Taxing ‘high’ earners whilst the very rich / wealthy remain untouched
What about dividends, what about those earning over £125k
Does Scotland also have the personal allowance taper above £100k? If so, that means marginal tax rates between £100k and £125k will be a whopping 67.5%—and that’s just income tax! Absolutely brutal.
What a stupid move. You aren’t a high earner if you’re earning under 100k. They should be taxing the millionaires.
Madness. £75,000 is not the salary it once was given how cost of everything has gone up. Before anyone says “well some of us only earn £30k” well yes, but that’s because salaries in the UK are poor, that doesn’t mean £75k is a lot.
The middle class and what were once thought of as high salaries that comfortably bought a house, nice car, few kids, decent holiday and savings… it’s being eroded away while the genuinely rich are getting richer.
The central belt has a pretty decent tech and finance sector, but most of those companies have offices in England also. This just makes Scotland less appealing to the skilled labour in that sector.
There’s already a 64% marginal rate on £43-50k in Scotland if you’ve got student loans, and this only makes the tax burdon worse for those who’ve had some success.
Doing this a year before an election is bold. The Tories and press will jump all over this. It’ll be interesting to see how this pans out in the next election but I reckon it’ll be a cornerstone of at least the tory campaign maybe labour too.
I’m not commenting in support or against the plan. I’m just talking about how this will play politically as I think it’ll be interesting and could shape policy in the rest of the UK
“I’m happy to pay more tax to fund essential services, stop tax cuts NOW”
[actually happens]
“WTF I hate tax now!?”
A tale as old as the hills.
When did politicians stop caring about incentives? Someone earning £100k-£125k will be paying a marginal rate of tax of about **70%**. Rational people will just turn down extra hours… or just move to England. How is that good for Scotland?
What is the predicted revenue gain from this and projections on higher paid jobs remaining or moving south?
Is there a model somewhere to show this or is it more of a punt to get votes?
Sounds like more money in your pension to avoid it lol
This thread is a car crash.
All us little people on salaries fighting over who’s high earning and who should pay more tax among us while those with actual wealth pay almost no tax at all
Nobody has any perspective! 100k gross salary would be a lot if you’re 23, single in a flat share outside a major city. But it doesn’t leave much behind if you have 2 kids, your partner has to go part time to look after them because of the cost of childcare, and you have a mortgage to pay in a major city (because you have to live there to do your high paying job!!!). God forbid your parents need care and you don’t come from money!
If this gets introduced to the UK I’m going to have to consider other options. Working abroad or working as a Ltd company and pay less tax. I earn around 100k but I am still poor because my wife doesn’t work. My dad earned a fraction of what I earned and at my age had a house paid of twice as big as mine and multiple holidays. I’m not working this hard for all my money to get taxed with poor services. My neighbourhood consistently has crime and rubbish everywhere.
Yawn. Another token tax that only disadvantages slightly well off people but leaves the mega-rich untouched.
Wake me when they introduce the 90% tax on >£1,000,000
You can’t tax your way to growth. God, I sounded just like a Tory then, I apologise!
What you actually need to do, if you want to tax rich people is tax stuff and reduce income tax.
If you taxed things they wanted to buy higher then there is no way, or fewer ways around it. This is why VAT actually isn’t such a bad tax. It’s very hard to avoid it. Esspecially now they’ve banned claiming tax back for tourists.
Can these employees setup a company and charge the companies as contractor?
This would allow expenses to be deducted before being tax. Although I’m not sure if it is enough to work around that IR35 rule.
Anyway this just makes it impossible for high earners to safe up more for early retirement or that capital to start a business.
Outrageous – once again squeezing the working class and families. Yet millionaires on huge amounts pay a few % more 🤣.
No chance Scotland is finding that 300m – other than stunting growth, people will salary sacrifice, move south of the border OR declare less income and keep some hidden (if they can).
Tories are bad but the SNP are fiscally all over the place!
We should tax unrealised gain if it is over a certain amount e.g if your asset has £1m+ or more unrealised gain then we should put a flat 20% levy on that holding payable immediately.
Bad for Scottish taxpayers affected but SNP choices have to be funded eventually. But play stupid games, win stupid prizes. One would have to have a heart of stone not to laugh.
Fuck me these useless, corrupt cunts blow/mismanage the public finances and then hike taxes to astronomical levels on the already squeezed middle again. What about all the actual rich people earning £250k plus?!!!
