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General => General discussion => Topic started by: JC on 20 March 2012, 22:35
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time to get lubed up and get ready to receive :rolleyes:
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(http://www.marketingweek.co.uk/Pictures/web/g/u/o/MarmiteVaselin_456.jpg)
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I smoke and drink so always expect to get hit!
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If you earn over 150k a year, you'll get a tax cut.
Sadly i only earn a fraction of that :cry:
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tax cut if you earn over 150k? :huh: surely they should be tax hike?
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tax cut if you earn over 150k? :huh: surely they should be tax hike?
Cant fault it Jay, reduce their Tax, and they'll spend more, invest more, and be encouraged to make even more money in business... bringing down unemployment hopefully
Tax them more, and they'll not bother!
Thom
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tax cut if you earn over 150k? :huh: surely they should be tax hike?
Cant fault it Jay, reduce their Tax, and they'll spend more, invest more, and be encouraged to make even more money in business... bringing down unemployment hopefully
Tax them more, and they'll not bother!
Thom
Have to agree... (to a certain extent) why should you pay more towards those that do less. If tha tax system was reversed so that you pay less tax the more you earn, it may just change the way people approach work.
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I'm interested in the decision on Jersey.
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tax cut if you earn over 150k? :huh: surely they should be tax hike?
Cant fault it Jay, reduce their Tax, and they'll spend more, invest more, and be encouraged to make even more money in business... bringing down unemployment hopefully
Tax them more, and they'll not bother!
Thom
In theory yes, but it didn't work in the 1980's.
The problem with tax is no one wants to pay it, if you don't earn much then you think why should you pay so much, the same if you do better in life and earn a load more.
The problem at the moment is, most ordinary families are struggling, so cutting taxes for the well off is likely to prove unpopular.
Plus if we reduce taxes for the well off, the money will have to made up elsewhere, and that will be us!
If ordinary people are taxed more then they also spend less so we kind of get the same situation.
In my opinion, rather than cut top rate tax, we should reduce VAT, cut fuel tax duty, and do more to make the banks lend to small businesses.
Now that would be pro business.
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tax cut if you earn over 150k? :huh: surely they should be tax hike?
Cant fault it Jay, reduce their Tax, and they'll spend more, invest more, and be encouraged to make even more money in business... bringing down unemployment hopefully
Tax them more, and they'll not bother!
Thom
Have to agree... (to a certain extent) why should you pay more towards those that do less. If tha tax system was reversed so that you pay less tax the more you earn, it may just change the way people approach work.
This isn't the case really. Just because someone earns less than the next person, it doesn't mean they don't work as hard.
The system needs to encourage investment, but also be fair.
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I'm interested in the decision on Jersey.
You and me both!
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We will be right royaly bent over by the budget as per usual :cry: they will pretend to cut tax while actually putting it up even more somewhere else. Until we have revolution we are stuck with this system for ever :sick:
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tax cut if you earn over 150k? :huh: surely they should be tax hike?
Cant fault it Jay, reduce their Tax, and they'll spend more, invest more, and be encouraged to make even more money in business... bringing down unemployment hopefully
Tax them more, and they'll not bother!
Thom
Yup. I seem to recall that every major study into tax and economics finds that a low tax economy brings in a higher rate of total tax than a high rate.
iirc its about a rate of 26 %.
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tax cut if you earn over 150k? :huh: surely they should be tax hike?
Cant fault it Jay, reduce their Tax, and they'll spend more, invest more, and be encouraged to make even more money in business... bringing down unemployment hopefully
Tax them more, and they'll not bother!
Thom
Have to agree... (to a certain extent) why should you pay more towards those that do less. If tha tax system was reversed so that you pay less tax the more you earn, it may just change the way people approach work.
This isn't the case really. Just because someone earns less than the next person, it doesn't mean they don't work as hard.
The system needs to encourage investment, but also be fair.
I say work smarter not harder... :smiley:
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tax cut if you earn over 150k? :huh: surely they should be tax hike?
Cant fault it Jay, reduce their Tax, and they'll spend more, invest more, and be encouraged to make even more money in business... bringing down unemployment hopefully
Tax them more, and they'll not bother!
Thom
Yup. I seem to recall that every major study into tax and economics finds that a low tax economy brings in a higher rate of total tax than a high rate.
iirc its about a rate of 26 %.
Probably not the case if tax avoidance was stopped :lipsrsealed:
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I'm interested in the decision on Jersey.
You and me both!
