10 Sep
6:59pm, 10 Sep 2024
22,995 posts
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rf_fozzy
Thanks Um, good try, but.... 1. Not married (not sure this is going to help most people unless you have one higher rate, one lower rate or non tax payer) 2. As stated already have an ISA and in general, I won't use the full allowance - again most people don't have a spare £20k per year 3/4. I've used salary sacrifice once before - useful, but only if what you are buying is included in the schemes. Bikes for example that I have wanted are always too expensive (£1k limit - can't go over), and I don't need another bike...yet... The other issue is that on fixed term contracts, the sacrifice has to be short enough to fit into the contract... 5. Not seen this before. Might be useful if I'm eligible - most "green" grants have been for UC claimants only. 6/7. Not sure this helps? I have to spend more to use this and I don't get the cash, the charity does... 8. No longer applicable to most people's they changed the scheme after loads of people claimed during COVID. I did claim for that before. And as you say would need accountant to do the dodgy be a company loophole. |
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10 Sep
7:06pm, 10 Sep 2024
22,996 posts
|
rf_fozzy
Ok looked at the windows link, it's part of the ECO4/+ schemes in England. Need to be a low income UC claimant. I am not currently. When I'm made redundant I might be eligible... |
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10 Sep
7:09pm, 10 Sep 2024
22,997 posts
|
rf_fozzy
All of which goes to my earlier point - most normal people don't have access to the loopholes. Close those loopholes and you would make the wealthier pay more tax- those who pay accountants to minimise tax. (The downside is that you'd have a short to medium term increase in JSA claimants as you put accountants out of work...) |
10 Sep
7:10pm, 10 Sep 2024
25,545 posts
|
larkim
The tax relief claim for charities doesn't have to go to the charity. Under gift aid it does, but if you make the claim for relief on your self assessment form it would come back to you. And if you are a higher rate tax paying you could claim more.
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10 Sep
7:14pm, 10 Sep 2024
4,484 posts
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Cheg
The rich do have to pay for the things through their ‘schemes’ as well. They get reliefs after they’ve spent something. It’s meant to change behaviour. Encourage pension provision, encourage investment etc.
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10 Sep
7:23pm, 10 Sep 2024
11,613 posts
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Fields
As JC said today, what’s next for means testing? The NHS. No doubt you liberals will find a way to defend that. |
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10 Sep
7:23pm, 10 Sep 2024
22,998 posts
|
rf_fozzy
larkim wrote: The tax relief claim for charities doesn't have to go to the charity. Under gift aid it does, but if you make the claim for relief on your self assessment form it would come back to you. And if you are a higher rate tax paying you could claim more. What tax return? Again most people are PAYE! I have no direct interaction with HMRC at all. These are things that most people don't do. |
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10 Sep
7:23pm, 10 Sep 2024
22,999 posts
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rf_fozzy
Cheg wrote: The rich do have to pay for the things through their ‘schemes’ as well. They get reliefs after they’ve spent something. It’s meant to change behaviour. Encourage pension provision, encourage investment etc. So loopholes then. Most people cannot use these. Get rid. |
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10 Sep
7:27pm, 10 Sep 2024
23,000 posts
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rf_fozzy
Things like VED for lower emissions vehicles (scrapped by Tories if memory recalls for a flat rate) are fine - because everyone can easily take advantage without hiring an (expensive) accountant. If you're telling me to register as a business and claim my mileage as a business allowance and tax relief on the air freshener and winter tyres on the advice of the expensive accountant I now need to minimise my tax, then these are loopholes that most people cannot use. |
10 Sep
7:29pm, 10 Sep 2024
21,820 posts
|
Cerrertonia
rf_fozzy wrote: 12 million people fill out a self assessment form each year. It's not most people, but it's not a small number of people either.
These are things that most people don't do. |
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