Re: Where do you fit in to the UK income distribution.. : Mon Jan 30, 2012 9:58 pm  

Dally wrote:

Yes. It's about to net of tax income you take.

where does it mention CT,CGT etc?

seriously Dally, it's about time you packed in, you make Damo look clever.

Re: Where do you fit in to the UK income distribution.. : Mon Jan 30, 2012 10:06 pm  

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

Re: Where do you fit in to the UK income distribution.. : Mon Jan 30, 2012 10:09 pm  

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.

Re: Where do you fit in to the UK income distribution.. : Mon Jan 30, 2012 11:25 pm  

I always thought I was skint but now it's official.

[TimperleySaint]

Re: Where do you fit in to the UK income distribution.. : Tue Jan 31, 2012 8:40 am  

Quite surprised actually...

"you have a higher income than around 88% of the population - equivalent to about 53.4 million individuals"

Re: Where do you fit in to the UK income distribution.. : Tue Jan 31, 2012 10:02 am  

Top 5% for me but living in London, I sometimes do not feel like it.

Re: Where do you fit in to the UK income distribution.. : Tue Jan 31, 2012 11:31 am  

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?

Re: Where do you fit in to the UK income distribution.. : Tue Jan 31, 2012 11:33 am  

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.

Re: Where do you fit in to the UK income distribution.. : Tue Jan 31, 2012 11:55 am  

I can only assume that the IFS have allowed the child of a board member to conduct some sort of school project

[DaveO]

Re: Where do you fit in to the UK income distribution.. : Tue Jan 31, 2012 12:58 pm  

cod'ead wrote:

I can only assume that the IFS have allowed the child of a board member to conduct some sort of school project

Looks like it!

Mind you according to that site I need to shoot the kids. Two kids over 13 have quite a dramatic effect on my standing by knocking off just over 20%