Uh Oh Jersey Wherry.
http://www.dailymail.co.uk/news/article-2117961/Closure-Channel-Islands-VAT-loophole-force-DVD-prices.html
:lipsrsealed:
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You can't "stop" tax avoidance because its not illegal.
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You can't "stop" tax avoidance because its not illegal.
The point being it should be illegal :cool: stop expecting the man street to keep paying more when a lot of the rich are avoiding every little bit they can.
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You can't "stop" tax avoidance because its not illegal.
This only gets talked about election time :grin:
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Nope. Without going into too much detail our business will be exploring routes of holding stock in Europe, which then essentially benefits us due to the limit being back to the full 22 euros (£18).
This won't benefit the "man on the street". It's been proven high street prices are too high, so by pulling the channel islands in line with the uk it will just kill off a lot of consumer spending.
Not to mention also now the inevitable job losses in Jersey now due to major players bailing out.
This action won't have benefitted anybody and I highly doubt the minimal extra raised from the newfound tax money will make a dent anywhere.
They'd be better off going back to old car tax rules and charging these Eco cars which don't pay anything road tax. They use the roads FFS.
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Ouch! 37p on cigarettes....... Glad i don't smoke! :sick:
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there will be over 2000 job losses here, for anyone that i've met or has been to the Channel Islands you will already know that it is more expensive here then in the UK!
http://www.bbc.co.uk/news/world-europe-jersey-17401463
It sucks, sucks balls!
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Chancellor says he's reducing the tax on video games. Call off Duty?
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Chancellor says he's reducing the tax on video games. Call off Duty?
:grin:
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You can't "stop" tax avoidance because its not illegal.
The point being it should be illegal :cool: stop expecting the man street to keep paying more when a lot of the rich are avoiding every little bit they can.
Well that's a well thought out statement.
If you give anybody several options to pay tax, they will all (you will all) take the route that pays least tax and puts more money into your pocket. FACT!
Example.
I can - as a company owner - chose to either:
1. Pay myself a full salary - On which I pay NI and Tax and the company pays NI.
2. Pay myself up to the Tax free allowance and take an annual dividend on my shares to make up my salary.
Both are perfectly legal, yet option 2 pays much less in tax to the Treasury and puts more money into my pocket.
I chose option 2, which is tax avoidance.
What a silly boy I am for doing that.
:rolleyes:
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Well that's a well thought out statement.
If you give anybody several options to pay tax, they will all (you will all) take the route that pays least tax and puts more money into your pocket. FACT!
Example.
I can - as a company owner - chose to either:
1. Pay myself a full salary - On which I pay NI and Tax and the company pays NI.
2. Pay myself up to the Tax free allowance and take an annual dividend on my shares to make up my salary.
Both are perfectly legal, yet option 2 pays much less in tax to the Treasury and puts more money into my pocket.
I chose option 2, which is tax avoidance.
What a silly boy I am for doing that.
:rolleyes:
My point is the majority of people dont get the chance to avoid tax so maybe it's time people who do have the option removed.
You may be doing what you are allowed to do but so are the very wealthy people doesn't make it right though does it.
:rolleyes:
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You know what. Rather than bleating on about "The Rich" and "it's not fair" :cry:, I'd rather people aspire to be rich themselves.
Then we would all be rich.
:lipsrsealed:
The opportunity to avoid tax is not exclusive to the rich, it's based on your circumstances. Rich or poor. The rules are the same for everyone.
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You know what. Rather than bleating on about "The Rich" and "it's not fair" :cry:, I'd rather people aspire to be rich themselves.
Then we would all be rich.
:lipsrsealed:
The opportunity to avoid tax is not exclusive to the rich, it's based on your circumstances. Rich or poor. The rules are the same for everyone.
How do you know how wealthy or not i am you don't :rolleyes:,you just presumed. So i am not bleating on i am just stating a point that people with serious money using loopholes to avoid tax should be stopped.
It would be a great world if we didn't have to pay tax in fact i don't like how much tax i pay but unfortunately we do thats how our society works, we could all give not paying tax a go see how that works out for us.
Greece could be a good example of how too much tax avoidance works out.
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The problems in Greece were down to rampant tax evasion, not avoidance.
"The images beamed through Greek TV sets have now become familiar: they show once-powerful, established members of the Greek business world escorted in handcuffs, accused of dodging millions of euros in tax.
And on Sunday, as part of an attempt to combat rampant tax evasion, the Greek government published a list naming 4,152 major tax dodgers.
The evaders, who had been forewarned to either pay up or risk being named and shamed, appear to owe the state a total of €14.877bn."
