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£1000000
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By (user no longer on site)
over a year ago
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It's the large corporates who don't pay tax and put back in via tax avoidance schemes rather than tax evasion. Like when Starbucks says it makes an 18m pre tax loss in the UK so it reduces the amount of overall profit it makes and avoids paying millions in corporation tax.
Plenty of other companies do the same |
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!"
Couldn't agree with you more! And then when your number is up 40% inheritance tax has to be paid on everything that you have left over the threshold albeit that it's money you have already paid tax on. That's why they call the place Great Britain, it really is Great unless you happen to be a high achiever. |
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By (user no longer on site)
over a year ago
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You don’t need to be earning millions for that to take effect. Even a few 100k and you’re paying those rates. Extra NI, 45%, loss of tax allowance. It all adds up to about 1/2 going to the state. |
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By (user no longer on site)
over a year ago
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!
Couldn't agree with you more! And then when your number is up 40% inheritance tax has to be paid on everything that you have left over the threshold albeit that it's money you have already paid tax on. That's why they call the place Great Britain, it really is Great unless you happen to be a high achiever. "
Lol |
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!"
Only £571000 that's more than most earn in a lifetime and way more than anyone needs |
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By (user no longer on site)
over a year ago
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!
Only £571000 that's more than most earn in a lifetime and way more than anyone needs"
 exactly |
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!
Only £571000 that's more than most earn in a lifetime and way more than anyone needs
exactly "
How much do people need? |
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!
Only £571000 that's more than most earn in a lifetime and way more than anyone needs
exactly
How much do people need? "
I'd be happy with 2k a month |
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By (user no longer on site)
over a year ago
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!
Only £571000 that's more than most earn in a lifetime and way more than anyone needs"
Maybe you’re using old data. More recently even the average wage working 40 years would earn much closer to £1m. |
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"Because most people who earn that kind of money don’t do it as PAYE and rarely pay that amount of tax.
So how would you avoid paying the full amount of tax?"
So tax is a highly charged and emotive subject. I'll try and give an example though, my day job pays me roughly £150k ish depending on retention and net promotion score, from that I pay roughly £60k of tax.
I also have my own business where I consult on various IT things company made just under £200k Gross Profit however the amount of tax paid from that was £7,472 thanks to the accountant doing some sums that I don't quite get.
I have said happy to pay my fair share and I think I do, I do a good bit of volunteering and charity stuff as well, simply put when you are self employed running a business you have no sick pay, no holiday pay, no pension, no maternity/paternity pay if it goes wrong you are up the creek without a paddle that's why they get let off a bit with tax. |
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By (user no longer on site)
over a year ago
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If you’re taking home over half a million in wages alone after tax, I think you’re going to be fine. People live on the food poverty line in this country who work full time . So I would not complain if I was getting taxed that amount. Just my opinion though. |
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"If you’re taking home over half a million in wages alone after tax, I think you’re going to be fine. People live on the food poverty line in this country who work full time . So I would not complain if I was getting taxed that amount. Just my opinion though. "
This is absolutely nails it |
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!
Only £571000 that's more than most earn in a lifetime and way more than anyone needs
exactly
How much do people need?
I'd be happy with 2k a month"
Quick maths say 2k per month is about 32000 per year gross. 35 years work, not including inflation is £1120000.
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!
Only £571000 that's more than most earn in a lifetime and way more than anyone needs
Maybe you’re using old data. More recently even the average wage working 40 years would earn much closer to £1m. "
Most earn around 1k a month so that's 480000 in 40 years |
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!
Only £571000 that's more than most earn in a lifetime and way more than anyone needs
exactly
How much do people need?
I'd be happy with 2k a month
Quick maths say 2k per month is about 32000 per year gross. 35 years work, not including inflation is £1120000.
"
That would do me  |
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"If you’re taking home over half a million in wages alone after tax, I think you’re going to be fine. People live on the food poverty line in this country who work full time . So I would not complain if I was getting taxed that amount. Just my opinion though.
This is absolutely nails it "
I’m not earning that…lol, I wish I was! |
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!
Only £571000 that's more than most earn in a lifetime and way more than anyone needs
exactly
How much do people need?
I'd be happy with 2k a month
Quick maths say 2k per month is about 32000 per year gross. 35 years work, not including inflation is £1120000.
That would do me "
But you’d lose nearly half in tax…. |
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By (user no longer on site)
over a year ago
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"If you’re taking home over half a million in wages alone after tax, I think you’re going to be fine. People live on the food poverty line in this country who work full time . So I would not complain if I was getting taxed that amount. Just my opinion though.
This is absolutely nails it "
Don’t mind funding a couple of GPs with tax. If the corps and mega earners were also paying similar rates (not sums) then we’d all benefit from a few % cut or better services.
Don’t begrudge paying taxes to fund a civil society- it is the Govt’s feckless spending I object to!
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By *aui.Man
over a year ago
around here |
"Because most people who earn that kind of money don’t do it as PAYE and rarely pay that amount of tax.
So how would you avoid paying the full amount of tax?"
Employing a decent accountant would be your first move. |
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By (user no longer on site)
over a year ago
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"If you’re taking home over half a million in wages alone after tax, I think you’re going to be fine. People live on the food poverty line in this country who work full time . So I would not complain if I was getting taxed that amount. Just my opinion though.
