Maybes Posted 2 June 2014 Posted 2 June 2014 If it helps I have not earnt 10k yet and I get taxed the **** out of. I always thought id not get taxed until I get 10k but not the case You will receive a £10k tax free allowance for the 2014/15 tax year. You're probably on the emerygency BR tax code, so your gross pay is being taxed at 20%. And what the guy below said. Forgot to mention that aspect .
lc4lcfc Posted 2 June 2014 Posted 2 June 2014 If it helps I have not earnt 10k yet and I get taxed the **** out of. I always thought id not get taxed until I get 10k but not the case They average it out over the year it's roughly £830 a month anything more than that you'll get taxed 20% beats the alternative of not getting taxed at all then once you hit £10000 paying 20% on everything!
Tommy G Posted 2 June 2014 Posted 2 June 2014 Sorry but if you are paying 50% these days with the amount of tax avoidance avaliable you deserve too. You've got everything from betting accounts to ewallets you can hold money in securely away from prying eyes. Get your wage paid into your own company rather than yourself. Jesus don't know where to start with that. If you work for a company as an ''employee'' they will tax you on the PAYE scheme, you cant just go self employed to avoid paying tax, that is probably the most simple tax avoidance scheme and would be widely used by everyone if legal. The only way to avoid higher rates of tax is by either owning your own company or having the majority of your earnings in a company where you are a major shareholder via dividends. If you dont own your own company and ''employed'' then there really is jack all you can do in the mainstream.
Maybes Posted 2 June 2014 Posted 2 June 2014 Jesus don't know where to start with that. If you work for a company as an ''employee'' they will tax you on the PAYE scheme, you cant just go self employed to avoid paying tax, that is probably the most simple tax avoidance scheme and would be widely used by everyone if legal. The only way to avoid higher rates of tax is by either owning your own company or having the majority of your earnings in a company where you are a major shareholder via dividends. If you dont own your own company and ''employed'' then there really is jack all you can do in the mainstream. Fvck it. I'm getting all of my salary paid into my Bet365 account every month. I'll pay no tax and keep it away from prying eyes
Guest MattP Posted 2 June 2014 Posted 2 June 2014 Fvck it. I'm getting all of my salary paid into my Bet365 account every month. I'll pay no tax and keep it away from prying eyes Ironic you should say that as that's exactly how Bet365 pay me
Tommy G Posted 2 June 2014 Posted 2 June 2014 Fvck it. I'm getting all of my salary paid into my Bet365 account every month. I'll pay no tax and keep it away from prying eyes Hope he pays his accountant in smarties or something
l444ry Posted 2 June 2014 Posted 2 June 2014 Jesus don't know where to start with that. If you work for a company as an ''employee'' they will tax you on the PAYE scheme, you cant just go self employed to avoid paying tax, that is probably the most simple tax avoidance scheme and would be widely used by everyone if legal. The only way to avoid higher rates of tax is by either owning your own company or having the majority of your earnings in a company where you are a major shareholder via dividends. If you dont own your own company and ''employed'' then there really is jack all you can do in the mainstream. It also has to be a Limited Company which is subject to Corporation Tax. Any Director can be paid Dividends but you cannot take out more in Dividends than the Company has in cash or one Director cannot take out more than another Director. It's far more efficient though due to less NI. Not as simplistic as Matt would have everyone believe but still far more tax efficient.
Beliall Posted 2 June 2014 Posted 2 June 2014 Be more corrupt Tommy. It makes sense. ...said the music magpie
l444ry Posted 2 June 2014 Posted 2 June 2014 ...said the music magpie And there was me thinking Matt was a UKIP man of principle, bemoaning all the benefit scrounging foreigners amidst us all!!
Guest MattP Posted 2 June 2014 Posted 2 June 2014 And there was me thinking Matt was a UKIP man of principle, bemoaning all the benefit scrounging foreigners amidst us all!! Not at all fella I'm a staunch Conservative eurosceptic.
MooseBreath Posted 2 June 2014 Posted 2 June 2014 Jesus don't know where to start with that. If you work for a company as an ''employee'' they will tax you on the PAYE scheme, you cant just go self employed to avoid paying tax, that is probably the most simple tax avoidance scheme and would be widely used by everyone if legal. The only way to avoid higher rates of tax is by either owning your own company or having the majority of your earnings in a company where you are a major shareholder via dividends. If you dont own your own company and ''employed'' then there really is jack all you can do in the mainstream. There are a few tricks you can do with pension contributions if you're happy to tie the money up long term
Vicki Vixen Posted 3 June 2014 Posted 3 June 2014 For anyone moaning about paying the BRB try paying the higher rate. With NI aswell pretty much 50% taken off you Your point is that someone earning £10k a year should be grateful because those earning over £150k pay a higher rate of tax? Come on, that's a ****ing stupid thing to say.
kingcarr21 Posted 3 June 2014 Posted 3 June 2014 I used to get taxed over £500 a WEEK when i worked on site. Sickening
Jon the Hat Posted 3 June 2014 Posted 3 June 2014 Your point is that someone earning £10k a year should be grateful because those earning over £150k pay a higher rate of tax? Come on, that's a ****ing stupid thing to say. Really? You dont think the fact that people who pay higher (40%+ NI) and top rate (50% + NI) tax are putting more into society than they take out is not something they should be thanked for? What next? Slagging off charitable donations? Those ****ers.
Maybes Posted 3 June 2014 Posted 3 June 2014 Your point is that someone earning £10k a year should be grateful because those earning over £150k pay a higher rate of tax? Come on, that's a ****ing stupid thing to say. You pay a higher rate of tax (40%) when you earn just short of £42k p.a now, which was what he was alluding to. 45% above £150k.
Vicki Vixen Posted 4 June 2014 Posted 4 June 2014 You pay a higher rate of tax (40%) when you earn just short of £42k p.a now, which was what he was alluding to. 45% above £150k. Whatever he meant, the gist of my response is the same. People earning high salaries should not be looking down on people earning much less than themselves telling them they should be grateful to pay a lower rate of tax.
Tommy G Posted 4 June 2014 Posted 4 June 2014 Whatever he meant, the gist of my response is the same. People earning high salaries should not be looking down on people earning much less than themselves telling them they should be grateful to pay a lower rate of tax. When you dont have your picture as George Taft I will take you seriously
Jon the Hat Posted 4 June 2014 Posted 4 June 2014 Whatever he meant, the gist of my response is the same. People earning high salaries should not be looking down on people earning much less than themselves telling them they should be grateful to pay a lower rate of tax. Why not? You reason you can pay a lower rate of tax is becuase people earning more than you take a larger share of the tax burden. That is as it should be of course, but you should indeed be grateful, becuase you are benefitting from the efforts of others. People shouldn't be areseholes about it of course, they are fortunate to have the income they do, and most people are well aware of that.
Vicki Vixen Posted 5 June 2014 Posted 5 June 2014 When you dont have your picture as George Taft I will take you seriously Fair comment
FoxesAreBlue Posted 8 June 2014 Posted 8 June 2014 I got a letter yesterday saying that I have overpaid tax and am due a refund. How/when/where do I claim my prize?
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