From The Guardian.
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The problems in Greece were down to rampant tax evasion, not avoidance.
You say avoidance i say evasion, you say potato i say tomato lol anyway we could debate this all day but i need to get back to doing some work :grin:
:cool:
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You know what. Rather than bleating on about "The Rich" and "it's not fair" :cry:, I'd rather people aspire to be rich themselves.
Then we would all be rich.
:lipsrsealed:
The opportunity to avoid tax is not exclusive to the rich, it's based on your circumstances. Rich or poor. The rules are the same for everyone.
Unfortunately not everyone can be rich, that's not how the system works.
I would disagree with your second statement. If you are rich, you have much better opportunity to avoid tax.
Tax avoidance or evasion, it comes down to the same thing, earn your money, pay your fair share of tax just like everyone else.
That way people have nothing to 'bleat' out :rolleyes:
People that are avoiding tax are no better than benefit scroungers :rolleyes:
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People that are avoiding tax are no better than benefit scroungers :rolleyes:
Well. No.
Obviously people avoiding tax are generating an income - or similar - which it taxable, and therefore making a contribution. "Benefit scroungers" are not.
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People that are avoiding tax are no better than benefit scroungers :rolleyes:
Well. No.
Obviously people avoiding tax are generating an income - or similar - which it taxable, and therefore making a contribution. "Benefit scroungers" are not.
Well we'll have to disagree on that one.
Everyone should pay tax at the current rates, no exclusions.
Both types of people are effectively costing the country money.
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SO. Effectively anyone who has ever bought soemthing sub £18 from Amazon, or ANYTHING from Play and other companies who have been using the low value consignment relief to bring value goods to the consumer Are basically benefit scroungers :huh:
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[/quote]
Well that's a well thought out statement.
If you give anybody several options to pay tax, they will all (you will all) take the route that pays least tax and puts more money into your pocket. FACT!
Example.
I can - as a company owner - chose to either:
1. Pay myself a full salary - On which I pay NI and Tax and the company pays NI.
2. Pay myself up to the Tax free allowance and take an annual dividend on my shares to make up my salary.
Both are perfectly legal, yet option 2 pays much less in tax to the Treasury and puts more money into my pocket.
I chose option 2, which is tax avoidance.
What a silly boy I am for doing that.
:rolleyes:
[/quote]
+1
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http://www.moneysupermarket.com/c/news/tax-allowances-2012-13/0013703/?source=CRM-221E7AD8
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Overall i'm quite pleased with the budget even though i'm a smoker. There's alot of sense in what George Osbourne set out. I especially like that on your payslip you will be able to see whats going where. I take the veiw that it could be alot worse and we should thank our lucky stars we're not in the same situation as Greece. And before anyone asks i'm not a conservative :grin:
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I think they should have lowered fuel tax instead of cutting this, cutting that.
It would benefit EVERYONE.
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Overall i'm quite pleased with the budget even though i'm a smoker. There's alot of sense in what George Osbourne set out. I especially like that on your payslip you will be able to see whats going where. I take the veiw that it could be alot worse and we should thank our lucky stars we're not in the same situation as Greece. And before anyone asks i'm not a conservative :grin:
You don't sound Conservative to me, just intelligent.
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I think they should have lowered fuel tax instead of cutting this, cutting that.
It would benefit EVERYONE.
Raising the tax threshold benefits everyone. Lowering fuel tax benefits just drivers.
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http://www.thedailymash.co.uk/politics/politics-headlines/life-to-be-slightly-easier-for-people-who-are-absolutely-fine-201203165017/
:grin:
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I think they should have lowered fuel tax instead of cutting this, cutting that.
It would benefit EVERYONE.
Raising the tax threshold benefits everyone. Lowering fuel tax benefits just drivers.
Not quite. Think about the cost of most things. They are probably delivered by road. If fuel duty was lowered then transport costs would fall. Then as a result things like food would fall in price.
We all eat food. Therefore reduced fuel duty is good for everyone.
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Raising the tax threshold is just smoke & mirrors to make you feel like your gaining something believe you me they will take back with the other hand.
As for being lucky it could of been worse that is what they want you to think,that's what every budget is about making you feel like they are making you better off when in fact you are being screwed as always lol
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I think they should have lowered fuel tax instead of cutting this, cutting that.
It would benefit EVERYONE.
Raising the tax threshold benefits everyone. Lowering fuel tax benefits just drivers.