This is absolutely nails it
I’m not earning that…lol, I wish I was!"
Haha no I wasn’t personally going at you sorry. Just making the point that half a million a year after tax is more than enough when you consider the reality of some people’s lives |
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!
Only £571000 that's more than most earn in a lifetime and way more than anyone needs
exactly
How much do people need?
I'd be happy with 2k a month
Quick maths say 2k per month is about 32000 per year gross. 35 years work, not including inflation is £1120000.
That would do me
But you’d lose nearly half in tax…."
And I'd still have more than I currently do |
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By (user no longer on site)
over a year ago
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!
Only £571000 that's more than most earn in a lifetime and way more than anyone needs
exactly
How much do people need?
I'd be happy with 2k a month
Quick maths say 2k per month is about 32000 per year gross. 35 years work, not including inflation is £1120000.
That would do me
But you’d lose nearly half in tax…."
And assuming Uni/Apprenticeship so starting properly paid work at 21… 35 years means retiring at 56…. That’s mighty young to afford to retire on such a low wage? Who’s going to pay for the pension to fund remaining 20+ years?  |
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!
Only £571000 that's more than most earn in a lifetime and way more than anyone needs
exactly
How much do people need?
I'd be happy with 2k a month
Quick maths say 2k per month is about 32000 per year gross. 35 years work, not including inflation is £1120000.
That would do me
But you’d lose nearly half in tax….
And assuming Uni/Apprenticeship so starting properly paid work at 21… 35 years means retiring at 56…. That’s mighty young to afford to retire on such a low wage? Who’s going to pay for the pension to fund remaining 20+ years? "
Good point. Make that 45 years! |
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By (user no longer on site)
over a year ago
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"If you’re taking home over half a million in wages alone after tax, I think you’re going to be fine. People live on the food poverty line in this country who work full time . So I would not complain if I was getting taxed that amount. Just my opinion though.
This is absolutely nails it
Don’t mind funding a couple of GPs with tax. If the corps and mega earners were also paying similar rates (not sums) then we’d all benefit from a few % cut or better services.
Don’t begrudge paying taxes to fund a civil society- it is the Govt’s feckless spending I object to!
"
I agree with you that corporations and mega wealthy should pay their share. Completely. But I would still say earning a million a year is a very high wage. But that’s enough from me haha  |
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By (user no longer on site)
over a year ago
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!
Only £571000 that's more than most earn in a lifetime and way more than anyone needs
exactly "
I kind of agree and disagree with this comment.
If the average salary was 30k per annum then in ten years that would be 300k and so on.
Even someone on 20k per annum could earn 600k in 30 years which is hardly a lifetime.
But yeah also people live to their means, so the more they earn the more they spend. |
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!
Only £571000 that's more than most earn in a lifetime and way more than anyone needs
exactly
I kind of agree and disagree with this comment.
If the average salary was 30k per annum then in ten years that would be 300k and so on.
Even someone on 20k per annum could earn 600k in 30 years which is hardly a lifetime.
But yeah also people live to their means, so the more they earn the more they spend."
And all that money goes into the economy and pays people’s wages & vat. |
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!
Only £571000 that's more than most earn in a lifetime and way more than anyone needs
exactly
How much do people need?
I'd be happy with 2k a month
Quick maths say 2k per month is about 32000 per year gross. 35 years work, not including inflation is £1120000.
That would do me
But you’d lose nearly half in tax….
And assuming Uni/Apprenticeship so starting properly paid work at 21… 35 years means retiring at 56…. That’s mighty young to afford to retire on such a low wage? Who’s going to pay for the pension to fund remaining 20+ years? "
Most won't ever get to retire on a standard pension |
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By (user no longer on site)
over a year ago
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!
Only £571000 that's more than most earn in a lifetime and way more than anyone needs
Maybe you’re using old data. More recently even the average wage working 40 years would earn much closer to £1m.
Most earn around 1k a month so that's 480000 in 40 years"
IFS data puts median individual at just over £20k, and ONS reckons the median household is £27k. Both of which provide much more than £1k per month take home. I was quoting gross not net btw. |
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!
Only £571000 that's more than most earn in a lifetime and way more than anyone needs
exactly
I kind of agree and disagree with this comment.
If the average salary was 30k per annum then in ten years that would be 300k and so on.
Even someone on 20k per annum could earn 600k in 30 years which is hardly a lifetime.
But yeah also people live to their means, so the more they earn the more they spend."
You need to take tax and NI from that |
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!
Only £571000 that's more than most earn in a lifetime and way more than anyone needs
Maybe you’re using old data. More recently even the average wage working 40 years would earn much closer to £1m.
Most earn around 1k a month so that's 480000 in 40 years
IFS data puts median individual at just over £20k, and ONS reckons the median household is £27k. Both of which provide much more than £1k per month take home. I was quoting gross not net btw. "
I don't like gross wage, it's a lie |
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By (user no longer on site)
over a year ago
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"If you’re taking home over half a million in wages alone after tax, I think you’re going to be fine. People live on the food poverty line in this country who work full time . So I would not complain if I was getting taxed that amount. Just my opinion though.
This is absolutely nails it
Don’t mind funding a couple of GPs with tax. If the corps and mega earners were also paying similar rates (not sums) then we’d all benefit from a few % cut or better services.
