No To Retro Tax – Campaign Against Section 58 Finance Act 2008

[centurian]

Ready to fire this off tomorrow with a couple of meg of attachments...

Then you might want to check those figures....

Firstly, you need to understand how employers NI is calculated. It is not 13.8% of the total gross, but 13.8% of employee gross, which is around 12.1% of the total gross. And the other taxes are taken from the employee gross.

Last time I did the maths the two rates were roughly 40% (basic) and 49% (higher)

You have also forgotten to account for your personal allowance in reaching the higher rate tax threshold. The 40% band kicks in at 34370+8105 = 42475, almost exactly the point when the NI drops down. So that big chunky band applies to less than a tenner of salary.

[WhiteCat]

17th June campaign email

Sent

[reckless]

Letter to D Gauke and Treasury

'Bombs gone skipper!'

[FredBasset]

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[bollox]

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me as well

[smalldog]

chocks away! - email sent

[SantaClaus]

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[foolishboy]

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[rosebud]

email

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[WhatEver]

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