HENRY Guide

Providing information and tools for England based HENRYs.

[HENRY Guide @HENRYGuideUK]

@BobFromAccounts Why not take up less space on the roads by utilising more car-clubs?

[HENRY Guide @HENRYGuideUK]

Why does the government not just pay for nurseries?
It would enable parents to work full-time without worrying about such costs. Enabling the government to collect their income tax.
It would also lower the UK's birth-rate decline, an often cited reason being the costs of raising a child.
If we want to keep our pensions going, we need new workers. They can either be born here, or imported in.

[HENRY Guide @HENRYGuideUK]

The UK has an ageing population. One of the reasons cited for the decline in birth rates is the price to raise a child.
The government needs new young people to pay into pension pots to support those withdrawing their pensions, otherwise you're going to end up with a crisis.
The options are either to import more workers or to make it more desirable for those already in the UK to have more children. One of those ways is to make nurseries more affordable.

[HENRY Guide @HENRYGuideUK]

Which tax would you most like to have seen keep pace with inflation?

[MoneyWeek @MoneyWeek]

(1/2) Certain tax allowances would be almost four times higher if they had kept pace with inflation. We reveal the tax thresholds that have been frozen the longest.

Source: https://t.co/MLvFbjUuLj, Bank of England

#inflation #tax #money #savings #incometax #inheritancetax

[HENRY Guide @HENRYGuideUK]

Our nursery calculator now allows two peoples salary - https://t.co/gRMk19m5CN

[HENRY Guide @HENRYGuideUK]

@londonHenryGB Why would we not want our councils to be run by competent people on a salary matching their skills?

[HENRY Guide @HENRYGuideUK]

@sanguine61981 @jzrdan Of course, it only really pushes the cliff up a few thousand pounds.

[HENRY Guide @HENRYGuideUK]

@BladeoftheS French pensioners now earn more than workers.
How long will that be sustainable for?

https://t.co/Z3TirEceDm

[HENRY Guide @HENRYGuideUK]

@sanguine61981 @jzrdan There can be ways around this - https://t.co/gRMk19m5CN

[HENRY Guide @HENRYGuideUK]

@Telegraph Even if you work around this with sal-sac into pensions, that's a lot of income tax that the government is deferring decades into the future. Why would they not want to capture it now?

[HENRY Guide @HENRYGuideUK]

It only takes 18 years of £60k contributions even at a 0% growth rate to get you a pot of over £1,073,100.

[Charles Archer @that_stocks_guy]

'Just put £60k into your pension every year to avoid the tax trap above £100k - hang on, why are our most productive taxpayers taking early retirement in their 50s??!!?!?!'

[HENRY Guide @HENRYGuideUK]

Next tax year only £12,000 of the £20,000 ISA allowance can sit in Cash ISAs, with the remaining £8,000 reserved for Stocks & Shares ISAs.

[HENRY Guide @HENRYGuideUK]

Next tax year there will be separate savings/property tax bands.
The new savings and property income bands introduce 2 percentage point increases across basic, higher, and additional rates.

[HENRY Guide @HENRYGuideUK]

How can one reduce Income, Taxable Income and Adjusted Net Income?

https://t.co/bLGyNA96LC

[HENRY Guide @HENRYGuideUK]

@Rob_Powell15 @GMB Fiscal drag will affect more and more parents of nursery age children over the next few years and all of that money that the government were hoping that they would be getting in income tax will instead be diverted into pensions in order to retain the free childcare hours.

[HENRY Guide @HENRYGuideUK]

Basic-rate dividends are now taxed at 10.5% and higher-rate dividends at 35%.

[HENRY Guide @HENRYGuideUK]

VCT tax relief is now 20%

[HENRY Guide @HENRYGuideUK]

Happy New (Tax) Year 🥳

[HENRY Guide @HENRYGuideUK]

How much extra spending money would you have if you reduced your Adjusted Net Income under £100k in order to benefit from Tax-Free Childcare and 30 funded hours?

https://t.co/gRMk19m5CN

[HENRY Guide @HENRYGuideUK]

Is it more beneficial for you to use your funded hours over 38 weeks or spread them over the whole year?

https://t.co/wC4OQy198P