Don’t begrudge paying taxes to fund a civil society- it is the Govt’s feckless spending I object to!
I agree with you that corporations and mega wealthy should pay their share. Completely. But I would still say earning a million a year is a very high wage. But that’s enough from me haha "
It is indeed very high and rightly taxed - if ‘properly’ paid - to contribute to society. Another way to look at it..,, they get to keep 500k, but they also fund 5 GPs, or 10 nurses or slightly fewer Cops. |
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By (user no longer on site)
over a year ago
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"Because most people who earn that kind of money don’t do it as PAYE and rarely pay that amount of tax."
But they would probably pay VAT, Corp tax, tax on any money they use personally and still pay more tax paid than most. Not even counting the jobs created when not paying tax by PAYE at that amount
But whatever helps you sleep at night based on what media reports
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By (user no longer on site)
over a year ago
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"Because most people who earn that kind of money don’t do it as PAYE and rarely pay that amount of tax.
So how would you avoid paying the full amount of tax?
So tax is a highly charged and emotive subject. I'll try and give an example though, my day job pays me roughly £150k ish depending on retention and net promotion score, from that I pay roughly £60k of tax.
I also have my own business where I consult on various IT things company made just under £200k Gross Profit however the amount of tax paid from that was £7,472 thanks to the accountant doing some sums that I don't quite get.
I have said happy to pay my fair share and I think I do, I do a good bit of volunteering and charity stuff as well, simply put when you are self employed running a business you have no sick pay, no holiday pay, no pension, no maternity/paternity pay if it goes wrong you are up the creek without a paddle that's why they get let off a bit with tax. "
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By (user no longer on site)
over a year ago
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"Please I'm not having a dig at doctor's or any professional in public service. I think no one in the public sector should be paid more than the prime minister which is £142k a year. "
The current prime minister shouldn't even be paid £1.42 |
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"Please I'm not having a dig at doctor's or any professional in public service. I think no one in the public sector should be paid more than the prime minister which is £142k a year.
The current prime minister shouldn't even be paid £1.42"
That I agree with completely, and I've met him several times bumbling incompetence personified. |
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"Please I'm not having a dig at doctor's or any professional in public service. I think no one in the public sector should be paid more than the prime minister which is £142k a year. "
And how many GPs earn that sort of money? Most GPs earn between £70-100k. Salaried GPs start on £60,455. You can't just waltz out of medical school and become a GP either. For comparison, hospital consultants start on £84,559 and undergo a similar duration of postgraduate training. A newly graduated junior doctor earns £27,689, to inject a bit of context. |
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By (user no longer on site)
over a year ago
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"Please I'm not having a dig at doctor's or any professional in public service. I think no one in the public sector should be paid more than the prime minister which is £142k a year. "
Why use PM as a benchmark? An idiot with enough brass neck can reach that position. You can become PM with very few qualifications. Judges, senior Medics and many other needs years, even decades of training and experience. If their pay was capped that much there’d be an even greater shortage than there is today.
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"Please I'm not having a dig at doctor's or any professional in public service. I think no one in the public sector should be paid more than the prime minister which is £142k a year.
And how many GPs earn that sort of money? Most GPs earn between £70-100k. Salaried GPs start on £60,455. You can't just waltz out of medical school and become a GP either. For comparison, hospital consultants start on £84,559 and undergo a similar duration of postgraduate training. A newly graduated junior doctor earns £27,689, to inject a bit of context."
At least they’ll be paying their share of tax. They’ll earn approx £3000000 in 35 years! |
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"Please I'm not having a dig at doctor's or any professional in public service. I think no one in the public sector should be paid more than the prime minister which is £142k a year.
And how many GPs earn that sort of money? Most GPs earn between £70-100k. Salaried GPs start on £60,455. You can't just waltz out of medical school and become a GP either. For comparison, hospital consultants start on £84,559 and undergo a similar duration of postgraduate training. A newly graduated junior doctor earns £27,689, to inject a bit of context."
Yes when you are newly qualified you don't earn much that's true of all jobs.
Most GP's aren't salaried the greater majority are self employed and £150-300k is normal. |
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"Please I'm not having a dig at doctor's or any professional in public service. I think no one in the public sector should be paid more than the prime minister which is £142k a year.
Why use PM as a benchmark? An idiot with enough brass neck can reach that position. You can become PM with very few qualifications. Judges, senior Medics and many other needs years, even decades of training and experience. If their pay was capped that much there’d be an even greater shortage than there is today.
"
Because that is the most senior public sector job in the country. Doctors, nurses whoever else are public sector jobs that we pay for through taxes. |
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By (user no longer on site)
over a year ago
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"Also, if GPs shouldn't earn more than the PM, why should IT consultants?!
IT consultants in the public sector shouldn't, not aware of any public sector footballers. "
They have a 5 side every Saturday where I work |
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"Also, if GPs shouldn't earn more than the PM, why should IT consultants?!
IT consultants in the public sector shouldn't, not aware of any public sector footballers.
They have a 5 side every Saturday where I work "
But that is not part of the job is my point! |
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By (user no longer on site)
over a year ago
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"Also, if GPs shouldn't earn more than the PM, why should IT consultants?!
IT consultants in the public sector shouldn't, not aware of any public sector footballers.
