QuoteOriginally posted by: PaulIs this a trick question? Until this April UK personal tax rate was 50% (plus NI). Now it's 45%. There's something offputting about paying half your income to the government, something that takes a while to recover from. Alistair Darling's last, vindictive, act as chancellor was to introduce the 50% tax rate. I met him a few months ago, and was tempted to explain how human beings react to disincentives. But in person he was so weak, devoid of any personality, that I resisted the temptation...it would have been too easy to hurt him.PI guess you might need to seek advice from a tax expert if you find yourself paying such tax rates.Such rates are typical at the high end of personal income taxation, but typically affects a minority of well paid people such as CEOs, doctors etc. The rest who might be earning income at such levels, its usually earned from sources of income that are taxed exclusively at lower flat rates, like dividends, interest, capital gains, royalties etc

There are pros and cons of different business structures, part of which is tax. And without a crystal ball you won't necessarily always have the optimum structure. And you can't just change structures at will without immediate tax consequences.P

QuoteOriginally posted by: PaulIs this a trick question? Until this April UK personal tax rate was 50% (plus NI). Now it's 45%. There's something offputting about paying half your income to the government, something that takes a while to recover from. Alistair Darling's last, vindictive, act as chancellor was to introduce the 50% tax rate. I met him a few months ago, and was tempted to explain how human beings react to disincentives. But in person he was so weak, devoid of any personality, that I resisted the temptation...it would have been too easy to hurt him.Pthe 50% tax rate was a Gordon Brown idea. Darling was just a grey haired puppet with GB's hand up his arse.

Tax rates Denmark are even higher AFAIK but services are good I suppose.

QuoteOriginally posted by: CuchulainnTax rates Denmark are even higher AFAIK but services are good I suppose.not an expert but it seems to be around 45% ?

QuoteOriginally posted by: daveangelQuoteOriginally posted by: CuchulainnTax rates Denmark are even higher AFAIK but services are good I suppose.not an expert but it seems to be around 45% ?It's more around 57%. It's not the whole story however. Cars are taxed at 180% for example...

QuoteOriginally posted by: daveangel QuoteOriginally posted by: PaulIs this a trick question? Until this April UK personal tax rate was 50% (plus NI). Now it's 45%. There's something offputting about paying half your income to the government, something that takes a while to recover from. Alistair Darling's last, vindictive, act as chancellor was to introduce the 50% tax rate. I met him a few months ago, and was tempted to explain how human beings react to disincentives. But in person he was so weak, devoid of any personality, that I resisted the temptation...it would have been too easy to hurt him.Pthe 50% tax rate was a Gordon Brown idea. Darling was just a grey haired puppet with GB's hand up his arse.And now they're talking about bringing back the puppet but with a different puppetmaster!P

QuoteOriginally posted by: deimanteRCars are taxed at 180% for example...Do you pay that? Do you come from a long line of house pets?I guess anyone from Europe with any nuts would have run off and colonized somewhere. Nothing left but the genetic heirs of natural lords and serfs.

QuoteOriginally posted by: deimanteRQuoteOriginally posted by: daveangelQuoteOriginally posted by: CuchulainnTax rates Denmark are even higher AFAIK but services are good I suppose.not an expert but it seems to be around 45% ?It's more around 57%. It's not the whole story however. Cars are taxed at 180% for example...And Danes always moan about the fact that services are better elsewhere. From my experience not sure services are better per se, but public transport is far cheaper and the bread is far better

QuoteOriginally posted by: farmerQuoteOriginally posted by: deimanteRCars are taxed at 180% for example...Do you pay that? Do you come from a long line of house pets?I guess anyone from Europe with any nuts would have run off and colonized somewhere. Nothing left but the genetic heirs of natural lords and serfs.London is the 3rd biggest Danish city I seem to remember.

