Government giving "rich" 2bn in tax relief

Re: Order of importance of work

I agree with you about lawyers - I've been keeping several lawyers kids in private school for the last eight years (I have a neighbour from hell, unfortunately) - and would add judges (in my personal experience arrogant, bad-tempered and contrary).

Doctors, at the senior levels in particular, are actually very well rewarded - consultants salaries start at around £85,000 and go up to more than £120,000 - if you add in private practice, they can easily top £250,000 pa. Trouble is, most of them were taking the piss, collecting an NHS salary, then bogging off to look after their "privates". The new consultants contract was brought in to try and stop that, with the result that they now have to fill in reams of paper work just to keep track of where they really are (and they still try and sneak off when they think no-one is looking)

Agree with you about all the others - particularly as I'm thinking of re-training myself, and would end up as one of their number.

Re: Order of importance of work

Let me get this straight, DA - did you just say something nice about people who work for the Government?

These are the most important people in society yes, despite the fact that they work for the government. It is not that simple hattra. It is utterly ridiculous that we pay lawyers so much more than teachers, nurses, doctors etc. Why do we do this? because they are controlled by the state. The state will not allow them to earn their market value, which compromises the quality of recruits as well as the motivation of the workers themselves. Head teachers (good ones) are the most important people in any community, yet we pay them peanuts.
OK wealth creators are technically more important, but instaed of trying to tax them out of business we should be encouraging more of them.

Re: Order of importance of work

1. teachers
2. social workers
3. Doctors
4. Nurses

Let me get this straight, DA - did you just say something nice about people who work for the Government?

Re: Order of importance of work

The problem is that there are enough people being encouraged to create wealth.

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Are you sure DA?

Re: Order of importance of work

And on what appendix of these lists do Agents appear on DA?

Order of importance of work

Wealth creation is the most important dynamic in society. The problem is that there are enough people being encouraged to create wealth.

Followed by:
1. teachers
2. social workers
3. Doctors
4. Nurses.
5. Accountants and businesses and people who make the above function more efficiently (and even contractors can be on this list ).

Off the list are blood sucking politicians, public sector administrators, private sector administrators with lawyers being the lowest of the low

What absolute twaddle expat :rollin

Its a fact that the rich of this country are funding the poorly educated, poorly skilled and the lazy :rollin

Makes sense to be able to unclude buy to let properties in as part of your pension plan.

Mailman

The working poor, usually.

This is a tax break for the rich funded by all taxpayers

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And who do think are the main tax payers in the first place :rolleyes

news.bbc.co.uk/1/hi/business/4618413.stm

Government plans to simplify pension rules will boost the wealth of the richest members of society by £2bn, research group Datamonitor claims.
The rules, due to be introduced in April 2006, will allow people to include buy-to-let investment property in their pension pot.

As a result, many investors will be in line to claim pension tax relief.

Datamonitor said the change would mean that top-bracket 40% income tax payers would get relief totalling £2bn a year.

This is a tax break for the rich funded by all taxpayers

Julian Crooks, Financial Planning Service

The planned pension reforms will affect the whole market, but Datamonitor said that the option to claim tax relief on a buy-to-let property would prove particularly attractive to the rich.

Prohibitive costs

Datamonitor estimated that the vast majority of people taking advantage of the pension shake-up will be earning more than £75,000 a year. [DP - I thought this was poverty wages? ]

The group said this was because the costs of setting up a self-invested personal pension, the necessary pension framework for claiming tax relief on buy-to-let property, were high.

"The government has underestimated the impact that the changes will make," said Oliver Guirdham, author of the Datamonitor report. "This constitutes a £2bn tax relief for Britain's wealthiest customers."

Julian Crooks, an independent financial adviser with the Sheffield-based Financial Planning Service, branded the buy-to-let tax break as a "retrograde step."

"This is a tax break for the rich funded by all taxpayers. The money would be better spent encouraging people on average incomes to save more for their retirement," Mr Crooks said.

Get em in there boys! Luverly Jubberly.