Post subject: Re: Where do you fit in to the UK income distribution..
Posted: Mon Jan 30, 2012 10:06 pm
cod'ead
International Chairman
Joined: May 25 2002 Posts: 37704 Location: Zummerzet, where the zoider apples grow
sally cinnamon wrote:Yes sorry for being slightly misleading by not making this clear. This website might help convert gross to net: http://listentotaxman.com/
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.
So it is a load of bollox then
Thanks for the link though
sally cinnamon wrote:Yes sorry for being slightly misleading by not making this clear. This website might help convert gross to net: http://listentotaxman.com/
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.
So it is a load of bollox then
Thanks for the link though
The older I get, the better I was
Advice is what we seek when we already know the answer - but wish we didn't
I'd rather have a full bottle in front of me than a full-frontal lobotomy ------------------------------------------------------------------------------------------------------------ kirkstaller wrote: "All DNA shows is that we have a common creator."
cod'ead wrote: "I have just snotted weissbier all over my keyboard & screen"
------------------------------------------------------------------------------------------------------------ "No amount of cajolery, and no attempts at ethical or social seduction, can eradicate from my heart a deep burning hatred for the Tory Party. So far as I am concerned they are lower than vermin." - Aneurin Bevan
Post subject: Re: Where do you fit in to the UK income distribution..
Posted: Mon Jan 30, 2012 10:09 pm
Dally
International Chairman
Joined: Dec 22 2001 Posts: 14845
Standee wrote: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.
If you took a million in dividends you'd be paying CT at a higher rate. You'd also be paying income tax on the dividend - the majority at 42.5% less the tax credit. So, you'd input your net pay less PAYE/NI theron plus you million pounds less tax - without calculating should be in the 650,000 pounds + area. The CT is irrelevant.
Post subject: Re: Where do you fit in to the UK income distribution..
Posted: Tue Jan 31, 2012 11:31 am
Dally
International Chairman
Joined: Dec 22 2001 Posts: 14845
Standee wrote:where does it mention CT,CGT etc?
seriously Dally, it's about time you packed in, you make Damo look clever.
It was you that mentioned CT - by virtue of your total inability to grasp what the website is all about. I am right. You are wrong. Is that simple enough for you?
Post subject: Re: Where do you fit in to the UK income distribution..
Posted: Tue Jan 31, 2012 11:33 am
Dally
International Chairman
Joined: Dec 22 2001 Posts: 14845
Is the distribution in the website based on the UK actual or on the self-selecting group of respondees? If the former, I still think alot of people are putting in gross pay.
Post subject: Re: Where do you fit in to the UK income distribution..
Posted: Tue Jan 31, 2012 11:55 am
cod'ead
International Chairman
Joined: May 25 2002 Posts: 37704 Location: Zummerzet, where the zoider apples grow
I can only assume that the IFS have allowed the child of a board member to conduct some sort of school project
The older I get, the better I was
Advice is what we seek when we already know the answer - but wish we didn't
I'd rather have a full bottle in front of me than a full-frontal lobotomy ------------------------------------------------------------------------------------------------------------ kirkstaller wrote: "All DNA shows is that we have a common creator."
cod'ead wrote: "I have just snotted weissbier all over my keyboard & screen"
------------------------------------------------------------------------------------------------------------ "No amount of cajolery, and no attempts at ethical or social seduction, can eradicate from my heart a deep burning hatred for the Tory Party. So far as I am concerned they are lower than vermin." - Aneurin Bevan
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