Author Topic: remember when unearned income was untaxed?  (Read 236 times)

Donkeyman

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remember when unearned income was untaxed?
« on: Feb 05, 2023, 10:08:08 AM »
When l were just a lad l remember that unearned income,ie. Investments
etc were completely untaxed ?
This was not so long ago really either ,while us poor sods  that had to
work had ten or fifteen bob  taken out of the measly twelve quid we
got paid for 50hrs work!
Ah, But they were good old days though!
I often wonder how the toffs got away with it ?From what l see now it
seems things are going back to those days , just look at the government
ministers fiddling their taxes , zero hrs jobs etc ?
Does anyone else remember those days?
Donkeyman,. 🙄🙄

Muddy

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Re: remember when unearned income was untaxed?
« Reply #1 on: Feb 05, 2023, 12:16:27 PM »
I thought that was only the Queen .
Who only started to pay tax on her vast income in 1993
No wonder they fabulously wealthy and the peasants are revolting .
It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt.

Mark Twain

Donkeyman

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Re: remember when unearned income was untaxed?
« Reply #2 on: Feb 05, 2023, 08:02:28 PM »
 Tax on unearned income became law in 1962  muddy, so not too long
 ago !
So it was probably a labour government  idea ,as the tories believe in the
starve  the peasants into working for peanuts while they "conserve"
their own wealth mantra ?
Explains why so many wealthy people live overseas now and why
HMRC is so lenient with them !
Donkeyman,. ☹️☹️