By Sophia in Uncategorized on October 24 2011
In life there are many big questions. Is there a God? Where did we come from? Is there other forms of life on other planets? This question isn’t quite in the same bracket as these big questions, and is more about the way that we behave without even wondering. Have you ever wondered why we actually pay tax?
Imagine if you can, you work, but the government take some of what you earn, why? Do you want to give them money out of what you are earning? My guess would be no. So why do you do it?
When you were a child and you had to do jobs round the house to get pocket money. Did you pay tax on the pocket money which you earned?
By Sophia in Uncategorized on October 21 2011
A friend of mine made me aware of a rather interesting fact, and that is that people on benifits, such as unemployed people are richer than students.
The thought made me laugh. How can some of the people on the dole, who have no ambition to work, have more money in their pocket than some students who want to better themselves and get a good job.
The conversation came about when my friend was on the train, worried about their financial situation. When they saw an old school friend who I have spoken to many times. The person has told me flat out they have no ambition to work, and have barely worked a day in the last 8 years since leaving high school. Yet, when my friend saw this old school mate who is claiming the dole, they were the one who had been out in town, stinking of booze from the night before or early that morning.
Ironic?
By Sophia in Uncategorized on October 20 2011
When I was a student I would go as far as saying that people who had jobs used to pretty much tut at me as a student because I was apparently a ‘tax dodger’.
The uneducated morons who said this to me literally had no idea what they were talking about as tax is not worked out based on whether you are a student or not. Its actually based on how much you earn. Its just the fact most students dont earn over the £7k mark that they are branded in this way.
By Sophia in Uncategorized on October 17 2011
Working out what salary you want to be on can be done very easily with a tax calculator on the internet. I have used it in the past to work out how much I want to be on after all deductions and so I know what figure will be ending up in my account come pay day.
£14,500 a year - £1000 a month
£23,000 a year - £1500 a month
£32,000 a year - £2000 a month.
When looking at the figures you can see exactly how the taxing works. When you are on £14,500 a year and earning £1000 a month. If you decide you want to be earning double that, you need to actually double your salary plus £3,000.
By Sophia in Uncategorized on October 17 2011
I had an interesting conversation with one of my friends this weekend about salary. Neither of us are particularly driven by money, we both can appreciate it. But do not live our lives thriving to have a large number in our banks.
The big question of ‘At What Salary Should You Have To Pay Tax?’ came about when my friend told me his girlfriend earns ‘peanuts’ working in a travel agents. I thought about this and have done some research using a tax calculator. If she were on the minimum wage of £6.08 working 37.5 hours a week. Her yearly salary would be £11,856, of this you would have to pay £876.20 in tax. Meaning you come out with a yearly salary of just under £10,500.
The tax free allowance in the UK is currently £7,475. Should this be increased so that people on the lowest wage dont need to pay tax?
By Sophia in Uncategorized on June 16 2011
Filling in your tax forms is a really frustrating bit of business. If you aren’t really keen on admin at the best of times then doing your tax forms is likely is likely to be the sort of tax that you truly dread. That’s why you deserve to treat yourself to a bit of entertainment and a bit of fun.
Doing your tax often makes you painfully aware of the money you don’t have, so why not consider online bingo as a way to unwind? Bingo gives you the chances to win big money that could banish all those demons that you are constantly reminded of when thinking about the tax you pay and the money you earn.
Mecca Bingo is one of the most famous bingo sites on the internet. This is because it established itself as a favourite when bingo was predominantly played in bingo halls and the internet version of the game hadn’t really taken off. Signing up to Mecca Bingo could be the perfect way to help you chill out when matters relating to tax get too frustrating.
You never know, you could end up winning a jackpot that sorts out all your money issues for quite some time!
By Sophia in Uncategorized on April 11 2011
The new bills have been sent out again and if you’re like me you and pay by direct debit, it’s been nice to have the last 2 months off paying a bill.
Also, like me I pay £95 a month which seems extotionate in my eyes , especially when I have do wash all my own bottles, cans and tins out before they will be taken away! So what am I actually paying for? It obviously depends what area you live, what size house you own or rent and if you live on your own you do get a ’single persons’ discount!
A little research shows that our council tax bill includes paying for your local services such as planning, transport, highways, police, fire, libraries, leisure and recreation, rubbish collection and disposal, environmental health and trading standards.
By Sophia in Uncategorized on April 11 2011
George Osborne has announced in this year budget that tax incentive schemes have been introduced to help small business investors and Entrepreneurs step onto the ladder of success.
“Company owners will benefit from a doubling of the lifetime limit on “entrepreneurs’ relief” to £10m from April 6. The relief limits capital gains tax (CGT) to 10pc on the sale of business assets under certain conditions.
Changes to investment limits and qualifying criteria will allow more companies to attract up to £10m a year of equity investment through the Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCTs), both tax-efficient investment schemes, from April 2012, subject to EU state aid approval.
The rate of income tax relief available under EIS will rise from 20pc to 30pc, while the personal annual investment allowance will double in 2012 to £1m.
Companies with as many as 250 employees and gross assets of up to £15m will qualify, up from the current level of 50 staff and gross assets of £7m.”
By Susan in News on August 25 2010
Paddy Power may be known as the Irish bookmaker that doesn’t take itself too seriously, but the company has warned that this may be about to change if plans for online gambling taxation is made into a reality.
The bookie has said that the proposed 750 new jobs it was looking to create may be put on hold should the gambling tax be enforced in Ireland.
Paddy Power’s chief executive, Patrick Kennedy, explained:
“We don’t have an issue with paying betting taxation. Our issue is if we have to pay it solely because we employ people in Ireland.”
The bookie has enjoyed incredible success over the past few years with many UK customers switching from rival operators to bet on the football World Cup in June.
By Matthew in News on August 23 2010
Despite suffering a drop in admission figures, Cineworld profits have actually increased, thank to moviegoers coughing up more dosh to see their favourite films.
The higher profit levels and box office takings between January and July 2010 have been put down to a rise in ticket prices to see 3D hits such as Avatar.
The average ticket price was £4.93, up from £4.59 last year and helped to offset a fall in admissions which were just 22.7 million, although this low figure has been attributed in part to the World Cup in South Africa.
The growing number of 3D films should ensure the second half of the year is a positive one, with 252 out of Cineworld’s 268 screens now being 3D-enabled.
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