• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

50% tax on 100K salaries

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    50% tax on 100K salaries

    No comments yet in this bombshell. I know the general public will be ecstatic, but it cant be good for the economy.

    Combined with National Insurance, is it still worth working?
    'Orwell's 1984 was supposed to be a warning, not an instruction manual'. -
    Nick Pickles, director of Big Brother Watch.

    #2
    Originally posted by SantaClaus View Post
    No comments yet in this bombshell. I know the general public will be ecstatic, but it cant be good for the economy.

    Combined with National Insurance, is it still worth working?
    Theose hard working taxpayers have to work that wee bit harder, those City Gents lost their shirts at the casino - guess whos gonna bail them out.

    It is still worth working - if youve got your nose in the public sector trough.

    Comment


      #3
      Originally posted by SantaClaus View Post
      No comments yet in this bombshell. I know the general public will be ecstatic, but it cant be good for the economy.

      Combined with National Insurance, is it still worth working?
      Threaded will now only work 3 months a year to keep his income under the threshold.

      Atw is still trying to make SKA enough of a success to pay basic rate tax.

      HTH

      Comment


        #4
        I read it as 50% tax on salaries of 150k
        (\__/)
        (>'.'<)
        ("")("") Born to Drink. Forced to Work

        Comment


          #5
          Originally posted by SantaClaus View Post
          No comments yet in this bombshell. I know the general public will be ecstatic, but it cant be good for the economy.

          Combined with National Insurance, is it still worth working?
          Tax has been lower in Denmark for the last few years, and is actually falling.
          Insanity: repeating the same actions, but expecting different results.
          threadeds website, and here's my blog.

          Comment


            #6
            It will be a very popular measure that will make flip all difference.
            Down with racism. Long live miscegenation!

            Comment


              #7
              Originally posted by NotAllThere View Post
              It will be a very popular measure that will make flip all difference.
              Indeed, surely many of these high earners will have schemes set up to ensure they don't pay PAYE on everything?

              Comment


                #8
                Originally posted by Platypus View Post
                Indeed, surely many of these high earners will have schemes set up to ensure they don't pay PAYE on everything?
                Who would do something like that?
                Proud owner of +5 Xeno Geek Points

                Comment


                  #9
                  Originally posted by SantaClaus View Post
                  No comments yet in this bombshell. I know the general public will be ecstatic, but it cant be good for the economy.

                  Combined with National Insurance, is it still worth working?
                  You have it wrong.

                  It is a 60% tax rate on salaries between £100,000 and £112,950 and 50% on salaries above £150,000. Also 50% on trusts.

                  Comment


                    #10
                    Jackie Stewart was on the BBC World News thing last night and at one point justifying his move the Switzerland. The Beeb bloke was being all holier than though saying he only moved to escape tax. Stewart said in the year he moved the tax rate went to 93% and he earned 100k that year. After tax he'd get 7. If I were him, one of the F1 cars he drove couln't have got me out of the UK fast enough.
                    Rule Number 1 - Assuming that you have a valid contract in place always try to get your poo onto your timesheet, provided that the timesheet is valid for your current contract and covers the period of time that you are billing for.

                    I preferred version 1!

                    Comment

                    Working...
                    X