The Times They Are A Taxing?

Dominic Thomas
Oct 2025  •  3 min read

The Times They Are A Taxing?

Tax is one of those hot topics that can be fairly divisive along political lines. Few of us relish the idea of paying tax, but nearly everyone loathes the idea of our taxes being wasted on vanity projects or things that seem out of line with our values or needs.

I recently had the pleasure of seeing Nye, a production at the National Theatre about the Welsh Labour MP who was responsible for creating the NHS. Given how many doctors I have met and advised over the years and how committed they are to their work, I was surprised to learn how few doctors in the late 1940s were initially supportive of his plans. I am, probably like you, extremely grateful for the NHS and the treatment and care that I have had over the years. Of course it has many faults and flaws, but like all great things it is a work in progress.

Whilst the play, starring Michael Sheen, has now concluded its sell-out run, it is still available to watch on the excellent streaming service from the National Theatre (very good value at £100 a year).

You may remember the fabulous opening ceremony of the 2012 Olympic Games in London, created by Danny Boyle, a time when being English made me rather proud and flags were welcoming. There was a great segment honouring the NHS with giant beds and dancing doctors and nurses, a real celebration of one of our best institutions.

It took courage, passion and compromise to create the NHS – agreeing to make doctors the highest paid professionals, whilst retaining their independence and ability to work outside the NHS. It also took tax – at a time when Britain and the world was being rebuilt brick by brick, street by street. Rationing hadn’t even ended – not officially ending for another six years after the NHS was born (4 July 1954).

Today the NHS has approaching 1.4m members of staff with a budget approaching £200bn and serving 66 million of us. Most Americans (the sensible ones) recognise just how lucky we are to have our NHS, a medical problem in the US may well see your family bankrupted without sufficient private insurance.

Tax can be used extremely well and it’s clear that different nations have alternative views and approaches. It would seem that the majority of politicians have given up on trying to do difficult things, instead opting for pat answers and deferring decisions (or indecision). The NHS is regularly a political football and the media coverage that it often receives can only leave a discerning mind questioning the motives of billionaire media owners who live abroad (well maybe simply drawing obvious conclusions). In the pandemic we saw the incredible bravery of medics as they tackled an unknown virus without the right equipment, we clapped and thanked and then many forgot.

So I am hereby giving my heartfelt thanks to those of you who work within the NHS, as GPs, Junior Doctors, Consultants, nurses, psychologists, psychotherapists, OTs and managers (I hope I haven’t missed any of you out). Whether you are retired or still fighting the good fight, THANK YOU! My family, friends and I have all benefitted from your collective wisdom, care and the pursuit of good medicine and good science.

So let us remember that our taxes, as painful as they may sometimes be (and I would be the first to suggest that the tax system is desperately broken) are doing tremendous good, every minute of every day. The NHS should not be for sale.

References:

2012 Olympic Ceremony video: https://www.youtube.com/live/4As0e4de-rI?si=VwY32f_03psef0F0

Nye: National Theatre Trailer: https://nye.ntlive.com/trailer/

National Theatre at Home: https://www.ntathome.com/

The Times They Are A Taxing?2025-10-10T15:53:03+01:00

Eddie the Eagle

Eddie the Eagle

I wonder if you’ve come across the new film – Eddie the Eagle. You will probably remember the something about Eddie Edwards from Cheltenham who became the British ski jump representative in the 1988 Winter Olympics

You will recall that Eddie was something of a comic figure, who arguably couldn’t be anything other than British. He was self-funded, largely self-taught and started learning to ski jump relatively late in life. However, the indisputable “have a go” attitude won him numerous fans and despite being less than an underdog (there was no chance he could actually win) he holds a place in our memories. How many Olympic ski jumpers can you name? I dare say that Eddie the Eagle is one on a very short list… unless you are an avid skiing fan.

In fact Eddie was pretty good at skiing anyway – a decent downhill skiier – competing successfully, he missed out (the film suggests excluded) on the national squad based on aspects that were little to do with ability. He was certainly motivated and someone that deserves huge praise for his determination, a trait that seems in woefully short supply.

Soaring Success

Success then, might be considered differently. It is not simply about winning a gold medal or having an enormous house, yacht, car or looking a certain way to fit into certain clothes. Success is far broader and plainly ought to be determined by our own goals and values, not those of others.

Whatever you believe about wealth, and it seems many believe some fairly strange things, the reality is that wealth is also defined broadly. Financial planning is not about making you the richest person in your community, it is about helping you to identify those things that are actually of value to you, invariably these have little to do with money, but rather more to do with relationship, values and legacy.

Unlike Eddie, your financial planning will probably not be televised, but like him, you can achieve some pretty impressive personal goals – but inevitably there will be some risks, some resistance, perhaps some detractors and plenty of distraction.

As for the movie, to be honest it took ages to get going, and it was painful viewing at times, but in the end it turned out to be an uplifting, warm-hearted story, albeit with some artistic license. The reminder that you should never allow others to determine what you are capable of.

Here’s the trailer for the movie.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk

Eddie the Eagle2025-01-27T16:09:19+00:00
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