax on payments.
New rules - £50k withdrawn, £10k tax free, 25% bonus tax free, so £30k taxed at marginal rate (40% as you are receiving £50k...) £12k in tax. You receive £38k and have £150k to buy an annuity as before.
Can you see how that's £12k to the government?
I'm not anti government, in the main, but this is a blatant raid on private pensions dressed up as empowerment. To not be able to see through the government's smoke and mirrors is a serious indictment on the state of the mathematical education in the UK...
Thanks for the link though, I expect many people will do that dependent on tax rules in other EU states.
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| Posted: 15:08 - 21 Mar 2014 Post subject: |
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| daemonoid wrote: |
Very simple maths... I even quoted it in the pension related thread directly. but simply...
Lets say a pension pot of £200k (which is a nice, but not unreasonable sum):
Old rules - £50k taken tax free, £150k to buy an annuity. £150k will not buy an annuity that attracts tax on payments.
New rules - £50k withdrawn, £10k tax free, 25% bonus tax free, so £30k taxed at marginal rate (40% as you are receiving £50k...) £12k in tax. You receive £38k and have £150k to buy an annuity as before.
Can you see how that's £12k to the government?
I'm not anti government, in the main, but this is a blatant raid on private pensions dressed up as empowerment. To not be able to see through the government's smoke and mirrors is a serious indictment on the state of the mathematical education in the UK...
Thanks for the link though, I expect many people will do that dependent on tax rules in other EU states. |
Sorry, that's cobblers, nobody will be worse off.
Taking the whole pot as cash is optional, nobody is forcing you to.
As in the old rules, you can still take up to 25% (So £50K in your example) lump sum tax free in the new rules and leave the remaining £150,000 for an annuity.
"From April 2015 it is proposed that people will still be able to take a tax-free lump sum of up to 25% of the value of the pensions pot (as per current rules), however any cash taken over the 25% tax-free amount will be taxed at the person’s marginal tax rate and no longer at 55%."
from here...
https://www.employeebenefits.co.uk/benefits/pensions/more-flexibility-to-be-allowed-when-taking-dc-pension-savings/104364.article
Nothing is changing other than giving people an extra option of drawing the whole lot rather than being forced to put 75% of anything over £18,000 (Now upped to £30,000) into an annuity.
This is to benefit the smaller pension pot holders, of which apparently 1 in 4 is under £25,000. Under old rules, they were forced to put anything over £18,000 into an annuity, probably earning them a tenner a month, now they can do something useful about it.
Go on, apologise to George!
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| Spudly |
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Spudly
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| Posted: 19:10 - 21 Mar 2014 Post subject: |
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Call me a fool, but why are taxes pain on pensions anyway? Surely income tax was paid prior to paying into the pension?
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Old Thread Alert!
The last post was made 11 years, 265 days ago. Instead of replying here, would creating a new thread be more useful? |
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