Too much taxation?

[Not_Fred_Honest]

I sat down with my accountant this year to sort out my return. Its always a depressing time.

He told me I'd paid just over 10k in vat last year. I'm paying £1200 per month just paying vat on bills and shopping. Next time your in tescos just look at the receipt... there the vat.

So you think well, I'll just save the money, spend less .........but you cant do that too.

Low earners with a total taxable income of less than £17,570 in 2024/25 are eligible for the starting savings rate. The starting savings rate is a special 0% tax rate on interest up to £5,000. It is reduced for every £1 you earn over your personal income tax allowance, which is set at £12,570 in the 2024/25 tax year.

Interest on savings is now taxed at income rates.

I cant use the car without paying tax too. Petrol about £1.35 per litre right now, 53p of that is tax.

Road fuel duty: The standard rate for unleaded petrol, diesel, biodiesel, and bioethanol is 52.95 pence per liter. This rate has been frozen since 2011-12, with a temporary 5 pence cut extended to 2024-25.

With council tax, income tax, tax on my pension, tax on my savings, tax on the car, tax on filling it up and fixing it, tax on my shopping, tax on my phone bill, vat on my broadband bill...... he told me its adding up to 60% tax rate. And don't even dream of living long enough to claim your state pension, you cant afford to claim it. Its income and will be lost to income tax on your savings and private pension.


It's so depressing

 

[Murran2]

Thanks for really cheering me up lol

 

[Not_Fred_Honest]

You can laff all you want !!

You don't have to worry there zero tax on Incontinence pants !!

 

[Murran2]

And there's no tax on arseholes either

 

[Not_Fred_Honest]

You should know !!

 

[Murran2]

So childish grow up

 

[Not_Fred_Honest]

You first !!

 

[Murran2]

Wait I'll go find ur dummy lol

 

[Not_Fred_Honest]

I'm a grown man !! I dont have a dummy, I have a BALL GAG !!!

 

[Murran2]

Pmsl really

 

[ladymuck]

Why does a perfectly rational subject have to descend into nastiness? It happens so often on this site. It's a waste of time trying to engage in a decent discussion.