40% Tax On My Army Pension

#1
Well my faith in this Labour Goverment has reached an all time low.

Got a nice letter from the Tax man stating I will now have to pay 40% on my Army Pension as it is a second income (a S/Sgt’s pension, it certainly isn’t a lot of money, even less now) .

Ah well Mr Darling all I can say is thank fu*k I have a good job, I really love this country..........Wah

Magic
 

The_Duke

LE
Moderator
#2
The_Magician said:
Well my faith in this Labour Goverment has reached an all time low.

Got a nice letter from the Tax man stating I will now have to pay 40% on my Army Pension as it is a second income (a S/Sgt’s pension, it certainly isn’t a lot of money, even less now) .

Ah well Mr Darling all I can say is thanks fu*k I have a good job, I really love this country..........Wah

Magic
So you earn over the maximum income tax threshold, but expect to be exempt higher rate tax for some of your earnings solely on the grounds that it is a military pension.

Should everyone else who is a high earner but getting pension payments from another job have the same rights, or is it just because of the military aspect?
 
#3
The_Duke said:
The_Magician said:
Well my faith in this Labour Goverment has reached an all time low.

Got a nice letter from the Tax man stating I will now have to pay 40% on my Army Pension as it is a second income (a S/Sgt’s pension, it certainly isn’t a lot of money, even less now) .

Ah well Mr Darling all I can say is thanks fu*k I have a good job, I really love this country..........Wah

Magic
So you earn over the maximum income tax threshold, but expect to be exempt higher rate tax for some of your earnings solely on the grounds that it is a military pension.

Should everyone else who is a high earner but getting pension payments from another job have the same rights, or is it just because of the military aspect?

Yeah I do cause me special (Needs)

Magic
 

BuggerAll

LE
Kit Reviewer
Book Reviewer
#4
You will only have to pay 40% tax if your total earnings are over the threshold. At the end of the year if you have paid to much you will get it back.

That said what sort of incentive to work is it if 40% of what you earn is taken away from you so that that idiot Brown and his cronies can waste it buying votes for themselves?
 
#5
The_Duke said:
The_Magician said:
Well my faith in this Labour Goverment has reached an all time low.

Got a nice letter from the Tax man stating I will now have to pay 40% on my Army Pension as it is a second income (a S/Sgt’s pension, it certainly isn’t a lot of money, even less now) .

Ah well Mr Darling all I can say is thanks fu*k I have a good job, I really love this country..........Wah

Magic
So you earn over the maximum income tax threshold, but expect to be exempt higher rate tax for some of your earnings solely on the grounds that it is a military pension.

Should everyone else who is a high earner but getting pension payments from another job have the same rights, or is it just because of the military aspect?
I don't necessarily agree or disagree with the way things are set up, buy paying a higher rate of tax because you earn over a certain amount seems quite unfair. And more than a little hypocritical from a party who pride themselves on 'equality' and 'fairness'.
 
#6
BuggerAll said:
You will only have to pay 40% tax if your total earnings are over the threshold. At the end of the year if you have paid to much you will get it back.

That said what sort of incentive to work is it if 40% of what you earn is taken away from you so that that idiot Brown and his cronies can waste it buying votes for themselves?
BA

That is my point I have worked hard to get the Job I have at present but I also worked hard whilst serving, should look at an Off Shore Account!!!!!!

As you say where is the incentive to work hard as the more money you sometimes the worse off you can be.

Magic
 
#7
The_Magician said:
Well my faith in this Labour Goverment has reached an all time low.

Got a nice letter from the Tax man stating I will now have to pay 40% on my Army Pension as it is a second income (a S/Sgt’s pension, it certainly isn’t a lot of money, even less now) .

Ah well Mr Darling all I can say is thank fu*k I have a good job, I really love this country..........Wah

Magic
Of course if you didn't you wouldn't have to pay 40%
 
#8
Temple said:
The_Magician said:
Well my faith in this Labour Goverment has reached an all time low.

Got a nice letter from the Tax man stating I will now have to pay 40% on my Army Pension as it is a second income (a S/Sgt’s pension, it certainly isn’t a lot of money, even less now) .

Ah well Mr Darling all I can say is thank fu*k I have a good job, I really love this country..........Wah

Magic
Of course if you didn't you wouldn't have to pay 40%
Ah, Temples words of Wisdom



Cheer Ears



Magic
 
#9
You can borrow my place in Belize if you want to "magic"
You just have to suck it i am afraid, the price of democracy !! i get hammered the same on warrant orrficers pension, have a word with his lordship and get a few tips :?
 

The_Duke

LE
Moderator
#10
The_Magician said:
BuggerAll said:
You will only have to pay 40% tax if your total earnings are over the threshold. At the end of the year if you have paid to much you will get it back.

That said what sort of incentive to work is it if 40% of what you earn is taken away from you so that that idiot Brown and his cronies can waste it buying votes for themselves?
BA

That is my point I have worked hard to get the Job I have at present but I also worked hard whilst serving, should look at an Off Shore Account!!!!!!

