Do you have to pay TAX out your wages in england ??

chaparral · 16 Oct 2008 at 16:59

Do have to pay tax out your wages in england or is this what the VAT in england is for ???

(Note am from guernsey so i have no idea how your tax system works in england)

In guernsey we have to pay 20% tax on anything we earn over about £8000..

Ironic Namesake · 16 Oct 2008 at 17:00

Unfortunately ...
http://www.hmrc.gov.uk/rates/it.htm

platypus · 16 Oct 2008 at 17:01

We don't pay tax in Britain. The government freely prints money and melts down trees to fund the shortfalls in the gravy exchange.

Ex-RoNiN · 16 Oct 2008 at 17:04

chaparral said:
Do have to pay tax out your wages in england or is this what the VAT in england is for ???

(Note am from guernsey so i have no idea how your tax system works in england)

In guernsey we have to pay 20% tax on anything we earn over about £8000..

VAT is tax on your money that has been taxed already...as is Capital Gains tax, as is inheritance tax, as is Road tax....how many times does the taxed money get taxed exactly, I wouldn't be able to tell you :confused:

chaparral · 16 Oct 2008 at 17:12

OoOverclockaoO said:
Unfortunately ...
http://www.hmrc.gov.uk/rates/it.htm

Your Personal allowance also looks very low compared to guernsey

http://www.gov.gg/ccm/treasury-and-...website/allowances/allowances-details-2008.en

antijoke · 16 Oct 2008 at 17:16

I would say the government takes what it wants on a monthly basis then gives me whatever is left. Some would call it tax I call it robbery. :mad:

Sinque · 16 Oct 2008 at 17:17

You don't pay tax, they take tax.

scorza · 16 Oct 2008 at 17:25

No offence to the OP, but the Channel Islands are really just a parasitic tax-haven. People in Britain, France and Ireland get rich, then go live in the Channel Islands when they realise they can save a few million in tax. Then when it all goes wrong for the Channel Isle goverments, like when they deposit what little revenue they get in Icelandic banks, they come running to the UK government for help.

Energize · 16 Oct 2008 at 17:28

Ex-RoNiN said:
VAT is tax on your money that has been taxed already...as is Capital Gains tax, as is inheritance tax, as is Road tax....how many times does the taxed money get taxed exactly, I wouldn't be able to tell you

Capital gains tax is not on money that has been taxed already, it is money earned via market fluctuations.

chaparral · 16 Oct 2008 at 17:39

scorza said:
they come running to the UK government for help.

I was disgusted with my government when i read about them doing this....

i was thinking to myself why should UK taxpayers money help guernsey stupid government out..

Mulder · 16 Oct 2008 at 17:43

Energize said:
Capital gains tax is not on money that has been taxed already, it is money earned via market fluctuations.

Not really. To realise a gain on any asset you have to purchase it. For pretty much everyone you purchase out of your pay, which has already been taxed.

Energize · 16 Oct 2008 at 17:52

Mulder said:
Not really. To realise a gain on any asset you have to purchase it. For pretty much everyone you purchase out of your pay, which has already been taxed.

But the tax is only on the gained money, not what you earned.

You don't have to purchase anything either, it can be given to you as a gift like shares are when mergers take place.

Mobius 1 · 16 Oct 2008 at 17:55

i heard somewhere that they might be bringing VAT over here to guernsey. i hope they don't. i think jersey might have it now.

chaparral · 16 Oct 2008 at 18:00

-Tauren- said:
i heard somewhere that they might be bringing VAT over here to guernsey. i hope they don't. i think jersey might have it now.

Yes jersey has it...But it's only 3%

Indy500 · 16 Oct 2008 at 18:04

chaparral said:
I was disgusted with my government when i read about them doing this....

i was thinking to myself why should UK taxpayers money help guernsey stupid government out..

You lack a universal welfare system so that reduces the need for huge taxation.

Azagoth · 16 Oct 2008 at 18:10

If it exists then the government taxes it over here! Hell, they even tax you if have the sheer audacity to die!

ChrisJSY · 16 Oct 2008 at 19:29

scorza said:
Then when it all goes wrong for the Channel Isle goverments, like when they deposit what little revenue they get in Icelandic banks, they come running to the UK government for help.

Sorry, what? Most of that was every day people like you and me who invested in those icelandic banks. Unless I missed something the last few days. Hella busy.

dipper17 · 17 Oct 2008 at 10:01

Jersey is a tax haven... get real we do pay tax in the UK (both direct and indirect). People who complain about taxes make me sick, because they are the same ones who are first in line for national health, education, roads and complain if everything is not just perfect!!