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Taxation of S&S

Investment discussion for beginners. Why you should invest your money, get help getting started
Urbandreamer
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Re: Taxation of S&S

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Postby Urbandreamer » March 23rd, 2018, 11:15 pm

GeoffF100 wrote:Money paid in taxes is not money wasted. It goes to the public good.


With respect, as PD says, that sort of comment would be best upon the tax board. I can't let it go though without pointing out that the "public good" that income tax was introduced to pay for was to kill people. (i.e. a war).

Then again, I'm no saint. I questioned taxation on inflation.

Possibly we should stick to taxation on shares as in the thread title, rather than the rights and wrongs of paying more or less tax or what "public good" it does.
Last edited by tjh290633 on March 24th, 2018, 2:33 pm, edited 1 time in total.
Reason: Tag corrected - TJH

Cookie
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Re: Taxation of S&S

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Postby Cookie » March 24th, 2018, 5:53 am

Yes, getting back to topic!

I remember dividends and CGT form the top slice of income, is there an order of taxation eg salary, savings, dividends, CG etc?

How do they fit in with each other and where do the allowances fit in?

It seems personal pension contributions can help in increasing your tax band for both income and capital gains

GeoffF100
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Re: Taxation of S&S

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Postby GeoffF100 » March 24th, 2018, 7:16 am

I thought that my comment about taxes being for the public good was a truism, particularly in the context of the millionaires here, rather than a point for debate, which would be off topic. Of course I recognise that some taxes are fairer than others, and some of the money raised is spent well and some is not.

Yes, there is an order for taxation, and you can opt to make some changes to it, but that is a topic for the tax board.


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