Not quite. Think about the cost of most things. They are probably delivered by road. If fuel duty was lowered then transport costs would fall. Then as a result things like food would fall in price.
We all eat food. Therefore reduced fuel duty is good for everyone.
Or far more likely, they'll keep costs exactly the same and pocket the savings instead.
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Raised the tax threshold but also lowered the 40% tax rate the bastards :angry: Going to give up smoking soon....cant be dealing with £8 for 20
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(https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash3/555578_3272216758756_1067508996_3254932_1433624030_n.jpg)
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It amused me how the raises in duties start tonight to make them more money but the one to really help us out, by raising the income tax bracket doesnt come into force till April 2013!
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Raising the tax threshold is just smoke & mirrors to make you feel like your gaining something believe you me they will take back with the other hand.
As for being lucky it could of been worse that is what they want you to think,that's what every budget is about making you feel like they are making you better off when in fact you are being screwed as always lol
+1, I now earn £20 more with the new tax code, yet my train fare has risen £35... Smokes have gone up.... fuel has gone up, would like to know where the so claimed cheapest electricity and gas is as my bills are still identical. Council tax has gone up, water has gone up... Plus NI contribution has increased.
However I should be thankful I earn £20 more :rolleyes: I'm surprised when I buy things I don't get a pack of condoms with them and a novelty card for the purchase saying "f*ck yourself"
Tax avoidance I'm in two minds, if I had the money or my own business I would do it, split the business to have the misses as an owner and maybe another family member so they can receive dividends. But at the same time I don't think its fair to a degree.
Also Steve WTF you smoking?
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I think they should have lowered fuel tax instead of cutting this, cutting that.
It would benefit EVERYONE.
Raising the tax threshold benefits everyone. Lowering fuel tax benefits just drivers.
Not quite. Think about the cost of most things. They are probably delivered by road. If fuel duty was lowered then transport costs would fall. Then as a result things like food would fall in price.
We all eat food. Therefore reduced fuel duty is good for everyone.
Everything is delivered by road and i would imagine that there was no cut in fuel duty to pacify the left wing 'greens' in the libdem party and make them think they are still part of the 'team'.
You would have to raise the tax threshold a lot more than that to get people on benefits who want to work, back to work and to compensate those who are employed for the lack of even inflationary pay increases.
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:grin:
Perhaps we should up the threshold of difficulty in using the quote function.
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Tax evasion I'm in two minds, if I had the money or my own business I would do it, split the business to have the misses as an owner and maybe another family member so they can receive dividends. But at the same time I don't think its fair to a degree.
Avoidence, not evasion, if its not paid here its paid there.
As Elvi said, put the opportunity in front of anyone, you want whats best for you.
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Aaaaaannnd on this tax calculator thing, im £74 a month worse off and someone that earns £25k is only £8 worse off.
Gaybos
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Aaaaaannnd on this tax calculator thing, im £74 a month worse off and someone that earns £25k is only £8 worse off.
Gaybos
What you using, I use this one:
http://listentotaxman.com/
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I'll be £14 a month better off next year.
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Just the one on the telegraph website. that one doesn't particulary apply to me as i'm self employed an sh!t be complicated!
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I'll be £1.04 a year worse off.. :laugh:
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I'll be £1.04 a year worse off.. :laugh:
NOOOO!!! end the madness! Broken Britain!! brokeeennn britain!!!!!!! :laugh: :laugh: :laugh:
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I'll be £1.04 a year worse off.. :laugh:
NOOOO!!! end the madness! Broken Britain!! brokeeennn britain!!!!!!! :laugh: :laugh: :laugh:
:laugh:..i guess i'll just have to close the window on the motorway or something..
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I used the Beeb calculator and got that I'd be £115 better off next year. Up on wage due to the threshold rise but down on the car and booze, obviously.
Meh.
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Ahh here we go. The BBC reckon I'll be £286 a year better off.
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I'll be £1.04 a year worse off.. :laugh:
NOOOO!!! end the madness! Broken Britain!! brokeeennn britain!!!!!!! :laugh: :laugh: :laugh:
BBC one says i'll be £400 a year better off....windows down!! :grin:
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According to this BBC calc I'll be £521 better off in 2012/2013 :undecided:
http://www.bbc.co.uk/news/business-17442946
According to http://listentotaxman.com/ I'll be £185 better off :huh:
Best not tell the wife :lipsrsealed:
EDIT: Just seen the letter on the fridge she put there for me to see, rent has gone up and swallowed the BBC estimate and more :rolleyes: Oh well, sh!t happens.