FLAT RATE TAX BAND

Buckley said:
What's this about?
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just some article about what a great idea it would be introducing a flat rate of income tax for EVERYONE. and about how it will help making it easier than the current system of allowances, tax credits etc...

wont happen tho.
 
I was totally opposed to the idea when in came up in one of the US presidential elections a few years back (1996? Republican candidate Steve Forbes was the proponent). I thought it would be unfair on the lower classes.

However, after seeing it in action here in Russia (flat 13% tax rate on everyone) I think it's the best thing since sliced bread. 100% support it.
 
Morbyd said:
I was totally opposed to the idea when in came up in one of the US presidential elections a few years back (1996? Republican candidate Steve Forbes was the proponent). I thought it would be unfair on the lower classes.

However, after seeing it in action here in Russia (flat 13% tax rate on everyone) I think it's the best thing since sliced bread. 100% support it.
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13% for everyone?? Do you have to pay national insurance etc aswell? Taxes in this country are a fvckin joke - 22% (or 40% if you earn over £33k) as well as 11% national insurance. Thats pretty much 1/3 off each months pay.

AS WELL AS VAT on just about everything and don't get me started on fuel and cigarettes.

It's beyond a joke which is the main reason why I'm thinking about working abroad.

Rant over :evil: :evil: :evil: :evil: :evil: :evil: :evil: :evil: :evil:
 
The social tax (insurance/pension) is a payroll tax so it's paid by the employer.

VAT is 16% here so that's not cheap.

Still, both of these are hidden taxes for the consumer. I suppose you'd get more salary if companies didn't have to pay social taxes, but you don't notice it because it doesn't come from your quoted salary.

You just pay your 13% and go on your happy way 8)
 
chewie_oo7 said:
Morbyd said:
Is that re: income taxes?
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yep.

ill save about 2k. so im all for it! :lol:
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Yep - all for this (although they reckon it wont be brought in for obvious reasons)

I save 3k at least..... Now what could I spend that on every year???

I know - more holidays... 8) 8) 8) 8)
 
end of the day. you earn money. and yr gonna be spending it at somepoint before you depart this world.

why we've got sooo many taxes under fancy names is beyond me.

:roll:
 
Morbyd said:
The social tax (insurance/pension) is a payroll tax so it's paid by the employer.

VAT is 16% here so that's not cheap.

Still, both of these are hidden taxes for the consumer. I suppose you'd get more salary if companies didn't have to pay social taxes, but you don't notice it because it doesn't come from your quoted salary.

You just pay your 13% and go on your happy way 8)
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ps Liverpool may have to pay capital gains tax on the super cup trophy they're gonna win on Friday...

;)
 
Difficult to say how much i'd save, but i currently only pay 40% on what i earn over £35K, lower band on part of my wage and the remainder of it is tax free (legallly) :P

I seriously hope something is done about the 40% tax cos my salary is highly likely to double/triple in the next 12 months :?

Wonder if they plan on scrapping the tax free earnings for everyone, currently around £4900?
 
I seriously hope something is done about the 40% tax cos my salary is highly likely to double/triple in the next 12 months :?

You poor thing. My heart really does bleed!
 
The Fox said:
I seriously hope something is done about the 40% tax cos my salary is highly likely to double/triple in the next 12 months :?

You poor thing. My heart really does bleed!
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It's not unreasonable to wish that having already paid enough tax to pay for the public services etc for the next four generations of your family, that further increases in your earning might benefit you alone.

Never going to happen but definitely fair enough to wish.
 
The Fox said:
I seriously hope something is done about the 40% tax cos my salary is highly likely to double/triple in the next 12 months :?

You poor thing. My heart really does bleed!
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It's more an 'on paper' thing, like how the profits will be split differently for us next year.

Wasn't bragging :roll:
 
I totally agree as I also pay 40% but if my wage was to double or triple in next 12 months I'd be doing chuffing cartwheels not moaning on here (he says jelously)
 
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