Clean It Up
UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: Tosh on March 15, 2007, 03:41:20 pm
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Last night, David of St Ives had two shandies and got all argumentative about tax level thresholds.
Anyway, he's bet a 100 quid (we shook on it in the presence of Shiner) that the 40% tax rate starts at 24 or 25K.
I reckon it's a lot higher!
So whose right, him or I? ;D
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£33,300
Well done Tosh ;D
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DITTO
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I've just sent Dave a text telling him he's lost the bet and that I'll email him payment instructions.
Do you reckon he'll cough up?
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It did use to be 25k. Inflation and the conservatives raised it. It jumped to 30k around the 1995 mark.
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Nearly Guys but the 40% tax bracket starts at £33,301
Although if he's been paying 40% for his earnings above 25k you should both be quids in especially when he reclaims his overpaid tax ;D ;D
Alistair
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Last night, David of St Ives had two shandies and got all argumentative about tax level thresholds.
Anyway, he's bet a 100 quid (we shook on it in the presence of Shiner) that the 40% tax rate starts at 24 or 25K.
I reckon it's a lot higher!
So whose right, him or I? ;D
I was offered the opportunity for the bet as well but I really did not want to take his money from him. If he wishes to donate a tenner to a charity of his choice in lieu of me refusing the bet he's welcome to do so.
Take a look at
http://www.bytestart.co.uk/content/taxlegal/9_15/personal-income-tax-rates.shtml
where it shows that the starting rate for 40% is £32,400. However, take a closer look at those figures as they regard the £4,895 personal allowance as zero. Therefore, you have to add £4,895 to that £32,400 which gives us £37,725. I did say it was around £35,000 - £37,000 in the pub but wasn't sure of the exact figure but it was slightly higher than I thought.
Sorry Dave but at least I did what I felt was the right thing in not taking the bet.
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Sorry Dave but at least I did what I felt was the right thing in not taking the bet.
I wish I did the right thing and upped it to two-hundred-quid! ;D
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Shiner
Those are figures for 05-06. You dont add your personal allowance to it, you pay 40% above £33300.
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Last night, David of St Ives had two shandies and got all argumentative
I have to, spent the night in a bar with David (Windex) he cant hold his drink ;D not that I was going have a argument with him, he's a big lad :o
http://www.hmrc.gov.uk/rates/it.htm
Andy
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Shiner
Those are figures for 05-06. You dont add your personal allowance to it, you pay 40% above £33300.
It was indeed last years numbers I linked to. Sorry about that. However, I think that I may be right about the other bit if you take a look though. Maybe I've read it wrongly.
Take a look at
http://www.hmrc.gov.uk/rates/it.htm
The personal allowance is £5,225.
If you scroll down the page you will see another table.
It shows that the 10% tax rate applies from £0 - £2,150 and 22% at
£2,151 - £33,300. It looks to me that the £33,301 mentioned is the first £33,301 of taxable income i.e. £33,301 over and above the £5,225 personal allowance. After all, no-one is taxed until they have earned £5,225 yet the 10% rate is shown as applying from £0. The way I read it is that the 40% would not kick in until your profit margin hits £38,526 (£33,301 + £5,225).
Notice also that the table refers to "Taxable Bands Allowances" (my emphasis on "taxable"). I need to check this with my accountant. It won't make a difference this year but if my plans work out, it may make a difference next year.
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Last night, David of St Ives had two shandies and got all argumentative
I have to, spent the night in a bar with David (Windex) he cant hold his drink ;D not that I was going have a argument with him, he's a big lad :o
http://www.hmrc.gov.uk/rates/it.htm
Andy
Same link as I've just quoted. Posted mine before I saw yours Andy.
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Dave was doing one of his wind ups. ;D
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Tosh
I feel like a right prat , I had one of those I am absolutely convinced moments.
Its just as well i wasnt in the who wants to be a millionaire hot seat.
I am so annoyed with myself, because usually if i dont know about something i keep my mouth shut but on this occasion i dont know what the hell i was thinking of, maybe to many beers.
Anyway it was a pleasure to spend the night in your company so £100 was cheap.
Just send me the details of where to send the cheque and i will post it this evening.
Dave
p.s
You little s*** ;D
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:oTosh seeing as we are best mates now ;D if he dont cough up we go round and make him ;D :o "£25 for you and £75 for me ;D,
just had a thought :o hes at Blackpool I feel some drinks coming on :o ;D
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You should of seen him Terry trying to keep a low profile ;D
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You should of seen him Terry trying to keep a low profile ;D
Ahem! I only kept my back to Terry, not 'cos I was scared (and trying to hide my slanty-eyes for fear of being recognised), but 'cos I was talking to David of St Ives. Honest ( ;)).
It was quite a shocker when David grinned and shouted, 'Hey, Terry, have you met Tosh yet?' and pointed me out. The bugger!!!
Tosh
I feel like a right prat , I had one of those I am absolutely convinced moments.
Dave,
mate you provided some class entertainment for us there; I love a bloke whose adamant he's right; particularly when he's blatantly wrong.
You can keep the hundred-quid also. It was just a drunken bet; a bit of fun. Honest. I couldn't take it. The next time we meet; just keep me in 'beer'! ;D
Also tell Debbie I fancy her; you're a lucky bloke; though she probably could tell by the way she kept on having to wipe my drool from her trousers.
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;D Tosh if you dont want the dosh I will ;D David thats it your at the bloody bar first at blackpool ;D
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;D Tosh if you dont want the dosh I will ;D David thats it your at the bloody bar first at blackpool ;D
Terry, since you're a Southerner, Dave won't have to buy you too many beers will he?
Before you're sick-all-over-the-place and have to be taken to bed!
I know what you 'Shandy Drinkers' are like.
Puffs the lot of you!
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Glad thats sorted, perhaps now you can check your e-mails.
Anyway it was a pleasure to spend the night in your company so £100 was cheap.
Dave
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;D you north guys got this fing about us souarf guys ;D he might not know it
yet he will be getting me Black russian, ;DTosh I take you on,with the black russians ;D none of that p :-X :-X water have a proper drink :o ;D
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;D you north guys got this fing about us souarf guys ;D he might not know it
yet he will be getting me Black russian, ;DTosh I take you on,with the black russians ;D none of that p :-X :-X water have a proper drink :o ;D
I've done the black (and white) Russian thing when I was younger and thought it was 'trendy' at the time.
Considering it's a sweet-tasting drink consisting of Vodka, Tia Maria and Coke; don't you think that's a bit of a 'girly drink'?
Where-as ten pints of strong lager is more manly?
Don't you think?
I'd be too embarrased to order a Black Russian from a bar nowadays, just in case the barman thought I was gay!
;D
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Neil
No e-mails , did you send one
Tosh
you are a gent, Debbie says she fancies you too but not as much as Ian does, he told me when he was in a stuper.
It all comes out when you are drunk.
Dave
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;D Tosh your treading a fine line our friend ship is starting to wobble again :o
any way my 2 drinks in one is stronger ::)