They have a 5 side every Saturday where I work
But that is not part of the job is my point! "
We take it pretty seriously!!!
But no your point is correct |
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"Please I'm not having a dig at doctor's or any professional in public service. I think no one in the public sector should be paid more than the prime minister which is £142k a year.
And how many GPs earn that sort of money? Most GPs earn between £70-100k. Salaried GPs start on £60,455. You can't just waltz out of medical school and become a GP either. For comparison, hospital consultants start on £84,559 and undergo a similar duration of postgraduate training. A newly graduated junior doctor earns £27,689, to inject a bit of context.
Yes when you are newly qualified you don't earn much that's true of all jobs.
Most GP's aren't salaried the greater majority are self employed and £150-300k is normal. "
GP partners are responsible not only for doing the very taxing job of medical care, but also running the practice business and employing all the other staff required for that. My GP practice serves over 22,000 people and employs a large number of salaried GPs, various nurses, phlebotomists, a pharmacist, a physio, various admin people, cleaners, maintenance staff and all the rest. Is that not a job worthy of a decent salary? How much the partners earn is directly related to performance also. |
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"Also, if GPs shouldn't earn more than the PM, why should IT consultants?!
IT consultants in the public sector shouldn't, not aware of any public sector footballers. "
It's wonderful how everyone thinks their job (public or private) should be exempt from the "PMs salary" test.
We have a significant shortage of GPs in this country. Scores are looking to leave the NHS and so we need to find ways to alleviate that, not make it worse.
Instead of picking on GPs, why not pick on the bizarre local authority roles that attract big salaries for doing nothing in particular? |
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"Please I'm not having a dig at doctor's or any professional in public service. I think no one in the public sector should be paid more than the prime minister which is £142k a year.
And how many GPs earn that sort of money? Most GPs earn between £70-100k. Salaried GPs start on £60,455. You can't just waltz out of medical school and become a GP either. For comparison, hospital consultants start on £84,559 and undergo a similar duration of postgraduate training. A newly graduated junior doctor earns £27,689, to inject a bit of context.
Yes when you are newly qualified you don't earn much that's true of all jobs.
Most GP's aren't salaried the greater majority are self employed and £150-300k is normal.
GP partners are responsible not only for doing the very taxing job of medical care, but also running the practice business and employing all the other staff required for that. My GP practice serves over 22,000 people and employs a large number of salaried GPs, various nurses, phlebotomists, a pharmacist, a physio, various admin people, cleaners, maintenance staff and all the rest. Is that not a job worthy of a decent salary? How much the partners earn is directly related to performance also. "
I'm not saying it's not worthy of a decent salary, however the performance targets are a joke at best, and in reality the admin and running of the practice comes down to a good practice manager (who work incredibly hard and are underappreciated).
I have several friends that are currently GP's, some that are in retirement, and some at the beginning of their medical careers, I'm not having a go at them at all it's a hard job. Public sector pay needs to be looked at on a wider scope to get best value for money. |
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"Also, if GPs shouldn't earn more than the PM, why should IT consultants?!
IT consultants in the public sector shouldn't, not aware of any public sector footballers.
It's wonderful how everyone thinks their job (public or private) should be exempt from the "PMs salary" test.
We have a significant shortage of GPs in this country. Scores are looking to leave the NHS and so we need to find ways to alleviate that, not make it worse.
Instead of picking on GPs, why not pick on the bizarre local authority roles that attract big salaries for doing nothing in particular? "
Don't even get me started on local authority jobs that are a complete waste of bloody money, we only got on the subject of GP's as someone said £500k would pay for 5 of them. |
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"Please I'm not having a dig at doctor's or any professional in public service. I think no one in the public sector should be paid more than the prime minister which is £142k a year.
And how many GPs earn that sort of money? Most GPs earn between £70-100k. Salaried GPs start on £60,455. You can't just waltz out of medical school and become a GP either. For comparison, hospital consultants start on £84,559 and undergo a similar duration of postgraduate training. A newly graduated junior doctor earns £27,689, to inject a bit of context.
Yes when you are newly qualified you don't earn much that's true of all jobs.
Most GP's aren't salaried the greater majority are self employed and £150-300k is normal.
GP partners are responsible not only for doing the very taxing job of medical care, but also running the practice business and employing all the other staff required for that. My GP practice serves over 22,000 people and employs a large number of salaried GPs, various nurses, phlebotomists, a pharmacist, a physio, various admin people, cleaners, maintenance staff and all the rest. Is that not a job worthy of a decent salary? How much the partners earn is directly related to performance also.
I'm not saying it's not worthy of a decent salary, however the performance targets are a joke at best, and in reality the admin and running of the practice comes down to a good practice manager (who work incredibly hard and are underappreciated).
I have several friends that are currently GP's, some that are in retirement, and some at the beginning of their medical careers, I'm not having a go at them at all it's a hard job. Public sector pay needs to be looked at on a wider scope to get best value for money. "
I don't know what your friends do, but the practice partners at our surgery are leading from the front and have done all the way through. Every vaccine clinic (evenings and weekends), they've been on shift with the other staff. It's an absolute bastard to get an appointment, to get through on the phone. I dialled 281 times over an hour and 4 mins this morning to get an appointment but despite that, I'll defend the salary they earn. The GP partners have the ultimate responsibility for the staff and everything that occurs. To suggest that they farm it out to a practice manager and so they shouldn't earn XYZ is nonsense. Let's get rid of every CEO or MD because obviously they farm out the tasks to staff too  |
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By (user no longer on site)
over a year ago
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"
It's wonderful how everyone thinks their job (public or private) should be exempt from the "PMs salary" test.
