Originally posted by PerfectStorm
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On income in excess of £150,000 the extra tax on dividends is currently 30.6%, so by adding 7.5% across the board results in 38.1%"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance." Cicero -
I think he would prefer some plants to talk to. At least they don't answer back so can't point out what a moron he is.Originally posted by Eirikur View Post
I mean - Camilla or Diana. Which would you choose?Comment
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The tax credit system effectively gave an 'allowance' for the corporation tax paid by the company.Originally posted by AtW View PostMore interesting, given that there are 40% and 45% tax bands, then why the fook divvy taxes are 32.5% and 38.1% - WTF the difference isn't 5%???
Given that corp tax is paid, overall taxation level would be nicely close to 50% - something that is expected from Nu Liebor, but certainly did not expect it from Tories who dropped income tax rates to 45% from 50%.
This has been broken by this new tax, although it is justified by the reduction in the rates of CT, although the major reductions have been in the rates for large companies rather than small ones.
It would now be tempting by this or a future chancellor to increase this rate so that it may come in the future that dividends are taxed at the normal rates, ie 20% & 40% - I am assuming that the 45% rate will have gone by then."The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance." CiceroComment
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Well Diana is probably smellier and more wrinkled nowOriginally posted by BrilloPad View Post“Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.”Comment
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45% rate will be gone, all right, to become 50% after Liebor landslide in 2020, whose first emergency budget will also return corp tax back to 25%.Originally posted by Waldorf View PostComment
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The top rate of tax on dividends is currently 37.5% on the GROSS dividend. Take off the 10% tax credit reduces this to 27.5%.Originally posted by AtW View PostOk, but why is it 30.6%?
Answer that!
To get the rate on the NET dividend, divide 27.5% by 0.9 and this gives you 30.555% rounded up to 30.1%
Eg
£45,000 net dividend paid in cash = £50,000 gross
Tax due 27.5% x £50,000 = £13,750
13,750 / 45,000 = 30.55%"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance." CiceroComment
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7.5% divvy tax where is it going
Ha ha, world of dreams or nightmare depending on your view. Nightmare in my case.Originally posted by AtW View PostLast edited by Waldorf; 14 July 2015, 11:40."The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance." CiceroComment
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This, possibly: New MPs to be handed 10 per cent pay rise worth £7,000 within months - Telegraph
Its a shame that MPs aren't public sector workers then they wouldn't be a 1% pay cap
“Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.”Comment
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They don't even qualify as workers...Originally posted by darmstadt View PostThis, possibly: New MPs to be handed 10 per cent pay rise worth £7,000 within months - Telegraph
Its a shame that MPs aren't public sector workers then they wouldn't be a 1% pay capComment
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