MP’s tax avoidance

sherlock

sherlock

Well-known member
More stories this morning of MPs using tax avoidance measures on their second jobs, including Lib Dem leader Ed Davey.

I have a full time job taxed as PAYE. I also do a second self-employed job and have just done my tax return and paid my latest self assessment tax bill.

Paid over £4,000 on earnings of £10,000.

I don’t mind paying my way and contributing to wider society but I’ve had enough of these idiots at the top thinking those rules only apply to the rest of us 😡
 
m3t4tr0n said:
They simply need to close these loopholes, but they won't because the system is working as designed
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Then there’s the revolving door syndrome. Government decides what it wants. Then it’s left to the tax department civil servants to do the details giving several options, then government decides.
There’s always, seemingly some kind of loopholes.
Civil servants retire early from various departments like HMRC and others across Whitehall and take up jobs or consultancies with the large accounting companies and banks. They know how exactly how to navigate through. Kerrrching!
 
There are just too many tax avoidance schemes for the those in the know.

I was amazed that people could live here as long term non domicile and often pay no direct taxes and in effect get a lot of the benefits (public services, rises in value of the UK property etc) - while someone on £13k a year is paying a marginal rate of over 33% in direct tax.

When I was working full time I could get all my income tax back by investing it in my pension. If I wanted I could go and live overseas with all my UK pension income.
 
sherlock1969 said:
More stories this morning of MPs using tax avoidance measures on their second jobs, including Lib Dem leader Ed Davey.

I have a full time job taxed as PAYE. I also do a second self-employed job and have just done my tax return and paid my latest self assessment tax bill.

Paid over £4,000 on earnings of £10,000.

I don’t mind paying my way and contributing to wider society but I’ve had enough of these idiots at the top thinking those rules only apply to the rest of us 😡
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To be fair, you also had a choice between registering as self-employed or setting up a company, so in this case it's not actually one rule for us and another rule for them.
 
Redwurzel said:
When I was working full time I could get all my income tax back by investing it in my pension
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How did that work then? Must be a scheme unavailable to 99% of PAYE employees, otherwise nobody in a job with a pension would be paying any income tax.
 
ThePrisoner said:
How did that work then? Must be a scheme unavailable to 99% of PAYE employees, otherwise nobody in a job with a pension would be paying any income tax.
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All employees are entitled to place 100% of their earnings into a pension, up to a maximum of £40,000 a year.

In fact, an employee earning £40,000 a year gross can place £40,000 into a pension and it will only cost them £32,000, with the other £8,000 being tax relief. This despite the fact that they would only have paid around £5,500 in income tax on their earnings.
 
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WilliamMunny said:
All employees are entitled to place 100% of their earnings into a pension, up to a maximum of £40,000 a year.

In fact, an employee earning £40,000 a year gross can place £40,000 into a pension and it will only cost them £32,000, with the other £8,000 being tax relief. This despite the fact that they would only have paid around £5,500 in income tax on their earnings.
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I already knew that. Downside being that unless you were earning about £80k you would quickly starve/freeze to death unless you had another untaxed source of income so that rules out 95% of workers. I thought you had some wizzo tax dodge on the go.
 
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