"
The ‘PM salary’ test is a joke as everyone knows the £142k salary is just the tip of the iceberg. Just looks at how much the wealth of the last two PMs has increase (dramatically) after leaving office. Most doctors don’t get to retire from practise and then make £10m a year ‘consulting’ for corporations and banks. So it is disingenuous to use it as a benchmark - regardless of sector. |
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"
It's wonderful how everyone thinks their job (public or private) should be exempt from the "PMs salary" test.
The ‘PM salary’ test is a joke as everyone knows the £142k salary is just the tip of the iceberg. Just looks at how much the wealth of the last two PMs has increase (dramatically) after leaving office. Most doctors don’t get to retire from practise and then make £10m a year ‘consulting’ for corporations and banks. So it is disingenuous to use it as a benchmark - regardless of sector. "
They would pay over £4000000 on tax on that £10 000000 don’t forget. |
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"
It's wonderful how everyone thinks their job (public or private) should be exempt from the "PMs salary" test.
The ‘PM salary’ test is a joke as everyone knows the £142k salary is just the tip of the iceberg. Just looks at how much the wealth of the last two PMs has increase (dramatically) after leaving office. Most doctors don’t get to retire from practise and then make £10m a year ‘consulting’ for corporations and banks. So it is disingenuous to use it as a benchmark - regardless of sector. "
Did you see the list of 30 sitting MPs who might have to quit "extra" jobs if the parliamentary rules change? I believe only 2 were not Conservative. One Lib Dem and one Labour and both had philanthropic sorts of extra jobs with charities etc. The majority of the Conservative MPs were consulting for big banks, energy companies, hedge fund type organisations etc. It was quite stark to see that a) very few non Conservatives would be affected and b) how much they were earning for a handful of days work IN ADDITION to the MPs salary. Bonkers. |
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By (user no longer on site)
over a year ago
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"So public sector pay shouldn't be capped? You think that? There has to be a cap surely it's taxpayers money. "
Nobody objected to a cap. Simply the use of PM salary as benchmark for that cap.
And how is it ok to earn (£350k a year advising on IT, as you used in your own example) yet A GP who will have had to train years and years and have considerably more overhead and responsibility have to have a cap far under that. I don’t follow the logic? Is it simply that GPs are taxpayer funded? |
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By (user no longer on site)
over a year ago
|
"
It's wonderful how everyone thinks their job (public or private) should be exempt from the "PMs salary" test.
The ‘PM salary’ test is a joke as everyone knows the £142k salary is just the tip of the iceberg. Just looks at how much the wealth of the last two PMs has increase (dramatically) after leaving office. Most doctors don’t get to retire from practise and then make £10m a year ‘consulting’ for corporations and banks. So it is disingenuous to use it as a benchmark - regardless of sector.
Did you see the list of 30 sitting MPs who might have to quit "extra" jobs if the parliamentary rules change? I believe only 2 were not Conservative. One Lib Dem and one Labour and both had philanthropic sorts of extra jobs with charities etc. The majority of the Conservative MPs were consulting for big banks, energy companies, hedge fund type organisations etc. It was quite stark to see that a) very few non Conservatives would be affected and b) how much they were earning for a handful of days work IN ADDITION to the MPs salary. Bonkers. "
This couple is making good points !!!
If they could be so kind as to PM me and explain what it all means it would be much appreciated thanks |
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By (user no longer on site)
over a year ago
|
"
It's wonderful how everyone thinks their job (public or private) should be exempt from the "PMs salary" test.
The ‘PM salary’ test is a joke as everyone knows the £142k salary is just the tip of the iceberg. Just looks at how much the wealth of the last two PMs has increase (dramatically) after leaving office. Most doctors don’t get to retire from practise and then make £10m a year ‘consulting’ for corporations and banks. So it is disingenuous to use it as a benchmark - regardless of sector.
They would pay over £4000000 on tax on that £10 000000 don’t forget."
Like hell they would. Company would be offshore and the fees paid to that. Hardly any would see the light of day in UK tax jurisdiction. All legal and above board, if not morally within the realms of what mist average tax payers would expect. |
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"My husband had to pay 40% tax. It irritated the life out of me. I didn't understand why he had to pay double the amount of tax when he would have paid his fair share had it been 20%
R"
The freeze on increasing the personal allowance means I'll get dragged into the 40% tax bracket at some point (depending on how my company decide on pay rises). Not immediately, but at some point. Plus an increase in NI. I shall have to just pay up, I suppose.... |
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"So public sector pay shouldn't be capped? You think that? There has to be a cap surely it's taxpayers money.
Nobody objected to a cap. Simply the use of PM salary as benchmark for that cap.
And how is it ok to earn (£350k a year advising on IT, as you used in your own example) yet A GP who will have had to train years and years and have considerably more overhead and responsibility have to have a cap far under that. I don’t follow the logic? Is it simply that GPs are taxpayer funded? "
To put into context though it has taken me 20 years of experience to get to where I am now, I would argue legitimately that some (not all) in IT have been learning far longer than some medical professionals.
