The Week: Rubbish
In the world of law it’s not been too bad. Less redundancies than we are used to and a fair few promotions for those associates that still have jobs. But lets be honest here, it’s been a shocker really. For all the had working folk out there, life is just going to get tougher. Although politics generally takes a back seat here at Solicitr, in a week that is going to affect us all so greatly for years to come, we couldn’t …
In the world of law it’s not been too bad. Less redundancies than we are used to and a fair few promotions for those associates that still have jobs. But lets be honest here, it’s been a shocker really. For all the had working folk out there, life is just going to get tougher. Although politics generally takes a back seat here at Solicitr, in a week that is going to affect us all so greatly for years to come, we couldn’t help concluding one thing in particular. Our cabinet ministers (a number of whom have had fine legal minds) seem to have been swapped for a team of deluded nutters. It like that scene from One Flew Over the Cuckoos Nest when Jack Nicholson’s character takes the asylum on a boat trip – we’ve left the safety of the harbour and no one present seems in touch with reality anymore.
Of course we are referring to the budget here. So what about the new top rate of tax, popular in the country but popular with lawyers? Not every lawyer is in line to eventually reach the haven of six figure salaries but for those that are, the question really is whether it’s going to be worth it? The last decade has been a corker for high-earners but the next one looks pretty miserable. Whatever your politics, working your fingers to the bone to see more than half your earnings disappear is going to be brutal. Hopefully though lawyers and accountants will get along better than these two and someone other than the Revenue can benefit from this.
So as our politicians argue over how to rearrange the deck chairs on this rusty old bucket, we thought we’d set sail on an raft made from old pin-stiped suits and empty bottles of Moet for somewhere needless of astronomic gas bills and where the trade winds blow warm. Which way’s Bermuda?Â
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April 24, 2009
i will never earn 6 figures in the provinces but taxing those that do over half their income is pointless, envious and unlikley to solve anything
April 24, 2009
the pips are growling about this
April 24, 2009
socialist, populist bo&&ocks
April 24, 2009
Don’t think I need to actually say anything about this.
April 24, 2009
It’s shocking but not surprising.
April 24, 2009
I feel like I am trapped in a stage between being asleep and awake with no escape.
April 24, 2009
6 – if you were not out last night and are not just a bit hungover, then I suggest you get help.
April 24, 2009
It’s not just income tax – they are making petrol, booze and cigarettes more expensive too. I’m genuinely thinking I might have to go back to one car. I’m seething.
April 24, 2009
They are not taking half the income. They are taking half over £150k. Seems meet and just to me. As far as lawyers are concerned, this only affects those at the top of the stack, and they have been creaming it off for years – taxing by more than 50% the efforts of all those below.
April 27, 2009
Good words.
April 27, 2009
This is great info to know.
April 27, 2009
With a top rate of tax at 50%, earnings over £150k will be reduced by more than 50% once you account for NI contributions etc (approx 64%). Lets not forget that thos people also lose all their allownces. Daylight robbery.
April 27, 2009
However the actual figures break down once you’ve done the maths, who cares. Seems just to me, the highest earning lawyers are fair game.
April 27, 2009
Once you factor in the all the other taxes cigs, booze etc, everyone is likley to see more than half their income disappear in tax. Despite this attempt to tax the rich more they are the ones best place to avoid it, especially lawyers and accountants.