Well done Tony Blair!

[pipme]

Lots of anomolies, 40% tax payer gets relief on pension payments at 40%, given by the state, on our behalf, why ? What benefit to the standard rate payer ? -- One man's tax relief is another's tax burden.

None Pip but as they pay tax at 40% they are entitled to the benefits at the same rate otherwise it would be seen as favouritism towards the standard rate payer unless of course their tax relief was also reduced but then you get a downward spiral where does it stop?

I do not agree !! Take pensions, 40% tax relief on private or company contributions ? Why not 22% for all ? I am quite prepared to laud a person earning big bucks, but do not see why the nation should reward his acumen with a cheaper personal pension funded by tax payers as a whole ! Or is this to the civil service blueprint 'Lower salaries but better pensions' Who decides when salaries are no longer relatively low ?
We tend forget when talking of 'social benefits', they come in many forms !
Now then Jasy !! Get back to work me old son -- as Adam pointed out, and especially if funded through overtime, which generally does not attract company pension contributions (NHS attracts on 'unsociable hrs' but not 'overtime' ) ...You should take home at least 100 - (40+1) = 59% of your gross income above the 40% threshhold generally £2020 + £31400 + £4745 + company pension contributions - any reductions in P/A due to company car provision etc. Once you pass that lot you pay 40% tax and 1% NI -- effectively 41% tax.
I thought time off during this period in construction was mainly due to bad weather etc, ie. take hols now at full rate rather than being on short time due to icy weather...

 

[david and julie]

pipme wrote.

...You should take home at least 100 - (40+1) = 59% of your gross income above the 40% threshhold generally £2020 + £31400 + £4745 + company pension contributions - any reductions in P/A due to company car provision etc. Once you pass that lot you pay 40% tax and 1% NI -- effectively 41% tax.

You must look at this from jasy's point of view though, I think these figures may relate to P.A.Y.E. Most site workers these days are self employed and their NI structure is different because they don't have an employer paying part of it. Upto 4 yours ago I was self-employed and paid 40% tax plus my stamp plus a percentage of my earnings, if I remember rightly around 8% to NI. Remember most site work is outside and you can only safely work in daylight hours. Therefore overtime would mean weekends and because you are on a price you don't get double time. Jasy would have to work weekend have half taken off him and then have extra travel and meals to pay. He would be lucky to see 40% of his earnings, would you work Sunday for that?

 

[pipme]

I thought Jasy said he would get less take home on a larger sum, which is not right ..

jasy wrote:

Why earn 45000 a year and take home less than someone who is on 38000

I do not know if he is self employed or not he did mention being a crane driver ... but the stamp is a constant I would have thought attracted by £38k and £45k. ... I have worked for that, not because I particularly wanted, or needed to, but the project required it .. swings and roundabouts I guess.
P

 

[david and julie]

pipme wrote.

I do not know if he is self employed or not he did mention being a crane driver

I don't know either pipme, I meant the self employed generally really. I presumed jasy was because PAYE employees get paid for their holidays and wouldn't therefore reduce their overall salary by taking them.

Thats my defence anyway.

An example of earning more and getting less could be say a kitchen fitter. Lets assume he gets a grand for a kitchen, at basic rate tax he would get stoppages of say 30% 22+8 off gross leaving £700. Working seven days a week would take him to the top rate, so therefore his grand would be less around 48% 40+8 so he ends up with £520 per kitchen. Yes he has earned more gross but less per kitchen, which is what people mean when they say they are getting less, in this example £180 less.

 

[AdamW]

Either way, I wouldn't want to be working on a site in this weather, I would be taking my holidays now too!

I'll keep to my paper pushing for now.

 

[pipme]

Forecast Tax revenues for 2004/05
[code:1]
2004-5
Source Forecast %OfTot
Income tax £128bn 28% paid on earned income by 30mil
NI £ 78bn 17% Paid on earned income.
VAT £ 73bn 16% Spending tax.
Company taxes £ 55bn 12% Corp,petroleum revenue and business rates
Motoring taxes £ 29bn 6% Vehicle Excise Duty and fuel duty
Council Tax £ 20bn 4% This has risen rapidly in recent years
"Sin" taxes £ 17bn 4% Tobacco, alcohol and gambling duties
Stamp duty £ 9bn 2% Charged on purchases of homes and shares
CG,InherTax £ 4bn 1% Paid by investors or estates
Others £ 42bn 14%

The government will collect almost £455 billion in direct and indirect taxes this tax year (2004/05). This works out at £9,440 per adult, or £7,600 per person.
£14,430 per second overall.
Taxes will account for almost 39% of our gross domestic product this tax year GDP is predicted to be £1,175 billion.
[/code:1]
Source The Institute for Fiscal Studies.
Pick the bones outa that lot then !! Note, companies are paying something, I guess it must be those who cannot afford the accountants !
I guess not dificult to see why Inheritance tax is in spotlight, strangely, not the case for Capital Gains tax tho' I wonder why ?

 

[Scoby_Beasley]

....but Tony is the longest serving PM, so he must be ok surely?

Longest serving LABOUR pm. Shows how quick it usually takes the 'working people' (labour speak = plebs) to see through their bu ll sh it.

 

[pipme]

....but Tony is the longest serving PM, so he must be ok surely?

Longest serving LABOUR pm. Shows how quick it usually takes the 'working people' (labour speak = plebs) to see through their bu ll sh it.

Plebian or Pleb
1) The common people of ancient Rome
2) Characteristic of commoners
3) Unrefined or coarse in nature or manner; common or vulgar:

Come in number three our time is up.