Reply to post: Reduce taxes

HMRC opens consultation to crack down on off-payroll working in private sector

LucreLout

Reduce taxes

If taxes were lower, people wouldn't avoid them. The laffer curve in action. Since we're at the peak already, either the government learn to live within their means and existing income, or the only option is to reduce taxes (and so spending) to try to stimulate the economy to grow. Taking more tax at this position on the curve is counter productive.

I already avoid income taxes, not by being a contractor, but by taking a pay cut and reducing my hours. I dropped between 10 - 20 hours a week, but only lost 1/8th of the money in my pocket. I'm just not willing to work more for the government to take half of everything I earn - why should I? If I'm going to put in 100% of the effort, why would I want just 50% of the gains? (Its less when you consider the impact of TFE withdrawal making the effective tax rate as high as 65%).

If I'm going to start working any further hours then it'll have to be as a contractor to reduce my tax payments. No matter which party gets elected, I'm not paying any more than I already am. Sorry.

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