Quote:
Originally Posted by ianch99
You really are not listening here. I am not talking about PAYE earnings which a lot of high net worth individuals do not receive in meaningful terms. I know about RSU's, I get them and I pay an effective tax rate of over 50% on them. Again, I am not talking about the people who receive taxed at source income.
Here's an article that covers this problem: https://www.lse.ac.uk/research/resea...ich-really-pay
This survey was done in 2015-2016. The wealth inequality has increases markedly since then. So back to my point:
The fact that you return back to the PAYE use case means you are not looking at those who generate their wealth through other means, exactly as intended.
I will leave this point with you, again from the article above:
and lastly, Rishi Sunak paid effective tax rate of 23% on £2.2m income in 2023, roughly the same as an average nurse earning £37,000. You would find this perfectly acceptable I presume?
Labour should commission a root & branch reform of the tax system for high net worth individuals and large corporates to make the playing field a bit more level. |
I think the issue is one of perspective
Someone on 30k per year looks at someone on 60k per year and says, they earn twice what I do, they can afford to pay a bit more tax , they can change their lifestyle. Someone on 60k looks at someone on a 100k per year and thinks the same. The issue is that people always think that the ring above should pay more and if required adjust their lifestyle to fit without needing to make a change themselves
Going back to PAYE and RSU and I agree that this is personal, not general
I was given a block of RSU’s and I also went into an agreement whereby I purchased an amount of RSU’s per month with money I had already paid tax on.
Company gets bought and taken private the RSU’s are converted into cash equities which vest/are paid out at the same time as RSU’s would have vested. Cash equities are paid as PAYE which i pay tax at 45%, NI and employers NI
Hardly seems fair does it ?