20 comments
Taxing ‘high’ earners whilst the very rich / wealthy remain untouched
What about dividends, what about those earning over £125k
Does Scotland also have the personal allowance taper above £100k? If so, that means marginal tax rates between £100k and £125k will be a whopping 67.5%—and that’s just income tax! Absolutely brutal.
What a stupid move. You aren’t a high earner if you’re earning under 100k. They should be taxing the millionaires.
Madness. £75,000 is not the salary it once was given how cost of everything has gone up. Before anyone says “well some of us only earn £30k” well yes, but that’s because salaries in the UK are poor, that doesn’t mean £75k is a lot.
The middle class and what were once thought of as high salaries that comfortably bought a house, nice car, few kids, decent holiday and savings… it’s being eroded away while the genuinely rich are getting richer.
The central belt has a pretty decent tech and finance sector, but most of those companies have offices in England also. This just makes Scotland less appealing to the skilled labour in that sector.
There’s already a 64% marginal rate on £43-50k in Scotland if you’ve got student loans, and this only makes the tax burdon worse for those who’ve had some success.
Doing this a year before an election is bold. The Tories and press will jump all over this. It’ll be interesting to see how this pans out in the next election but I reckon it’ll be a cornerstone of at least the tory campaign maybe labour too.
I’m not commenting in support or against the plan. I’m just talking about how this will play politically as I think it’ll be interesting and could shape policy in the rest of the UK
“I’m happy to pay more tax to fund essential services, stop tax cuts NOW”
[actually happens]
“WTF I hate tax now!?”
A tale as old as the hills.
When did politicians stop caring about incentives? Someone earning £100k-£125k will be paying a marginal rate of tax of about **70%**. Rational people will just turn down extra hours… or just move to England. How is that good for Scotland?
What is the predicted revenue gain from this and projections on higher paid jobs remaining or moving south?
Is there a model somewhere to show this or is it more of a punt to get votes?
Sounds like more money in your pension to avoid it lol
This thread is a car crash.
All us little people on salaries fighting over who’s high earning and who should pay more tax among us while those with actual wealth pay almost no tax at all
Nobody has any perspective! 100k gross salary would be a lot if you’re 23, single in a flat share outside a major city. But it doesn’t leave much behind if you have 2 kids, your partner has to go part time to look after them because of the cost of childcare, and you have a mortgage to pay in a major city (because you have to live there to do your high paying job!!!). God forbid your parents need care and you don’t come from money!
If this gets introduced to the UK I’m going to have to consider other options. Working abroad or working as a Ltd company and pay less tax. I earn around 100k but I am still poor because my wife doesn’t work. My dad earned a fraction of what I earned and at my age had a house paid of twice as big as mine and multiple holidays. I’m not working this hard for all my money to get taxed with poor services. My neighbourhood consistently has crime and rubbish everywhere.
Yawn. Another token tax that only disadvantages slightly well off people but leaves the mega-rich untouched.
Wake me when they introduce the 90% tax on >£1,000,000
You can’t tax your way to growth. God, I sounded just like a Tory then, I apologise!
What you actually need to do, if you want to tax rich people is tax stuff and reduce income tax.
If you taxed things they wanted to buy higher then there is no way, or fewer ways around it. This is why VAT actually isn’t such a bad tax. It’s very hard to avoid it. Esspecially now they’ve banned claiming tax back for tourists.
Can these employees setup a company and charge the companies as contractor?
This would allow expenses to be deducted before being tax. Although I’m not sure if it is enough to work around that IR35 rule.
Anyway this just makes it impossible for high earners to safe up more for early retirement or that capital to start a business.
Outrageous – once again squeezing the working class and families. Yet millionaires on huge amounts pay a few % more 🤣.
No chance Scotland is finding that 300m – other than stunting growth, people will salary sacrifice, move south of the border OR declare less income and keep some hidden (if they can).
Tories are bad but the SNP are fiscally all over the place!
We should tax unrealised gain if it is over a certain amount e.g if your asset has £1m+ or more unrealised gain then we should put a flat 20% levy on that holding payable immediately.
Bad for Scottish taxpayers affected but SNP choices have to be funded eventually. But play stupid games, win stupid prizes. One would have to have a heart of stone not to laugh.
Fuck me these useless, corrupt cunts blow/mismanage the public finances and then hike taxes to astronomical levels on the already squeezed middle again. What about all the actual rich people earning £250k plus?!!!