Tax clampdown on plumbers

[Churchill]

66pc: the true level of tax paid by higher earners - Telegraph


Workers in the highest tax brackets are paying as much as 66 per cent on their earnings as they are hit by large income tax rates while losing out on valuable allowances, a report published today suggests.


Although the headline rates suggest that those earning more than £40,000 are taxed at 40 per cent, they actually end up paying 49 per cent because they face higher National Insurance contributions and other levies.


Those earning between £100,000 and £114,950 are worst hit, surrendering 66.6 per cent of their upper earnings because they also lose valuable tax-free allowances. This “super rate” of tax is thought to hit about 25,000 people. The best-paid Britons, earning more than £150,000 annually and facing the new 50p higher rate of tax, will actually lose 57.8 per cent of extra earnings.


Even basic tax payers will be charged 40.9 per cent on their pay rises, according to research by the Centre for Policy Studies.



It's only "fair".

If only there was a way to legally mitigate one's tax liabilities...

[DimPrawn]

66pc: the true level of tax paid by higher earners - Telegraph


Workers in the highest tax brackets are paying as much as 66 per cent on their earnings as they are hit by large income tax rates while losing out on valuable allowances, a report published today suggests.


Although the headline rates suggest that those earning more than £40,000 are taxed at 40 per cent, they actually end up paying 49 per cent because they face higher National Insurance contributions and other levies.


Those earning between £100,000 and £114,950 are worst hit, surrendering 66.6 per cent of their upper earnings because they also lose valuable tax-free allowances. This “super rate” of tax is thought to hit about 25,000 people. The best-paid Britons, earning more than £150,000 annually and facing the new 50p higher rate of tax, will actually lose 57.8 per cent of extra earnings.


Even basic tax payers will be charged 40.9 per cent on their pay rises, according to research by the Centre for Policy Studies.



It's only "fair".

[DimPrawn]

Who do these plumbers think they are?

If everyone dodged their taxes, who would pay for this?

[Churchill]

Is it known that doctors take cash?

Yep, in fact it's mentioned in one of the Eagles songs.
(Life in the Fast Lane)

[AtW]

The article seems to suggest that the nice high earning Doctors have been spared the heavy handed tactics as no mention of raids/arrests of them:

Is it known that doctors take cash?

[Clippy]

The article seems to suggest that the nice high earning Doctors have been spared the heavy handed tactics as no mention of raids/arrests of them:

"HMRC have had limited success with the numbers coming forward in the recent medical and plumbers disclosure opportunities, so they are getting tough with those who did not register or disclose," said Gary Ashford of the CIOT.

[DimPrawn]

Have they tried bleeding the radiators?

[AlfredJPruffock]

If we don't come down hard on them plumbers ....

An economic master stroke by the Government - up and at them ladz.

[zeitghost]

Good luck to the plumbers I say.

As long as they stay out of the Watergate.

The President is not a crook.

[northernladuk]

HMRC having a blanket clamp down on plumbers...

Linky
BBC News - Unpaid tax crackdown: Five plumbers arrested by HMRC

Quote of the article for me is..

However, HMRC believed some registered plumbers and gas fitters in the UK were moonlighting - being paid cash in hand and failing to pay tax.

You have to be kidding me? Forget believe... they should know.. everyone else on earth does.. and some are?!?!? SOME???

Jesus, if HMRC are so out of touch with the reality out there we might be safe afterall.