mj.scuba Posted February 1, 2011 Author Share Posted February 1, 2011 No wonder he's a Tory! I wounldn't have been so stupid to sell a load of gold at the bottom of the market like your idol though. Link to comment Share on other sites More sharing options...
wednesday1 Posted February 1, 2011 Share Posted February 1, 2011 I wounldn't have been so stupid to sell a load of gold at the bottom of the market like your idol though. Don't think we'll ever know the answer to that one! Link to comment Share on other sites More sharing options...
vinyl Posted February 1, 2011 Share Posted February 1, 2011 I wounldn't have been so stupid to sell a load of gold at the bottom of the market like your idol though. Indeed. You don't need to be good at maths to understand politics. However it is an advantage if you are Chancellor. :hihi::hihi: Link to comment Share on other sites More sharing options...
Liia Posted February 1, 2011 Share Posted February 1, 2011 From the BBC: "The new threshold at which you start paying the 40% rate will be £35,001 of taxable income. This is in addition to your personal allowance. Taking this into account, you will pay the higher rate on earnings from £42,476". So if your salary is £35k you will not be above the threshold. I think some of the posts on here are misleading in that respect. It was enough to confuse me anyway! Link to comment Share on other sites More sharing options...
Sausage Dog Posted February 2, 2011 Share Posted February 2, 2011 Lol, I'll still be sticking my two penneth in, you don't have to read it though, stick me on your ignore list. I'm sticking with you - youi're more uplifting than Eastenders Link to comment Share on other sites More sharing options...
Sausage Dog Posted February 2, 2011 Share Posted February 2, 2011 Indeed. You don't need to be good at maths to understand politics. However it is an advantage if you are Chancellor. :hihi::hihi: So how did old Charlie Osbourne get the job then? Link to comment Share on other sites More sharing options...
geebosaurus Posted April 17, 2011 Share Posted April 17, 2011 There are a whole load of stupid people who complain about things such as tax going up and don't even understand. Best substitute for knowledge on a subject.....a closed mouth! Link to comment Share on other sites More sharing options...
truman Posted April 18, 2011 Share Posted April 18, 2011 So if your salary is £35k you will not be above the threshold. ! It all depends what your tax code is..... Link to comment Share on other sites More sharing options...
Karis Posted April 18, 2011 Share Posted April 18, 2011 Perhaps the problem is that if you have to charge the customer an additional £14,200 in VAT, the customer goes elsewhere. This is the problem we face. Once you have to start charging VAT, the customer goes elsewhere to a company that can offer the product at a cheaper rate... It's a weird system and it really does benefit the non-VAT registered (Ebay sellers, small set up companies, etc). They can sell part time to pay for a holiday a year while the rest of us have to struggle to compete. Link to comment Share on other sites More sharing options...
Cyclone Posted April 18, 2011 Share Posted April 18, 2011 Doesn't the higher tax only apply to the amount over the threshold? So if you earned 35,500 you'd only pay 40% on the extra 500? (which was already being taxed at 20% anyway) Yes, of course it does. Someone earning 35k will pay nothing at 40% and will pay 35k - 7.5k (the personal allowance) at 20% Link to comment Share on other sites More sharing options...
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