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Tax Man
March 7, 2016

Joined: May 8, 2014
Posts: 1204
Tax Man

March 7, 2016

So today the postman delivered my new tax code ,yippee I've only one pension that will accrue tax deductions.But the taxman here is rubbing his hands together with glee , I'll explain over here (Ireland) they have a tax called the universal social charge (U.S.C) like we had a green tax on fuel here they tax everything over 10k except the old age pension from foreign shores.Looking at the tax system now the middle tax bracket starts lower and I'm glad I'm retired 40%tax at 32k ,shite !!

 

March 8, 2016

Joined: May 12, 2014
Posts: 684
Tax Man

March 8, 2016

The 40% threshold is about to rise and keep rising until it reaches £50k pa according to Gideon (George) Osborne. I have 4 pensions and how they work out my tax code is entirely beyond me, some I get at 20%, some at 40% and one I get no allowance at all on. It's like mark Twain said, "there are only two things in life that are certain, taxes and death" I think it was him!!

March 8, 2016

Joined: May 14, 2014
Posts: 977
Tax Man

March 8, 2016

David, our tax experts have a punning clan,,, they have a bag full of coins, with a different number on each side, and pull only one out of the pot. That is then spun as in football kick off heads or tails, with percentages from not less then 52%, up to 175% for the top amount. That way, we lose, they win, we grumble, they grin and extend their hands...which are really excavator buckets... "its the same, the whole world over, aint it all a bl***y shame...."  Nothing changes. Revolution anyone??


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