Guest sibon Posted January 11, 2012 Share Posted January 11, 2012 The top 1% of earners pay approx 25% of the incometax take They do earn about 13% of the total national income though. Link to comment Share on other sites More sharing options...
truman Posted January 11, 2012 Share Posted January 11, 2012 pity we all dont have the same chances as the well off who know how to fiddle the system (erm use loopholes) how many more are doing this:huh: " I disagree with how much tax the rich pay. It ignores the legitimate loopholes. For example, if I were to work as a consultant with my own limited company, then my company (me) can charge my client a fortune. I then pay my employee (also me) a pittance, and the employee consequently pays even less tax and NI. My company (me) then pays my shareholder (erm...me!) a huge dividend, at less tax and no national insurance. The result is, that although I actually earn a significant wage, technically I earn a pittance, pay tax and NI on it, and get a large dividend on which I pay capital gains. Obviously, if my wife also happens to be a shareholder in my company, then I can split the dividend with her and we both pay less capital gains. That's why there are probably a significant number of 'actual' high earners who technically appear in the low earners box. That's why your numbers don't stack up." Engineer, London Not sure what your point is..the ones who do this won't appear in the "high earners" part of the table...if these people payed paye on their earnings then the "high earners" would contribute an even bigger percentage of income tax..? Link to comment Share on other sites More sharing options...
truman Posted January 11, 2012 Share Posted January 11, 2012 They do earn about 13% of the total national income though. I'm not sure what the problem is with that? Link to comment Share on other sites More sharing options...
Penfold70 Posted January 11, 2012 Share Posted January 11, 2012 It can't be that bad a place to work if you've been there 23 years.. WHY??? It's not like i'm in a Cinema and can just walk out because the film's crap , i'm there for a reason and it's not because i enjoy it . Sad fact is , i have bills to pay and cannot just walk into anther job that pays the same, if i could i'd do it tomorrow. Link to comment Share on other sites More sharing options...
truman Posted January 11, 2012 Share Posted January 11, 2012 WHY??? It's not like i'm in a Cinema and can just walk out because the film's crap , i'm there for a reason and it's not because i enjoy it . Sad fact is , i have bills to pay and cannot just walk into anther job that pays the same, if i could i'd do it tomorrow. What? You couldn't find a similar paying job in 23 years..? What is it if you don't mind me asking.. Link to comment Share on other sites More sharing options...
Guest sibon Posted January 11, 2012 Share Posted January 11, 2012 I'm not sure what the problem is with that? I was simply pointing out a relevant fact. When you consider their total income, the tax paid by the 1% doesn't look outrageous. Link to comment Share on other sites More sharing options...
truman Posted January 11, 2012 Share Posted January 11, 2012 I was simply pointing out a relevant fact. When you consider their total income, the tax paid by the 1% doesn't look outrageous. I didn't say it was outrageous...? Just pointing out how much of a percentage of the tax take is paid by them...according to some on here the higher earners all have clever accountants to stop them paying any tax at all which is clearly nonsense.. Link to comment Share on other sites More sharing options...
Guest sibon Posted January 11, 2012 Share Posted January 11, 2012 I didn't say it was outrageous...? Just pointing out how much of a percentage of the tax take is paid by them...according to some on here the higher earners all have clever accountants to stop them paying any tax at all which is clearly nonsense.. I'm sure that many of them do have clever accountants. That makes the amount of tax paid by the moral members of the 1% even more laudable. I didn't say that you said it was outrageous. You need to read my post again. I was pointing out that the top 1% pay a lot of tax proportionally, but they also earn a lot of money proportionally. Link to comment Share on other sites More sharing options...
ricgem2002 Posted January 11, 2012 Share Posted January 11, 2012 I didn't say it was outrageous...? Just pointing out how much of a percentage of the tax take is paid by them...according to some on here the higher earners all have clever accountants to stop them paying any tax at all which is clearly nonsense.. no one has said they dont pay tax they just pay as little as they can get away with pity the rest of the workers havent got the same privliges Link to comment Share on other sites More sharing options...
ECCOnoob Posted January 11, 2012 Share Posted January 11, 2012 We do. We ALL pay the minimum amount of tax we are legally obliged to pay. We all submit our returns to HMRC claiming everything we can. We all get our accountants and advisors to check through our books to make sure we have claimed, included, not included, reworded, amended what we need to ensure we pay no more than necessary. We all check our payroll, wage slips, P60s to ensure we have paid no excess. We all get straight on the phone to HMRC claiming our refunds. We all take advantage of company incentives, tax free offers, gifts or bonus schemes. We all take advantage of pension, share, savings products giving tax discount or tax free incentives. Funny thing is, even though its a simple case of one mans £16k a year is another mans £150k a year. Its always the plod of £150k who is seen as the enemy. One company's £20,000 turnover is another company's £2 million. Its all relative. 5% or 50%. It all makes a contribution. But its always the million turnovers that get the headlines. Blame the government for the tax laws and loopholes not the businesses themselves. They do nothing better or worse than anyone. I have said many many times. They are there to make money, not be a moral conscious. The protest mobs should be aiming their fire at the MPs not the shop doorways. Link to comment Share on other sites More sharing options...
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