sand-eel
Member
Registered: 15th Mar 07
Location: carluke/braidwood--IRNBRULAND
User status: Offline
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Right i'm going to life in the isle of man, 10% tax
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BluKoo
Member
Registered: 8th Apr 02
Location: Stonehaven (Scotland)
User status: Offline
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And no speed limit either is there?
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Joe
Member
Registered: 20th Jun 04
Location: Hesketh Bank, Lancashire
User status: Offline
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Its expensive to live over there though isn't it?
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Skylined
Member
Registered: 27th Sep 05
Location: Sideways, Surrey
User status: Offline
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quote: Originally posted by sand-eel
Right i'm going to life in the isle of man, 10% tax
cyprus is 5% iirc
warmer as well
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Liam B
Member
Registered: 2nd Mar 09
Location: Herefordshire
User status: Offline
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quote: Originally posted by sand-eel
Right i'm going to life in the isle of man, 10% tax
Isle of Man TT
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sand-eel
Member
Registered: 15th Mar 07
Location: carluke/braidwood--IRNBRULAND
User status: Offline
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quote: Originally posted by BluKoo
And no speed limit either is there?
Just in town
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DizzyRebel
Member
Registered: 2nd Jan 09
Location: Lincoln
User status: Offline
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and you need 10 million in the bank to live there iirc.
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Kano
Member
Registered: 29th Aug 04
Location: Fife
User status: Offline
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quote: Originally posted by DizzyRebel
and you need 10 million in the bank to live there iirc.
Don't talk garbage..
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sand-eel
Member
Registered: 15th Mar 07
Location: carluke/braidwood--IRNBRULAND
User status: Offline
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I think there will be a lot of people that defo will not have £10M in the bank.
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--DAN--
Member
Registered: 3rd Feb 03
Location: Bottesford. Drives;3 Series
User status: Offline
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quote: Originally posted by sand-eel
quote: Originally posted by BluKoo
And no speed limit either is there?
Just in town
Everywhere now but the police are very generous!
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saj_123
Member
Registered: 6th Jan 09
Location: Berkshire
User status: Offline
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quote: Originally posted by Skylined
quote: Originally posted by sand-eel
Right i'm going to life in the isle of man, 10% tax
cyprus is 5% iirc
warmer as well
Dubai is 0% Even warmer there.
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sand-eel
Member
Registered: 15th Mar 07
Location: carluke/braidwood--IRNBRULAND
User status: Offline
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Its not completely tax free, there are certain zones that are to promote commerce etc.
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dannymccann
Member
Registered: 9th Aug 06
Location: Doddington, Lincolnshire
User status: Offline
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165000
less P.A (6035)
158065
34800 @ 20% = 6960
123265 @ 40% = 49306
= £56266 Tax
Net Pay = 165000 - 56266 = £108734
If I have worked it out correctly
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sand-eel
Member
Registered: 15th Mar 07
Location: carluke/braidwood--IRNBRULAND
User status: Offline
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I'm sure if you make that much your personal allowance is thrown out the window.
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Matt L
Member
Registered: 17th Apr 06
User status: Offline
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08/09 on 150k you would get £94,467.85
09/10 on 150k you would get £94,811.15
edit: roughly depends on if they are over 65 and the tax code.
[Edited on 05-06-2009 by Matt L]
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Tommy L
Member
Registered: 21st Aug 06
Location: Northampton Drives: Audi wagon
User status: Offline
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£103,661.15 after tax shocking
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Eck
Premium Member
Registered: 17th Apr 06
Location: Lundin Links, Fife
User status: Offline
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LMAO John I knew you'd be in here judging by your other pished replies
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mwg
Member
Registered: 19th Feb 04
Location: South Lakes
User status: Offline
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quote: Originally posted by Hammer
quote: Originally posted by Kevxx
yeah exactly, ask Cosmo how he scams it
He'll own a share of the company meaning he can withdraw dividends.
What does that mean exactly? Not clued up on all this.
I've always wondered how the directors at my work would get around tax as they will earn a reasonable amount. Plus a few hundred k in profit? Never really known how it works
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CORSA NUT
Member
Registered: 3rd Aug 01
Location: Wirral
User status: Offline
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Surely you'd just ask to be paid £149,000 to avoid the high bracket
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BluKoo
Member
Registered: 8th Apr 02
Location: Stonehaven (Scotland)
User status: Offline
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quote: Originally posted by CORSA NUT
Surely you'd just ask to be paid £149,000 to avoid the high bracket
According to http://www.listentotaxman.com/ you would only take home £93,877.85 if that was the case.
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Fraser Young
Member
Registered: 26th Dec 02
Location: Dundee City Drives: 58 Impreza WRX
User status: Offline
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quote: Originally posted by CORSA NUT
Surely you'd just ask to be paid £149,000 to avoid the high bracket
The larger tax bracket at 50% is only on earnings above that amount though as any progressive taxation system works. So there would be no advantage to your strategy you would effectively be taxing yourself 100% on the excess 16k rather than 50%.
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John
Member
Registered: 30th Jun 03
User status: Offline
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quote: Originally posted by Eck
LMAO John I knew you'd be in here judging by your other pished replies
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Hammer
Member
Registered: 11th Feb 04
User status: Offline
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quote: Originally posted by Matty G
quote: Originally posted by Hammer
quote: Originally posted by Kevxx
yeah exactly, ask Cosmo how he scams it
He'll own a share of the company meaning he can withdraw dividends.
What does that mean exactly? Not clued up on all this.
I've always wondered how the directors at my work would get around tax as they will earn a reasonable amount. Plus a few hundred k in profit? Never really known how it works
Whenever you own a share of a company and it makes a profit or surplus it can either be re-invested or apportioned to its shareholders through dividends. They still get taxed but it's 10% up to a certain amount and you can give them in 6 monthly cycles (or at least the company i worked for did anyway). The reason being the company has already paid tax on the profits.
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Root
Member
Registered: 28th Dec 08
User status: Offline
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I wish I took home £165 before tax
unfortunately it's like £7.2k but I don't pay any tax.
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mwg
Member
Registered: 19th Feb 04
Location: South Lakes
User status: Offline
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quote: Originally posted by Hammer
Whenever you own a share of a company and it makes a profit or surplus it can either be re-invested or apportioned to its shareholders through dividends. They still get taxed but it's 10% up to a certain amount and you can give them in 6 monthly cycles (or at least the company i worked for did anyway). The reason being the company has already paid tax on the profits.
Thanks
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