The world around you is run by and dictated by the quality of the IT infrastructure everything from the electric to switch your kettle on to the transportation systems you use all rely on massive IT infrastructure, when it comes to huge projects like that there is very few people with the skillset to do it.
|
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By (user no longer on site)
over a year ago
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"My husband had to pay 40% tax. It irritated the life out of me. I didn't understand why he had to pay double the amount of tax when he would have paid his fair share had it been 20%
R"
We live in a progressively taxed society (in theory) the better off subsidise those less fortunate or able to earn higher amounts. It is not a direct ‘fair share’ system where everyone pays in what they get out. If everyone paid the same actual percentage rate, then that applied rate would be far higher than 20%, so he was not ‘paying double’ fair share I suspect and the 45% tax payers would moan they were subsidising his lower taxes too. ?? |
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"So public sector pay shouldn't be capped? You think that? There has to be a cap surely it's taxpayers money.
Nobody objected to a cap. Simply the use of PM salary as benchmark for that cap.
And how is it ok to earn (£350k a year advising on IT, as you used in your own example) yet A GP who will have had to train years and years and have considerably more overhead and responsibility have to have a cap far under that. I don’t follow the logic? Is it simply that GPs are taxpayer funded?
To put into context though it has taken me 20 years of experience to get to where I am now, I would argue legitimately that some (not all) in IT have been learning far longer than some medical professionals.
The world around you is run by and dictated by the quality of the IT infrastructure everything from the electric to switch your kettle on to the transportation systems you use all rely on massive IT infrastructure, when it comes to huge projects like that there is very few people with the skillset to do it.
"
My uncle has going on for 40yrs experience in micro electronics, he has a degree in electrical engineering. He works in an area involved with the renewable energy sector, designing components for things like solar panels. He manages huge worldwide projects and collaborations but he earns absolutely nowhere near £100k it even close. His role would appear to be absolutely central to us sorting out the climate change issue - should such roles not be better paid?!
The point is, we all think our jobs are more important than the next person and seek to justify things to ourselves.
Mr KC and I have a decent joint salary but still way, way less than one average salaried GP (that's our joint income). On that, we are supporting my Dad. Our adult son (long story). Plus our household of us + 4yo and my brother scrounges off us too when he runs out. We'd love to earn more, but such is life. |
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By (user no longer on site)
over a year ago
|
"So public sector pay shouldn't be capped? You think that? There has to be a cap surely it's taxpayers money.
Nobody objected to a cap. Simply the use of PM salary as benchmark for that cap.
And how is it ok to earn (£350k a year advising on IT, as you used in your own example) yet A GP who will have had to train years and years and have considerably more overhead and responsibility have to have a cap far under that. I don’t follow the logic? Is it simply that GPs are taxpayer funded?
To put into context though it has taken me 20 years of experience to get to where I am now, I would argue legitimately that some (not all) in IT have been learning far longer than some medical professionals.
The world around you is run by and dictated by the quality of the IT infrastructure everything from the electric to switch your kettle on to the transportation systems you use all rely on massive IT infrastructure, when it comes to huge projects like that there is very few people with the skillset to do it.
"
I know. Our pattern is very similar. I’m just saying it is no harder than GP. I have medics in the family and went towards IT as job is piece of piss in comparison to what some of them have to do and how hard they had to work to quality and continually training. You can’t google how to do surgery and get away with it. |
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"He manages huge worldwide projects and collaborations but he earns absolutely nowhere near £100k it even close. His role would appear to be absolutely central to us sorting out the climate change issue - should such roles not be better paid?!
The point is, we all think our jobs are more important than the next person and seek to justify things to ourselves.
Mr KC and I have a decent joint salary but still way, way less than one average salaried GP (that's our joint income). On that, we are supporting my Dad. Our adult son (long story). Plus our household of us + 4yo and my brother scrounges off us too when he runs out. We'd love to earn more, but such is life. "
KC I'm not disagreeing with you! Absolutely should be paid more, it often comes down to supply and demand though like most things in life. I once knew a chap who was a boiler engineer, normal gas boiler heating system things. He had some certificate that no one goes and gets normally which allowed him to work in petrol stations. Apparently you need some extra qualification for that, there was 2 of them in the whole of the UK, he was making £400k a year.
Supply and demand like all things, I know when the current crop of youngsters leaving uni and school gain some experience I'm for the scrap heap and no longer in demand as there will be more supply. |
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"So public sector pay shouldn't be capped? You think that? There has to be a cap surely it's taxpayers money.
Nobody objected to a cap. Simply the use of PM salary as benchmark for that cap.
And how is it ok to earn (£350k a year advising on IT, as you used in your own example) yet A GP who will have had to train years and years and have considerably more overhead and responsibility have to have a cap far under that. I don’t follow the logic? Is it simply that GPs are taxpayer funded?
To put into context though it has taken me 20 years of experience to get to where I am now, I would argue legitimately that some (not all) in IT have been learning far longer than some medical professionals.
The world around you is run by and dictated by the quality of the IT infrastructure everything from the electric to switch your kettle on to the transportation systems you use all rely on massive IT infrastructure, when it comes to huge projects like that there is very few people with the skillset to do it.