QuoteOriginally posted by: rmaxQuoteOriginally posted by: farmerQuoteOriginally posted by: deimanteRCars are taxed at 180% for example...Do you pay that? Do you come from a long line of house pets?I guess anyone from Europe with any nuts would have run off and colonized somewhere. Nothing left but the genetic heirs of natural lords and serfs.London is the 3rd biggest Danish city I seem to remember.1. Copenhagen2. Aarhus?

QuoteOriginally posted by: rmaxQuoteOriginally posted by: deimanteRQuoteOriginally posted by: daveangelQuoteOriginally posted by: CuchulainnTax rates Denmark are even higher AFAIK but services are good I suppose.not an expert but it seems to be around 45% ?It's more around 57%. It's not the whole story however. Cars are taxed at 180% for example...And Danes always moan about the fact that services are better elsewhere. From my experience not sure services are better per se, but public transport is far cheaper and the bread is far better your tax dollars go to bread ?or you're saying that the bread is good despite the best efforts of the Danish socialists

A slightly edited version of a famous exchange from the history of cinema:?Are there no prisons???Plenty of prisons,? said the gentleman, laying down the pen again.?And the Union workhouses.? demanded Wilmott. ?Are they still in operation???Both very busy, sir.??Oh. I was afraid, from what you said at first, that something had occurred to stop them in their useful course,? said Wilmott. ?I?m very glad to hear it.??Under the impression that they scarcely furnish Christian cheer of mind or body to the multitude,? returned the gentleman, ?a few of us are endeavouring to raise a fund to buy the Poor some meat and drink, and means of warmth. We choose this time, because it is a time, of all others, when Want is keenly felt, and Abundance rejoices. What shall I put you down for???Nothing!? Wilmott replied. I demand a flat tax. And no minimum wage.?You wish to be anonymous???I wish to be left alone,? said Wilmott . ?Since you ask me what I wish, gentlemen, that is my answer. I don?t make merry myself at Christmas and I can?t afford to make idle people merry. I help to support the establishments I have mentioned-they cost enough; and those who are badly off must go there.??Many can?t go there; and many would rather die.??If they would rather die,? said Wilmott , ?they had better do it, and decrease the surplus population.?

A common miconception about Scrooge

Thank you for the encouragement to learn about the history of income tax!From Wikipedia:"Pitt's income tax was levied from 1799 to 1802, when it was abolished by Henry Addington during the Peace of Amiens. Addington had taken over as prime minister in 1801, after Pitt's resignation over Catholic Emancipation. The income tax was reintroduced by Addington in 1803 when hostilities recommenced, but it was again abolished in 1816, one year after the Battle of Waterloo. The United Kingdom income tax was reintroduced by Sir Robert Peel in the Income Tax Act 1842. Peel, as a Conservative, had opposed income tax in the 1841 general election, but a growing budget deficit required a new source of funds. The new income tax, based on Addington's model, was imposed on incomes above £150 (£11,468 as of 2013)." Rates were less than 10%."A Christmas Carol" was published in 1843!"The highest rate of income tax peaked in the Second World War at 99.25%. It was slightly reduced after the war and was around 90% through the 1950s and 60s. In 1971 the top-rate of income tax on earned income was cut to 75%. A surcharge of 15% on investment income kept the top rate on that income at 90%. In 1974 this cut was partly reversed, and the top rate on earned income raised to 83%. With the investment income surcharge this raised the top rate on investment income to 98%, the highest permanent rate since the war. This applied to incomes over £20,000 (£155,247 as of 2013). Margaret Thatcher, who favoured indirect taxation, reduced personal income tax rates during the 1980s. In the first budget after her election victory in 1979, the top rate was reduced from 83% to 60% and the basic rate from 33% to 30%. The basic rate was also cut for three successive budgets - to 29% in the 1986 budget, 27% in 1987 and to 25% in 1988. The top rate of income tax was cut to 40% in the 1988 budget."And then the highest rate went back up to 50% thanks to Labour and the politics of envy.I think Scrooge would have gone offshore if he'd been around in the 20th and 21st centuries! Or at least invoiced via Luxembourg. P