As you say where is the incentive to work hard as the more money you sometimes the worse off you can be.

Magic
Oh yes, keeping hold of the 60% that remains is just not worth it, is it? :?
 
#11
The_Duke said:
The_Magician said:
BuggerAll said:
You will only have to pay 40% tax if your total earnings are over the threshold. At the end of the year if you have paid to much you will get it back.

That said what sort of incentive to work is it if 40% of what you earn is taken away from you so that that idiot Brown and his cronies can waste it buying votes for themselves?
BA

That is my point I have worked hard to get the Job I have at present but I also worked hard whilst serving, should look at an Off Shore Account!!!!!!

As you say where is the incentive to work hard as the more money you sometimes the worse off you can be.

Magic
Oh yes, keeping hold of the 60% that remains is just not worth it, is it? :?
It's not the point. The point is, he's being penalised - in the form of having to give away a higher percentage of his wages - for working hard and being successful.

If all wages were taxed at a flat rate then there'd be no issue.
 
#12
Because this is a new thing of course introduced in the last couple of weeks

It rained this morning quick blame the government

Some people would love to earn enough to be able to pay 40% tax on SOME of their income
 
#13
Ah but then you get v.a.t. on purchases, airport tax when you want to spend some time enjoying your hard earned, toll charges on bridges and the M6 m/way,etc etc,your 60% is whittled away. i sent the revenue a "mock up " invoice for all of the manhours spent doing their job for them on returns, not a lot of joy in the response received.
 
#14
CAARPS said:
Because this is a new thing of course introduced in the last couple of weeks

It rained this morning quick blame the government

Some people would love to earn enough to be able to pay 40% tax on SOME of their income
They can, its easy mate, you get two jobs, the missus gets two jobs, bingo.
bear in mind that most of what darling takes from you will go to idle gits ,watching sky, drinking lager and laughing, but hey screw them you can enjoy what free time you have :D
 
#15
I think you'll find the thieving, one eyed jock takes 11 % National Insurance as well, thereby removing 51% of your pay above a certain limit (£38000?) I certainly only do overtime for time off in lieu as it just is not worth doing it for money
 
#16
DeltaDog said:
The_Duke said:
The_Magician said:
BuggerAll said:
You will only have to pay 40% tax if your total earnings are over the threshold. At the end of the year if you have paid to much you will get it back.

That said what sort of incentive to work is it if 40% of what you earn is taken away from you so that that idiot Brown and his cronies can waste it buying votes for themselves?
BA

That is my point I have worked hard to get the Job I have at present but I also worked hard whilst serving, should look at an Off Shore Account!!!!!!

As you say where is the incentive to work hard as the more money you sometimes the worse off you can be.

Magic
Oh yes, keeping hold of the 60% that remains is just not worth it, is it? :?
It's not the point. The point is, he's being penalised - in the form of having to give away a higher percentage of his wages - for working hard and being successful.

If all wages were taxed at a flat rate then there'd be no issue.
Then if all wages were taxed at a flat level, generally people would pay more tax anyway, because rates would have to go up.

Much better that you pay a lower level when you first begin working, and then pay a higher level as you start earning more.
 
#17
CAARPS said:
Because this is a new thing of course introduced in the last couple of weeks

It rained this morning quick blame the government

Some people would love to earn enough to be able to pay 40% tax on SOME of their income
It may have escaped your notice, but the Government doesn't control the rain. They do however control how much tax you pay. And this isn't in CA - it's in finance.

Your argument is devoid of logic, back-to-front and weak. If the Government proposed cutting off the left leg of every rich man in the country, it could read "some people would love to earn enough to have a limb removed".

The point is - why is it not enough that the overall amount paid by a successful person is higher than that of an unsuccessful one? Why should they be forced to hand over a bigger slice?
 
#18
revmodes said:
They can, its easy mate, you get two jobs, the missus gets two jobs, bingo.
bear in mind that most of what darling takes from you will go to idle gits ,watching sky, drinking lager and laughing, but hey screw them you can enjoy what free time you have :D
Funny old thing this morning I am sitting here being an idle git watching sky ( and playing on the tinternet), feeling very ill from drinking too much lager (and wine and port) last night and laughing because the tax payer is paying me to do so :D :D
 
#20
You are lucky. The Bastards failed to tax mine at 40% despite me telling them to. They failed to do it 2 years running!!!! Imagine my joy when I got a bill for nearly £6k.. Like an Arrse I forgot to check the rate that I was getting and did not realise the mistake until it was too late. It will teach me to look at my bank statement more closely and to open the pay slips from ExChanging.

Treat this as a cautionary tale chaps as i am sure that I am not the only one.
 
Thread starter Similar threads Forum Replies Date
D Finance, Property, Law 17
Conductor RLC 111
E Armed Forces Pension Scheme 2

Similar threads

New Posts

Latest Threads

Top