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Finally found my way home after a long ten year absence
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Rob (No FBPE please)
69.7K posts
Rob (No FBPE please)
@RobNoLastName
Retired at 40 Vice President: Lloyd’s of London market. Unretired at 42. Previously Gov, software, charity. No rudeness please. More in longer bio if useful
London & Deal Katılım Kasım 2007
2.9K Takip Edilen5.3K Takipçiler
@lordclifton2 @asc81272 Exactly.
If I want to spend the money I earn (how dare I!) then I have to lock it away for 30 years and even then have it taxed when I withdraw it
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@asc81272 @RobNoLastName £20k a year max in an ISA and a pension you can’t touch for 20-30 years.
Chancellor you are truly spoiling us!
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On a portion of my income I pay 60% tax.
On my investments I pay almost 50%
If ever those investments make a loss I get nothing back.
I take all the risk for only half the reward.
It’s now financially viable for me to open offshore trusts.
Well done Gov. Now you get nothing.
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@rmvandulken You can put £60 into a SIPP and I'm maxing that out (which bens the Gov as they tax me on what I take out of my pension!).
PBonds maxxed
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@RobNoLastName Oh I don’t know - SEIS/EIS, pensions, Premium Bonds, and the £20k a year which a partner can put into ISAs?
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Not having a pop at Henry - he's a follower and I like him - but this highlights a structural problem with the system: people don't understand it, hence they don't understand the consequences
Henry V@xela19721
@RobNoLastName There is no 60% tax bracket.
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@xela19721 There is.
When you earn over £100k you lose £1 of your tax free allowance for every £2 you earn. So with income tax it's effectively 60%.
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@MattCon90191238 @Reasonable17535 I feel my reply bested him ;)
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@RobNoLastName @Reasonable17535 I shouldn't bother Rob. He's got eff all followers, has never posted anything and has a stupid moustache. Just a stupid bot and not worth responding to
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@RickTusgrin72 @TonyReformUK Agree, Rick.
I don't mind paying into the pot. I object to the pot getting more than me!
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@RobNoLastName @TonyReformUK Good for you, Rob.
Many are doing the same.
Quite rightly.
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@rmvandulken Right, so that's £20k a year you're allowed to save.... after that, then what?
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@WindfallInvests I do - but many of my investments sit outside
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@RobNoLastName You pay 50% tax on your investments? How comes? Do you not use a tax free isa??
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@mandotheway100 @brumbitcoin Advice incoming, thanks bud. Have hired some specialists (at last - I left it too long)
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@RobNoLastName @brumbitcoin If you’re getting taxed at 50% on your investments then you need some advice. Plus offshore doesn’t mean it will always be tax efficient as you’ll have to bring back your the uk at some point. And trusts are also taxed.
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Rob (No FBPE please) retweetledi
@Reasonable17535 Me keeping 40% of what I earn is greedy.
The Gov keeping 60% of what I earn isn’t?
Is it percentages or logic you don’t understand?
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@wearesiam We borrow it from them to give it to them!
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@RobNoLastName And still giving money we don't have to foreigners
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The Government borrowed £14.3bn in February.
£13bn of that was to pay debt interest.
We're paying off the credit card with a credit card.
When the left say "just borrow more" they haven't twigged they're taking money away from public services and giving it to banks
Fools.
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@RobNoLastName It's a similar line of thinking to taking on more staff, it's not worth it, so less turnover.
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Liz Truss was forced out immediately for lesser numbers
Why aren't Labour treated the same!
Liam Halligan@LiamHalligan
So the UK's 10-year gilt yield - the cost of government borrowing - is now up at 2008 levels. An 18-year high The difference is that, back then, UK national debt was 48pc of GDP, and now it's the best part of 100pc. So the debt service costs are much MUCH heavier. Of the £14.3bn the UK government borrowed in February alone, no less than £13bn of that was spent on interest on existing debts - a situation which is not only unsustainable, but very close to provoking a disastrous financial collapse. Yet still, our national discourse is all about more spending, more borrowing, more "state intervention". When is the Labour party – and much of the listless, unthinking rump of the UK's political and media class – going to start acknowledging reality? WHEN ....?
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@brumbitcoin That’s a great question and I IMAGINE it depends on everyone’s unique circumstance.
I’ve reached the limit now where I can’t put anything anywhere without it being taxed heavily.
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@RobNoLastName What's the number where trusts start to make sense?
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Marten here thinks “ocean finance” are the world’s leading experts in financial management.
If you’re borrowing expensive money to pay off cheap money, you may not be Warren Buffet.
Marten@MartynMarten
@RobNoLastName Lots of people all over pay off credit cards with credit cards , it’s called consolidation and a balance transfer.
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@MartynMarten lol when you’re quoting the “ocean finance playbook” it’s possibly a time to consider you haven’t received the best financial advice
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@RobNoLastName Lots of people all over pay off credit cards with credit cards , it’s called consolidation and a balance transfer.
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@Reasonable17535 Ahh so your argument is made on an assumption but you call me misleading?
Everything I’ve posted is based in fact.
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@RobNoLastName How much is your income then? I made an assumption based on your bio, you likely earn £200k+.
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Got to love Twitter.
Me keeping 40% of what I earn is greedy.
Government keeping 60% of what I earn is reasonable.
Amusing when someone defeats their own argument isn’t it.
ReasonableTakes@Reasonable17535
@RobNoLastName Another of these X whiners, you're probably sitting on a few million, go live your life and stop being so greedy.
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@Reasonable17535 Then why stop at 60%?
Given you’re so blessed, and it’s not because you work hard that you earn such sums, why not 90%?
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@RobNoLastName I fully understand the point you're making, I'm in the same position, a small portion of my income is taxed at 60%. But i'm also aware that i'm in an incredibly blessed position compared to most people.
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@Reasonable17535 So by your own admission you don’t know if it’s a small part of my income or not.
When you accuse me of being misleading, did you think that though?
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@RobNoLastName You're being misleading, you're not being taxed 60%. A small part of your income from 100-125k as you lose tax free allowances is taxed at 60%.
If you're earning like £125k then yeah kinda sucks but if you're on £200k+ that small part where you pay 60% isn't that big of a deal.
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