Is this the amount I need to keep earning the same money?
8% for the corporation tax increase (81/75 - 1) and 10% for inflation.
8% for the corporation tax increase (81/75 - 1) and 10% for inflation.
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You are getting 5% like everyone else.
"You’re just a bad memory who doesn’t know when to go away" JR -
No ambition man.Originally posted by hugebrain View Post
…Maybe we ain’t that young anymoreComment
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I am asking for 33%, but was just curious to know what the breakeven point is since I’m not very good at percentages.Originally posted by WTFH View Post
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Since we don't know your finances we can't answer.Originally posted by hugebrain View PostOriginally posted by MaryPoppinsOriginally posted by vetranComment
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33% or you'll walk?
I'm assuming you're not after serious responses given you've posted in General.Comment
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When has that every stopped us before?Originally posted by d000hg View Post…Maybe we ain’t that young anymoreComment
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i was actually. Did the corporation tax just go from 19% to 25%? If it did, does that mean I need to charge 8% more to break even?Originally posted by Pondlife View Post
But feel free to add some banter instead if you don’t know the answer.
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The corporation tax rate is tapered between £50,000 to £250,000Originally posted by hugebrain View Post
only above £250,000 is it 25%merely at clientco for the entertainmentComment
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It was FAR better under Gordon Brown -Originally posted by eek View Post
“For companies with profits between £300,001 and £1.5 million, a system of relief operates, such that the average tax rate for these companies is gradually brought into line with the main rate of corporation tax (which applies to profits above £1.5 million per year). Kenneth Clarke announced in the November 1996 Budget that the small companies’ rate would be reduced to 23% from April 1997, but this was superseded by Gordon Brown’s July 1997 Budget announcement of a cut to 21%, which was to be backdated to April 1997.”
He even had 10% rate!
Source - https://ifs.org.uk/sites/default/fil...8/08chap11.pdf
So 20 years later with massive inflation taper relief starts at 50k
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