£400 A Day Tax

[Greebo]

I think the tax system should be overhauled and made simpler and fairer.


It might also stop driving rich people out of the country where we get no tax from them. Would rather 10-20% than nothing.

That's the problem. Most of the highest earners in this country pay only 10 to 20% tax. There are the odd ones who manage to pay zero but they are rare.

If you are very rich, no need to leave the country when you can easily pay just 10% tax.

If you try and up it so they pay the 40 to 50% they should, then you would get a mass exodus. Pretty much why no government changes it very much, they take the view 10% of something is better than 40% of nothing.

 

[Will Gill]

Totally agree. It's a tool for the rich only and not available to a person who is employed via PAYE on £40,000+ plus and basically has to suffer 40% tax or greater.

However, since most of our politicians make good use of tax avoidance, who's going to ever change it?

Amen to that, alas

 

[Greebo]

Amen to that, alas

Tell me about it. I do lots of tax avoidance for people and reduce their tax burden (although my gf is now self employed and I managed to get her tax bill down to £9k on £77k gross earnings last year ) yet I have to suffer 40% tax on my own earnings as I am an employee

 

[albert]

I'm with Fox. Who earns that much yet feels the need to brag on BookFace?

DOES. NOT. COMPUTE.

Exactly this.

On Facebook he always posts about how much money he's got , houses he's bought and yachts. Refers to himself as "people like me...". And everyone who dissagrees with him he calls "commies"

I don't understand why he's always on Facebook cos he comes over as a **** telling the world about himself all the time , but i aint going to tell him.

 

[Jono8]

Exactly this.

On Facebook he always posts about how much money he's got , houses he's bought and yachts. Refers to himself as "people like me...". And everyone who dissagrees with him he calls "commies"

I don't understand why he's always on Facebook cos he comes over as a **** telling the world about himself all the time , but i aint going to tell him.

If i was that rich, i doubt i would even boter with Facebook to be honest.

 

[Destination]

Earnings do not equate to expenses, he might have an income of 4000 a day, he could have expenses of half of that.
Figures people state might not be their actual net, could be gross.

 

[Strife212]

Did you cash the 10 thousand?

 

[ng93]

Claims to earn a huge amount of money? Check
Spends all day boasting about it on the internet? Check
Generally acts like a bit of a ****? Check

Is his name Mark by any chance?

 

[flibbage0]

On Facebook this is his job title "EMA/CEEMA/LAT AM BRM VC IT" ... i'll not name the company he works for ....

If I remember correctly he drives a Maserati and owns a pharmaceutical company.

Am I right?

 

[metbandit1]

Claims to earn a huge amount of money? Check
Spends all day boasting about it on the internet? Check
Generally acts like a bit of a ****? Check

Is his name Mark by any chance?

LOL

 

[cm1179]

Exactly this.

On Facebook he always posts about how much money he's got , houses he's bought and yachts. Refers to himself as "people like me...". And everyone who dissagrees with him he calls "commies"

I don't understand why he's always on Facebook cos he comes over as a **** telling the world about himself all the time , but i aint going to tell him.

does his gf love him for who he is and his friends think he is a genuinely nice bloke?

 

[MikeHunt79]

Maybe he earns 4k a day with 3k expenses ? Or maybe just a little creative with the accounting

 

[Wynthorpe]

Sounds like the type of guy who i would hate.

 

[dowie]

Say £4000 per day
5 days per week is a gross salary of 1M per year (give or take).

According to this: http://www.i-resign.com/uk/financia...GrossSalary=1000000&radAge=1&txtStudentLoan=0

It should be around £1800 per day in tax.

Of course, if you are earning 1M a year, you would have an accountant, bit of tax fiddling (within the law of course!) trusts setup etc.

Note he's quoted his 'pay' as a daily rate - probably a contractor...

It is quite feasible that he's structured it so he pays less than someone on a salary but 10% seems a bit dubious.

As for people on that rate - just look at the stuff leaked from RBS a few months ago... there certainly are a few on a very tasty daily rate and if RBS will pay those sorts of figures there are likely plenty of similar people at a few other places.

 

[Ary101]

Doesn't sounds like a nice person tbh, but I don't know him so can't really be judgemental :s

 

[albert]

Did you cash the 10 thousand?

Yes lol. I put £5000 in to each of my kids trust funds.

If I remember correctly he drives a Maserati and owns a pharmaceutical company.

Am I right?

Nearly. He works for a pharmaceutical company.