Dreams of Working From a Beach Risk Turning Into a Tax Nightmare

[Martin@AS Financial]

Interesting report from Bloomberg:

https://www.bloomberg.com/news/artic...premium-europe

[AtW]

[LondonManc]

[GigiBronz]

another reason to push for outside contracts. pay yourself min wage and keep the rest in the company.

although I would presume the client would want his pound of flesh when offering outside and good money. and min wage will be at 0% so the other jurisdiction might want to tax that.

[Paralytic]

...a Londoner, a New Yorker and a Hong Konger walking into a bar. Let’s say it’s in Rio de Janeiro. They all make the same salary — $100,000 — and have been allowed to work remotely from Brazil for two months.

<snip>

.... who will owe the most in taxes?

Did they ask their accountants?

[Whorty]

Did they ask their accountants?

Makes no difference who pays the most tax ... $100,000 is nowhere near enough to live on. It's all the boomers fault. Salaries should be higher. Can't possibly survive on that.

[GigiBronz]

Makes no difference who pays the most tax ... $100,000 is nowhere near enough to live on. It's all the boomers fault. Salaries should be higher. Can't possibly survive on that.

No disrespect meant, I've seen you are a decent person and most likely well intended.

But, 100k is not a lot by many standards, sure you are in the 5% but would be basically paying bills without having the opportunity to put some money aside or not work for a while.
100k $ is about 72k in £. for that amount you would be poor as f*** in London zone 1-3.
If you have a family and don't get other support or benefits from gov, or wife is not working on similar salary ... you'd be visiting food banks quite often.


The truth is that the current generation is paying rent and exorbitant prices for everything. yeah we have cheap food but that is more likely to kill you than anything else. And tinder & alcohol to drown our sorrows.

[vetran]

No disrespect meant, I've seen you are a decent person and most likely well intended.

But, 100k is not a lot by many standards, sure you are in the 5% but would be basically paying bills without having the opportunity to put some money aside or not work for a while.
100k $ is about 72k in £. for that amount you would be poor as f*** in London zone 1-3.
If you have a family and don't get other support or benefits from gov, or wife is not working on similar salary ... you'd be visiting food banks quite often.


The truth is that the current generation is paying rent and exorbitant prices for everything. yeah we have cheap food but that is more likely to kill you than anything else. And tinder & alcohol to drown our sorrows.

oh do feck off!

most couples with kids survive quite well on <£50k combined.

Average household budget is £30k.

https://www.nimblefins.co.uk/average...-budget#budget


If you can't put money away on £100k then you seriously need to examine your spending.

I won't go into London because property & travel are so costly & a pain.

Plenty of old people paying stupid rents as well, not everyone bought a property 30 years ago or lost the house in a divorce.

[GigiBronz]

oh do feck off!

most couples with kids survive quite well on <£50k combined.

Average household budget is £30k.

https://www.nimblefins.co.uk/average...-budget#budget


If you can't put money away on £100k then you seriously need to examine your spending.

actually you might be better of with <50k + benefits. and 2 tax allowances cumulated are always better than one.

2 people on < 50k cumulated + benefits are probably better off than 1 100k sole taxpayer.

this society is screwed and even 100k in london is not a lot. GhostofTarbera , can you pitch in with this?

[vetran]

actually you might be better of with <50k + benefits. and 2 tax allowances cumulated are always better than one.

2 people on < 50k cumulated + benefits are probably better off than 1 100k sole taxpayer.

this society is screwed and even 100k in london is not a lot. GhostofTarbera , can you pitch in with this?

do supply some facts. Plenty of people I know have sole earners on less than £50k and joint earnings less than £50k.

£100k after take home is £67k not a bad screw.

Earn £100,000 in 2021/2022 and you'll take home £66,693. This means £5,558 in your pocket a month.

Over the year you'll pay £27,428 income tax and £5,879 in National Insurance.