i say text the hell out of you rich *******s about time you help out in the world seen as its your greed which has put us in this state ha ha ha ha ha i love it i hope you all burn in hell fuelled by your own money

 

If you are salaried then you have no choice but to pay 40/50% tax

Perhaps its the loopholes for the SE and Ltd company directors that you are clearly well aware of that should be addressed.

Tax evasion costs a lot more than tax fraud.

 

Have you heard of full stops? That post is gibberish

 

Based on what? Their last run as government?

If so, we really are ****ed!

 

You can invest the money you should be paying to the tax man into areas that are tax free and get it back after a certain time period. How much you can actually invest is complex and how much of the 40 percent bracket of your tax you can invest is also complex but it can be done by the right people. I thought that you could only do this if you were self employed but a friend of mine who owns a tax planning, accountantcy and Financial advice firm says he can do it for salaried employees as well. YOu have to earn a minimum 65k for it to be finacially beneficial but for those on that money and up it would be silly not to do somthing to get your tax back.

 

I tried 3 times to read it and all I managed was a headache. Any luck your side?

 

How will TEXTING rich people help the economy? Is this another New Labour masterplan????????

 

As I thought not something you actually know about first hand. The sorts of things you can invest in are venture capital trusts ie HIGH RISK. You would probably lose all your money, better to pay the tax man his 40% then be left with nothing. This is why most people don't do it

 

sorry rich boys i didnt go to a private school. i ment tax the hell out of you and i hope they tax you lot more i hate rich people your all fake and dont give a monkeys for any normal poeple, I hope you loose every thing and come back to the real world end of and here are some full stops .................................................. ....

 

Yeah! Tax the rich ****ers! Hoorah!

 

I have deals with some IFA's I know as an introducer so I know a bit more than I am going to let on here as the structure of the scheme they use is not that well known and they don't want it to be. The risk is minimal due to how the deals a structured and it is not in anyway high risk VC. I would just let you speak to them yourself but as currently they are not offering any introducer comission on this I won't yet. The risk is almost irrelvant anyway as you are mostly risking money that goes to the taxman anyway. It has all been checked with the revenue and is protected against retrospective rule changes as well before you throw that in.

 

well said that man

 

Edited for accuracy

 

Sorry if my last post was a bit rude, you obviously know more about this than me. On the whole though most salaried people I know who earn £100k + just pay their tax without such schemes.

 

No, he probably got 12 A stars under the New Labour qualifications system that has not been dumbed down

 

sorry **** bandit i was at school when maggie was in and she even stole the milk i.e the milk snacther, that why my schooling was not that good becuase they did nothing for the uk apart from f*ck it up any bum boys private school weaners im off this is now borring id love to punch you all in the head maybe one day were meet and we can HAVE A MANS CONVERSATION

 

Bye.

 

Not very happy, are you happydude?

 

You seem obsessed by mens ***** and bums. Maybe by 'a man's conversation' you mean a gay man's conversation?

 

To be fair, he didn't say "innit"

 

Maybe bitterdude would be a more apt name, if you'd actually tried at school you'd be earning the money that you are plainly jealous of.

Anyway back on topic.

Many commentators agree that a 50% tax rate actually decreases revenues. When Lamont reduced it to 40% in the late 80's, from a dizzy 60%, tax revenues actually went up.

IMO Labour's great mistake was believeing that boom and bust was eradicated.

 

Lots of people in Africa live on £600 a year. By that rational all earnings in the UK should go to africa so that their 'hurt' is equal to ours.

I suppose this is a fundamental philosophy issue. Socialists believe that the rich should work to subsidise the poor as that is equitable. I understand the idea behind this and it is honourable, but why does the philosophy stop at the border. Britain is rich, africa is poor. Socialism would dictate that britain should distribute its wealth evenly amongst the poor in the world to be equitable, however I never hear this idea touted by the 'working class'.

My philosophy is simple, if you earn your money you should be entitled to keep it, I would argue that the stress/workload/responsibilty of a £60k job is far greater than a £6k job.

Incidentally, minimum wage is £5.73/hr on 38 hours a week is £217.74 a week, which is £11,322 a year gross and £9.6k a year after tax. So nobody in legal employment on 38 hours a week is earning £6k.

 

Also is there a cut off on employers NI contributions or do they just carry on at 12.8% as income rises? Employers NI contributions are income tax by stealth. Even basic rate tax payers are paying 22% income tax, 11%NI and the company pays 12.8%NI for employing them (if they did not employ you the company would not pay it hence it is income tax paid by the company for giving you your salary) So basic rate is actually 45% but its so complicated and no one sees the 12.8% that its sewpt under the carpet and we are all none the wiser.

 

I understand what you are saying there but i,m not sure thats quite correct -
symantics maybe

anyway I wonder how many people are on a PAYE salary of 150k --- i suspect very very few

 

You should come over to Germany then, I a single white male (not being racist in that remark it just happens to be true) and I am therefore in the highest tax class by default, Class 1.

I therefore pay 42% income tax, this is not tiered it is 42% tax on every euro of my salary

I do not get tax relief on anything becasue I can apparently afford to pay for the bumms who don't want to work. Lovely socialist country.

We also do not have a NHS so I have to have:

Private medical insurance.
Loss of job insurance
Public liability insurance
Going into a nursing home insurance.
Reunification of Germany tax.

And all this is deducted from my salary at source resulting in 49% deductions every month, And I do not earn very much to start with.

So stop moaaning about your tiered 40% tax bracket, and think howe much worse it could be.

 

If Income Tax had gone down at the very start of the recession we wouldn't be in this mess so deeply.
Increasing Income Tax is like closing the gate when the horse has already bolted and living on benefits in a free stable down the road.
The majority of the high earners will get round the increased tax bracket anyhow, the actually amount of money that it will generate wouldn't pay for furnishings in a second home in Chelsea.

 

Well said. I think tax rates in Holland are even higher!

 

Wurzel, are other taxes lower? ie vat, council tax, fuel duty etc

 

Edited : I think the income tax hike is just the tip of the iceburg - the government is desperate to try a recoup funds given the borrowing levels they are facing.

(Although the cynic in me suggest that NL has no intention of paying back any of their huge borrowings, as they have no intention of winning the next election when they do eventually call it - what incentive is there? When they can just walk away and let some other party deal with the mess).