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Post subject: Re: Where do you fit in to the UK income distribution..

Posted: Mon Jan 30, 2012 9:20 pm

Dally

International Chairman

Joined: Dec 22 2001
Posts: 14845

Horatio Yed wrote:I wish i felt as rich as this is telling me

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Post subject: Re: Where do you fit in to the UK income distribution..

Posted: Mon Jan 30, 2012 9:21 pm

Standee

In The Arms of 13 Angels

Joined: Apr 03 2003
Posts: 37503

Dally wrote:You're supposed to put your net income in (not gross).

I did, and as I said, it's bollox.

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Post subject: Re: Where do you fit in to the UK income distribution..

Posted: Mon Jan 30, 2012 9:22 pm

Wire Yed

In The Arms of 13 Angels

Joined: Mar 15 2009
Posts: 20628

It's been fun.

Last edited by Wire Yed on Mon Jan 30, 2012 10:47 pm, edited 1 time in total.

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Post subject: Re: Where do you fit in to the UK income distribution..

Posted: Mon Jan 30, 2012 9:24 pm

Dally

International Chairman

Joined: Dec 22 2001
Posts: 14845

I came out on ahead of ca.69% of households, which seems low when according to gross income surveys I would be much higher than that. However, Mrs D doesn't work.

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Post subject: Re: Where do you fit in to the UK income distribution..

Posted: Mon Jan 30, 2012 9:37 pm

Dally

International Chairman

Joined: Dec 22 2001
Posts: 14845

cod'ead wrote:I wonder why they exclude rent or mortgage payments from the calculations?

Because not everyone pays them. Council tax is a tax so it is deducted as is income tax and NI. Vat is, in theory, an optional tax on spending and so is excluded.

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Post subject: Re: Where do you fit in to the UK income distribution..

Posted: Mon Jan 30, 2012 9:45 pm

Standee

In The Arms of 13 Angels

Joined: Apr 03 2003
Posts: 37503

Dally wrote:Because not everyone pays them. Council tax is a tax so it is deducted as is income tax and NI. Vat is, in theory, an optional tax on spending and so is excluded.

does that work in your lunatic world?

not everyone pays TAX and NI, some pay only Corporation Tax. And when did you last manage to tactically avoid VAT?

I do hope those hallucinogenics are VAT free Dally, I really do.

It's a totally garbage and jaundiced piece of "investigation", I may as well ask my cat what she thinks of foreign policy and then take six weeks to try and understand what "miaow" means in this context.

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Post subject: Re: Where do you fit in to the UK income distribution..

Posted: Mon Jan 30, 2012 9:51 pm

Dally

International Chairman

Joined: Dec 22 2001
Posts: 14845

Standee wrote:does that work in your lunatic world?

not everyone pays TAX and NI, some pay only Corporation Tax. And when did you last manage to tactically avoid VAT?

I do hope those hallucinogenics are VAT free Dally, I really do.

It's a totally garbage and jaundiced piece of "investigation", I may as well ask my cat what she thinks of foreign policy and then take six weeks to try and understand what "miaow" means in this context.

I was just explaining the logic, not commenting on its validity. If someone just pays Corporation Tax that's irrelevant. This concerns personal incomes - so relates to the amount drawn from such an individual's company (net of personal taxes payable - if any).

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Post subject: Re: Where do you fit in to the UK income distribution..

Posted: Mon Jan 30, 2012 9:53 pm

Standee

In The Arms of 13 Angels

Joined: Apr 03 2003
Posts: 37503

Dally wrote:I was just explaining the logic, not commenting on its validity. If someone just pays Corporation Tax that's irrelevant. This concerns personal incomes - so relates to the amount drawn from such an individual's company (net of personal taxes payable - if any).

so if I take 10k at PAYE and 1m in dividends (and pay 22% as CT on those) it's irrelevant?

like I said, lunatic.

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Post subject: Re: Where do you fit in to the UK income distribution..

Posted: Mon Jan 30, 2012 9:55 pm

sally cinnamon

Club Coach

Joined: Oct 12 2004
Posts: 16274

Dally wrote:You're supposed to put your net income in (not gross).

Yes sorry for being slightly misleading by not making this clear. This website might help convert gross to net: http://listentotaxman.com/

cod'ead wrote:I wonder why they exclude rent or mortgage payments from the calculations?

I think the idea is it shows how much you have available to spend in relation to the rest of the population, including on housing costs ie those with more can afford more upmarket properties. Of course that doesn't take into account regional differences in housing costs but this is just a simple rough and ready guide of where you fit in to the income distribution rather than how well off you feel.

Also I think the reason most people find themselves higher up the income distribution than they expected to be is that a large proportion of the population is either retired and on a pension income which is usually lower than the average wage, or on benefits or on low income/part time earnings.

Dally wrote:You're supposed to put your net income in (not gross).

Yes sorry for being slightly misleading by not making this clear. This website might help convert gross to net: http://listentotaxman.com/

cod'ead wrote:I wonder why they exclude rent or mortgage payments from the calculations?

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