I know. Our pattern is very similar. I’m just saying it is no harder than GP. I have medics in the family and went towards IT as job is piece of piss in comparison to what some of them have to do and how hard they had to work to quality and continually training. You can’t google how to do surgery and get away with it. "
Shame that Google is a godsend at times! |
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By (user no longer on site)
over a year ago
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"
My uncle has going on for 40yrs experience in micro electronics, he has a degree in electrical engineering. He works in an area involved with the renewable energy sector, designing components for things like solar panels. He manages huge worldwide projects and collaborations but he earns absolutely nowhere near £100k it even close. His role would appear to be absolutely central to us sorting out the climate change issue - should such roles not be better paid?!
"
With the greatest respect to your uncle I suspect a large part of the reason for that would be his own complacency. Assuming he’s even motivated by such things - and many are not - but I suspect that if he's worked for the same company for many many years and not ‘sold’ (marketed) himself then he has only himself to blame. I know that’s a blind sweeping statement - but generally speaking highly qualified engineers with decades of international large scale project experience should be earning much closer to what you expect than what you state. But it won’t come to you on a plate no matter how good you are, you have to go after the opportunity and negotiate hard when it presents. As with any job or trade we live in a supply/demand economy and everyone wants to buy low and sell high. Including employers on the whole. (Mr) |
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"He manages huge worldwide projects and collaborations but he earns absolutely nowhere near £100k it even close. His role would appear to be absolutely central to us sorting out the climate change issue - should such roles not be better paid?!
The point is, we all think our jobs are more important than the next person and seek to justify things to ourselves.
Mr KC and I have a decent joint salary but still way, way less than one average salaried GP (that's our joint income). On that, we are supporting my Dad. Our adult son (long story). Plus our household of us + 4yo and my brother scrounges off us too when he runs out. We'd love to earn more, but such is life.
KC I'm not disagreeing with you! Absolutely should be paid more, it often comes down to supply and demand though like most things in life. I once knew a chap who was a boiler engineer, normal gas boiler heating system things. He had some certificate that no one goes and gets normally which allowed him to work in petrol stations. Apparently you need some extra qualification for that, there was 2 of them in the whole of the UK, he was making £400k a year.
Supply and demand like all things, I know when the current crop of youngsters leaving uni and school gain some experience I'm for the scrap heap and no longer in demand as there will be more supply. "
His job is on the shortage list for skilled worker visas and they're desperately trying to recruit more engineers because projects have increased exponentially. I doubt he's suddenly going to have his salary increased by tens of thousands of pounds though.
Not everyone does their job for massive salaries. I happen to know my uncle enjoys playing with electronics, he does it for a hobby too. My job should earn me more really but there we are. |
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"
My uncle has going on for 40yrs experience in micro electronics, he has a degree in electrical engineering. He works in an area involved with the renewable energy sector, designing components for things like solar panels. He manages huge worldwide projects and collaborations but he earns absolutely nowhere near £100k it even close. His role would appear to be absolutely central to us sorting out the climate change issue - should such roles not be better paid?!
With the greatest respect to your uncle I suspect a large part of the reason for that would be his own complacency. Assuming he’s even motivated by such things - and many are not - but I suspect that if he's worked for the same company for many many years and not ‘sold’ (marketed) himself then he has only himself to blame. I know that’s a blind sweeping statement - but generally speaking highly qualified engineers with decades of international large scale project experience should be earning much closer to what you expect than what you state. But it won’t come to you on a plate no matter how good you are, you have to go after the opportunity and negotiate hard when it presents. As with any job or trade we live in a supply/demand economy and everyone wants to buy low and sell high. Including employers on the whole. (Mr) "
I can't remember how long he's been at the current place, he'd been made redundant twice prior to that. Bear in mind that not everyone can commit to jobs just anywhere and have things tying them to certain geographic areas or other responsibilities that they must attend to, in addition to their paid job. I'm sure he'd love a nice big Middle East consultant salary (for example) but simply not possible. |
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By (user no longer on site)
over a year ago
|
"
My uncle has going on for 40yrs experience in micro electronics, he has a degree in electrical engineering. He works in an area involved with the renewable energy sector, designing components for things like solar panels. He manages huge worldwide projects and collaborations but he earns absolutely nowhere near £100k it even close. His role would appear to be absolutely central to us sorting out the climate change issue - should such roles not be better paid?!
With the greatest respect to your uncle I suspect a large part of the reason for that would be his own complacency. Assuming he’s even motivated by such things - and many are not - but I suspect that if he's worked for the same company for many many years and not ‘sold’ (marketed) himself then he has only himself to blame. I know that’s a blind sweeping statement - but generally speaking highly qualified engineers with decades of international large scale project experience should be earning much closer to what you expect than what you state. But it won’t come to you on a plate no matter how good you are, you have to go after the opportunity and negotiate hard when it presents. As with any job or trade we live in a supply/demand economy and everyone wants to buy low and sell high. Including employers on the whole. (Mr)
I can't remember how long he's been at the current place, he'd been made redundant twice prior to that. Bear in mind that not everyone can commit to jobs just anywhere and have things tying them to certain geographic areas or other responsibilities that they must attend to, in addition to their paid job. I'm sure he'd love a nice big Middle East consultant salary (for example) but simply not possible. "
Granted. Preparing to manage those kinds of things is a job in and of itself. Takes a lot of groundwork. And does not suit everyone’s circumstances. But 40 years is a long time over a career to manage prospects. But as you say, not all about the money and if he’s happy and enjoys what he does then that counts for a lot more really.
