"GREAT" Britain

[sebastionay]

That seems logical, I've been paying close attention to the water talks in Africa recently. I think its easy for us to forget how important water actually is though living in GB.

 

[bhavin]

Out of interest why do you guys think that China occupied Tibet?

Do you think it is to create a buffer zone for china in case of an attack, for commercial interests or something else?

 

[bhavin]

Guys and gals, all the mathmaticians and einsteins > can you calculate the tax paid by the following person in "GREAT BRITAIN"

A higher rate tax payer, salaried person, pays tax and NI, Spends £35,000
how much tax has he paid in total so that he is able to enjoy the spending
assume that all the spending is on vatable items

so what would be the tax

 

[scose-no-doubt]

Guys and gals, all the mathmaticians and einsteins > can you calculate the tax paid by the following person in "GREAT BRITAIN"

A higher rate tax payer, salaried person, pays tax and NI, Spends £35,000
how much tax has he paid in total so that he is able to enjoy the spending
assume that all the spending is on vatable items

so what would be the tax

Fill in the white boxes.

Forgot to fill it in . The gross salary you're looking for is 49690.67 to leave a net pay of 35000.

would be better if you chand box G29 to "=H9-I27"

bye

 

[bhavin]

Thanks SCOSe, this is a GREAT excel template which is goin to be of great use. Appreciate your time to do it. God Bless

 

[bhavin]

Guys and gals, all the mathmaticians and einsteins > can you calculate the tax paid by the following person in "GREAT BRITAIN"

A higher rate tax payer, salaried person, pays tax and NI, Spends £35,000
how much tax has he paid in total so that he is able to enjoy the spending
assume that all the spending is on vatable items

so what would be the tax

Maybe I was not clear on my Question, what I was trying to assess is how much does the Government EARN from a Higher Rate tax payer, AFTER he has gone past the thresh hold, you can include any other taxes.

have i made it clear?
basically shows how the govt is screwing the hard working people.

 

[bhavin]

So For example, once new tax increases come in, the earnings for the Government will be:

Tax > 50%
Ni 12%
NI employers - 11%
VAT - 20% ie the spending
Duty and other taxes - Assume 2%

so 50+12+11+20+2 = 95%

I am getting 95% !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Have i got it right????

Ie the above is based on the amout that a Higher rate tax payer spend AFTER he passes the threshold

will appreciate your feedback

95% is a lot!

 

[Atilla]

So For example, once new tax increases come in, the earnings for the Government will be:

Tax > 50%
Ni 12%
NI employers - 11%
VAT - 20% ie the spending
Duty and other taxes - Assume 2%

so 50+12+11+20+2 = 95%

I am getting 95% !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Have i got it right????

Ie the above is based on the amout that a Higher rate tax payer spend AFTER he passes the threshold

will appreciate your feedback

95% is a lot!

Wrong! Very wrong.

Your maths is pretty useless.

 

[bhavin]

Wrong! Very wrong.

Your maths is pretty useless.

he he he ! LOL
thanks, but seriously I would appreciate some feedback.
I come up with 95%, if i am wrong, then what is right?

 

[scose-no-doubt]

Employer NIC = Total Gross wage @ 12.8%
Wage - 6475 = taxable wage
taxable wage x tax @ >20% up to 34800 with any amounts over 34800 charged at 40% any amount over 150000 charged at 50%
Wage - 5715 = NICable
NICable x NIC @ 11% up to 34800 with amounts over 34800 charged @ 1%
Net wage = Gross wage - total tax - total nic

VAT and other duties will be paid on % net wage spent.

Total tax %age will depend on your earning so to give a standard % is impossible

 

[Atilla]

Employer NIC = Total Gross wage @ 12.8%
Wage - 6475 = taxable wage
taxable wage x tax @ >20% up to 34800 with any amounts over 34800 charged at 40% any amount over 150000 charged at 50%
Wage - 5715 = NICable
NICable x NIC @ 11% up to 34800 with amounts over 34800 charged @ 1%
Net wage = Gross wage - total tax - total nic

VAT and other duties will be paid on % net wage spent.

