withdrawal symptoms

[paddy]

I am already thinking about the next build but in the UK the tax year ends on the 5th April and i absolutely must get my tax sorted
I am slowly winding up the business however we have a stupid system here where we get a state pension that we pay into during our working life however we also get a tax free allowance on income but because they froze the tax free allowance a few years ago the pension now exceeds the allowance so the state pays a pension and we then have to pay the state tax on it......you couldn't make it up...lol
Last week they declared that their are more tax payers aged 70 than aged 30.....

 

[Barney]

I knew that taxes were bad in the UK. However, I understand your words but have no idea what you just wrote. We use an accountant.

 

[paddy]

To put it simply
Say you can earn £10k a year before you have to pay tax however the pension they give you is £11k so immediately they pay you...you have to fill out a tax return form and pay them back some of what they just paid you.

 

[jknaus]

Could be Canadian where they will come up with a new tax and back date it in order to get their "fair" share. Or Canadian Retired Military where when you take Old Age Pension, they claw back the "Bridge Amount" from your military pension. Its only 700 or 800 a month you lose because you gained the CP which we have payed into our whole adult lives.

 

[moon puppy]

Yeah we got a bit of history regarding those British taxes.


I'm doing our taxes this weekend.
Isn't it funny that election day is nearly 6 months from tax day?

 

[Rhino]

Since we're all having our say, Warren County property taxes jumped 30-45% across the board this year. Where is Alferd Packer when he is needed most?! I would be tickled to sell my place for the 2025 assessed value of $226K!

 

[Heavens Eagle]

Yeah Chris they jumped my property tax up as well, though it is now about what my house is actually worth.

Here is something that I think we can all agree on.

 

[Barney]

This has been a month of cheer on the tax front. We owe the Fed 1/3 of what we did last year, the state 1/4, and the city 0! Plus, they passed a Social Security Fairness act. As a teacher the union took %% of my check (15%) for my retirement. Then I was penalized when I went to draw Social Security. The Gubment sent me a check for the difference from last February to this year and my check will bump up some. Maybe I can afford to buy some frivolous things, like glue!

 

[Steve Ski]

Ah, no worries, WA state is going to rack up a hefty tax bill for us all on the eastside, just cause they can Taxation without representation is supposed to be a big no-no,............ya right.

Yeah we got a bit of history regarding those British taxes.
View attachment 179346

I'm doing our taxes this weekend.
Isn't it funny that election day is nearly 6 months from tax day?

That's what ya call, on purpose!