This thread went a bit off topic!!! |
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"
My uncle has going on for 40yrs experience in micro electronics, he has a degree in electrical engineering. He works in an area involved with the renewable energy sector, designing components for things like solar panels. He manages huge worldwide projects and collaborations but he earns absolutely nowhere near £100k it even close. His role would appear to be absolutely central to us sorting out the climate change issue - should such roles not be better paid?!
With the greatest respect to your uncle I suspect a large part of the reason for that would be his own complacency. Assuming he’s even motivated by such things - and many are not - but I suspect that if he's worked for the same company for many many years and not ‘sold’ (marketed) himself then he has only himself to blame. I know that’s a blind sweeping statement - but generally speaking highly qualified engineers with decades of international large scale project experience should be earning much closer to what you expect than what you state. But it won’t come to you on a plate no matter how good you are, you have to go after the opportunity and negotiate hard when it presents. As with any job or trade we live in a supply/demand economy and everyone wants to buy low and sell high. Including employers on the whole. (Mr)
I can't remember how long he's been at the current place, he'd been made redundant twice prior to that. Bear in mind that not everyone can commit to jobs just anywhere and have things tying them to certain geographic areas or other responsibilities that they must attend to, in addition to their paid job. I'm sure he'd love a nice big Middle East consultant salary (for example) but simply not possible.
Granted. Preparing to manage those kinds of things is a job in and of itself. Takes a lot of groundwork. And does not suit everyone’s circumstances. But 40 years is a long time over a career to manage prospects. But as you say, not all about the money and if he’s happy and enjoys what he does then that counts for a lot more really.
This thread went a bit off topic!!! "
You can't pre plan what happens to your children, parents/parents in law or your spouse. If you can imagine many challenges involving the health and welfare of all those people, perhaps you'd understand? No amount of career planning or ladder climbing can plan for that stuff. |
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"You can’t google how to do surgery and get away with it.
Shame that Google is a godsend at times! "
Surgery ? Perhaps not..that would be a bit risky !
But we are in an era where some patients are incredibly well-informed and could be considered subject matter experts in their chosen conditions, far and above their local GP.
I know a woman who has 2 Degrees, 1 in Medicine, the other in Law I think. She's happy in her nat min wage job.
But as she says, discussions with her GP tend to be "interesting" when discussing her illness. He flounders, fortunately she is able to gently steer him in the direction she needs support with. Sometimes patients need to manage their own GP's.
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By (user no longer on site)
over a year ago
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"If you earned £1000000 in the uk, you would only have a net pay packet of £571000. That is a lot of tax!
Who says the rich don’t pay their way!"
actually not true, there's way around it |
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By (user no longer on site)
over a year ago
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"
My uncle has going on for 40yrs experience in micro electronics, he has a degree in electrical engineering. He works in an area involved with the renewable energy sector, designing components for things like solar panels. He manages huge worldwide projects and collaborations but he earns absolutely nowhere near £100k it even close. His role would appear to be absolutely central to us sorting out the climate change issue - should such roles not be better paid?!
With the greatest respect to your uncle I suspect a large part of the reason for that would be his own complacency. Assuming he’s even motivated by such things - and many are not - but I suspect that if he's worked for the same company for many many years and not ‘sold’ (marketed) himself then he has only himself to blame. I know that’s a blind sweeping statement - but generally speaking highly qualified engineers with decades of international large scale project experience should be earning much closer to what you expect than what you state. But it won’t come to you on a plate no matter how good you are, you have to go after the opportunity and negotiate hard when it presents. As with any job or trade we live in a supply/demand economy and everyone wants to buy low and sell high. Including employers on the whole. (Mr)
I can't remember how long he's been at the current place, he'd been made redundant twice prior to that. Bear in mind that not everyone can commit to jobs just anywhere and have things tying them to certain geographic areas or other responsibilities that they must attend to, in addition to their paid job. I'm sure he'd love a nice big Middle East consultant salary (for example) but simply not possible.
Granted. Preparing to manage those kinds of things is a job in and of itself. Takes a lot of groundwork. And does not suit everyone’s circumstances. But 40 years is a long time over a career to manage prospects. But as you say, not all about the money and if he’s happy and enjoys what he does then that counts for a lot more really.
This thread went a bit off topic!!!
You can't pre plan what happens to your children, parents/parents in law or your spouse. If you can imagine many challenges involving the health and welfare of all those people, perhaps you'd understand? No amount of career planning or ladder climbing can plan for that stuff. "
There will always be exceptional cases that make the general rule impossible. Circumstances and personal choices are big factors. That does not mean that the opportunity is not there. It is choice whether to take it is and whether it is worthwhile. And partly why we need a progressive tax system in the first place. |
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The UK is actually well known for is relaxed tax laws, there's always a loop hole and a way to reduce the figure especially where being self employed or running a company is concerned. A "good" albeit questionably ethical accountant can easily reduce the figure massively.
Finally my training comes in handy for something other than double entry jokes. |
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