Total tax %age will depend on your earning so to give a standard % is impossible

Good stuff but I bet Bhavin still doesn't get it! :cheesy:

 

[scose-no-doubt]

Oh well at least I've tried. Plenty people spend their time putting up with questions from me on complex subjects that I have trouble grasping so least I can do is try to impart what little wisdom I have to people who may benefit.

 

[bhavin]

Good stuff but I bet Bhavin still doesn't get it! :cheesy:

LOL

Ok, atilla, so what is the %, you have a go

 

[bhavin]

What I am trying to ascertain, is the tax that the GOVT DERIVES > only FROM the HIGHER rate PORTION ONLY, on the SPENDING £35,000
assumption is that this spending attracted the higher rate.
obviously before the hard working guy derived that 35K, he had already paid tax.

All I am trying to ascertain is how much the govt screws up the hard working guys

 

[Atilla]

Employer NIC = Total Gross wage @ 12.8%
Wage - 6475 = taxable wage
taxable wage x tax @ >20% up to 34800 with any amounts over 34800 charged at 40% any amount over 150000 charged at 50%
Wage - 5715 = NICable
NICable x NIC @ 11% up to 34800 with amounts over 34800 charged @ 1%
Net wage = Gross wage - total tax - total nic

VAT and other duties will be paid on % net wage spent.

Total tax %age will depend on your earning so to give a standard % is impossible

Bhavin - read the red section...

Here is a hint assume you earn £100K before tax and work out the answer for your self.

Alternatively you can punch in your income on to that excellent spread sheet to get your answer...

Why do you need anyone to spell it out for you????

 

[Marwan2010]

Employer NIC = Total Gross wage @ 12.8%
Wage - 6475 = taxable wage
taxable wage x tax @ >20% up to 34800 with any amounts over 34800 charged at 40% any amount over 150000 charged at 50%
Wage - 5715 = NICable
NICable x NIC @ 11% up to 34800 with amounts over 34800 charged @ 1%
Net wage = Gross wage - total tax - total nic

VAT and other duties will be paid on % net wage spent.

Total tax %age will depend on your earning so to give a standard % is impossible

great answer..................
i guess what Bhavin is trying to ascertain is how much of our hard earned ££££ goes to the State.

but yes we can only GUESSTIMATE IT, as he tried to do with a figure of 95%

 

[gamma]

great answer..................
i guess what Bhavin is trying to ascertain is how much of our hard earned ££££ goes to the State.

but yes we can only GUESSTIMATE IT, as he tried to do with a figure of 95%

I thought our hard earned money went to aslym seekers,dodgy banks, corrupt politicians and pakistan.

 

[Marwan2010]

I thought our hard earned money went to aslym seekers,dodgy banks, corrupt politicians and pakistan.

YES you got it!!!!!
DID you know that there are 10 MILLION ECONOMICALLY INACTIVE Bast***rds in UK, surviving on BENEFITS

and as for Pakistan.................... we I feel saddened that 20 million people are displaced, but probably for the first time in my life I have NOT contributted to the flood victims.

If they can afford multi billion nuclear warfare programe then they can afford to feed its people..

 

[Marwan2010]

India gave $5 Million dollars and Pakistan refused!...................

How about the ARAB nations???? NOT a significant contribution of the Rich sheiks
In fact it is the infidels who are helping Pakistan
Will Pakistan wake up to see who their true friends are?

 

[Pat494]

India gave $5 Million dollars and Pakistan refused!...................

How about the ARAB nations???? NOT a significant contribution of the Rich sheiks
In fact it is the infidels who are helping Pakistan
Will Pakistan wake up to see who their true friends are?

Of course NOT

do you think they are rational human beings ?

Not with the mullahs up their ars*es

The mullahs have their own agenda and it involves killing infidels not accepting their gifts.
They would be in padded cells in a civilized country