how much tax you realy pay

Income Tax, Council Tax, National Insurance and VAT issues.

Re: how much tax you realy pay

Postby holy vehm » Sat Feb 13, 2010 9:24 am

VAT is set to rise from 17.5 % to 20 % in the autum budget regardless of who wins the next election later this year.
Council tax is set to rise, in my area at least, by 4/5%. This is in part to repair the roads after the winter freeze the council claim.

:peace:

hv
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Re: how much tax you realy pay

Postby DuncanSteelTheBaddestManAround » Thu Mar 18, 2010 9:04 pm

When I was in high school I didn't care about my exams, getta=ing a job or any of it. I knew if I did get a job i'd have to give it all away in tax etc. that was when I was 15 and didn't know about conspiracys etc. So IMO, you have to be very stupid and ignorant to fall for it... sadly thats most people. Then some of the biggest idiots think it's all fine and dandy even after telling them. TBH I think we're all doomed, lol. Most people are so stupid and ignorant; they can't be woken up and support the system no matter what you say... and they help defend it.

Also more tax:

Manufacturer > +17.5% > distributer > +17.5% retailer > +17.5% man

£10 > £11.70 > £13.74 > £16.15

So almost everything we buy has an extra 60% at least added onto it. But then you have to include prices increase when goign down the chain. So everything probably doubles in price once it's down the chain.

I bet most people work for about £25 / day after tax and debts.

My dad works from 6am to 8pm and on sundays... he doesn't have ANY money left over to spend after tax, debts and bills.
Can't even afford his own food. He's a full time slave. :puke: :ouch: :no:
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Re: how much tax you realy pay

Postby pedawson » Thu Mar 25, 2010 6:52 pm

Well TAX is all well and good, BUT, what do we pay it for.
Now I know we pay for NHS so can anyone tell me WHY the NHS advertise????

We work, pay TAX, part of that TAX goes to the NHS and part of that goes to advertise the NHS to US.

How about this. The country employs thousands of people to collect TAX so they can PAY those that COLLECT TAX.
Out of the more than 60 odd% we pay in TAX I would say half of that goes to pay those that collect it ONLY to PAY TAX to the employee that takes it from them.

NOW that’s convoluted.

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Re: how much tax you realy pay

Postby waterleat » Sat Mar 27, 2010 9:45 pm

DuncanSteelTheBaddestManAround wrote:Also more tax:

Manufacturer > +17.5% > distributer > +17.5% retailer > +17.5% man

£10 > £11.70 > £13.74 > £16.15

So almost everything we buy has an extra 60% at least added onto it. But then you have to include prices increase when goign down the chain. So everything probably doubles in price once it's down the chain.


I have to disagree with your maths. these companies are in commerce to make a profit
Using the £10 start with assumptions that each co. make 20% profit and they are VAT registered so claim back input tax

£10 + £2 (profit) VAT on £12 is £2.10 but this is claimed back by
distibutor
£12 +£2.40(profit) VAT on £14.40 is £2.52 but this is claimed back by
retailer
£14.40 +£2.88(profit) VAT on £17.28 is £3.02 but this is all paid by the
man
he pays £20.30 for the goods £ 3.02 in VAT and £7.28 in profit down the line

I make that VAT at 30.2%

BUT the companies have to pay corporation tax at 25% so
25% of 7.28 = £1.82
both taxes add to £4.84 - - - - > 48.4%

Note no account of wages and PAYE and NI are included here - someonelse used them in their calculations

BUT if profit margin was at 50%
man pays £39.65 VAT = £5.90 profits are £23.75 corp tax £5.93
total tax = £11.84
£118%
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Re: how much tax you realy pay

Postby holy vehm » Fri Jan 14, 2011 10:10 pm

huntingross wrote:http://www.fmotl.com/forum/viewtopic.php?f=77&t=1755&hilit=+fuel#p16203

And we are currently sitting at about £1.15 per litre at the moment



Ah the good old days eh, when petrol was cheap :grin:
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Re: how much tax you realy pay

Postby nasoona » Thu Feb 17, 2011 9:57 am

when buying a car i know you have to have car insurance before you drive up but does that necessarliy means they want know you have it but do they let you drive off the lot first or do you give the dealership the insurance money!
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Re: how much tax you realy pay

Postby holy vehm » Thu Feb 17, 2011 11:08 am

nasoona wrote:when buying a car i know you have to have car insurance before you drive up but does that necessarliy means they want know you have it but do they let you drive off the lot first or do you give the dealership the insurance money!



At car dealerships there is usually a salesman for an insurance company who the car sales team will direct you towards or you can arrange on the phone cover for the car.
Im not sure if they accept a fax copy of insurance from your insurance company, i think they do but worth checking out. If they dont then you would have to wait for the cover note to arrive at your address and then go back to the car dealership to collect your car.
I dont see why it matters, im not sure of any 'law' that says it MUST be insured prior to driving off the forecourt. I have bought from smaller independent dealers and just driven off in the car yet when i have used a national car company its all about the insurance, personally i see a scam somewhere.
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Re: how much tax you realy pay

Postby CarbonFibre » Sun Apr 10, 2011 6:17 am

To the OP, did you deduct your combined tax-free amount from your calculation?
And any child support benefit?
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