Autumn Statement

[Busaholic]

Who on Earth earns £125k+ anyway?

Apart from the obvious higher profile types, I guess plenty of top lawyers, bankers, medical professionals are within this range.

Plenty of GPs can earn over that amount too, with all the 'extras' added on for form filling for bodies like DWP, DVLA, etc. Many choose to work part time anyway, or fill 'locum' positions at very high rates of pay.

 

[uglymonkey]

What percentage of the working population earns over £125,000 anyway, surely tinkering with the 40% at this level can't bring in that much extra tax. Can it?

 

[DelayRepay]

What percentage of the working population earns over £125,000 anyway, surely tinkering with the 40% at this level can't bring in that much extra tax. Can it?

Not quite what you're asking, but:

There were only 3 million higher rate taxpayers in 2009, today there are more than double this. There were only 236,000 taxpayers who paid the top tax rate on earnings over £150,000 in 2010, now there’s 629,000.

From this article (paywalled, I'm afraid)

Are you wealthy if you earn £100k? I’m not so sure . . .

When I was 16 I started playing in the men’s teams at my hockey club. A guy called Andy took me under his wing and every other week I would travel to away games

www.thetimes.co.uk

So I would suggest that there are enough earning over £125k to make it worthwhile. Remember it's not just salary - bonuses can make a difference in some industries and people's income includes second incomes e.g. if they own a rental property.

 

[yorksrob]

That's over half a million out of sixty million. Still wealthy though.

 

[oldman]

What percentage of the working population earns over £125,000 anyway, surely tinkering with the 40% at this level can't bring in that much extra tax. Can it?

The Treasury thinks it brings in about £420 million next year, rising each year the threshold stays frozen.

 

[Nicholas Lewis]

£2bn cut to DfT budget reported which presumably confirms the May timetable cuts will go ahead.

budgets have been maintained as per March 22 budget levels the bigger issue is departments have to absorb inflationary impacts although given they haven't agreed a pay rise across most of industry that's not currently a lot but they will hold a provision for the 2-4% figure bandied about which is why anything more means savings having to be sought elsewhere.

They're making super-profits from luck and the government is having to bail-out the customers they fleece. Seems fair to me.

They would be better off changing the system and stop marginal cost pricing driving up the price renewable receive. This approach is messy and will encourage financial engineering by the companies to minimise there tax charges.