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Apparently there's a 15.3% tax rate just for showing up and owning your own business
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Can that be right?
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Say it isn't so.
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PS. Taxes are a pretty dry subject, so I thought I'd spice it up with as many emoticons as possible.
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caskwith wrote:That sounds like some complicated shit, you need to move over here, much simpler tax system for those who are self employed. Keep track of income, keep track of expenses, write both on tax return, pay income tax on anything over the basic threshold. Simples!
Is that £100 in addition to your basic tax free allowance?DMI wrote:When I was doing the historical leatherwork full time I was able to claim for all sorts of odd things like muskets, a cannon, my 'work wear' included chain mail and some armour.
Now as a full time care giver I can earn £100 per week tax free.
David.
DMI wrote:If I was on the mainland no, but we have all sorts of odd rules over here which can be confusing as hell when you are used to mainland taxes etc.
The way it works is I receive £36 a week to care for Sheena on top of that I have the option of Income Support of £46 per week or I can take a tax break of an extra £100 per week or work 16 hours as an employee before it affects the I.S. I cannot guarantee being able to go out to work and I thought I could earn more than £46 so I took the tax break.
The idea is to reward people who give up full time work to care for someone and save the government a few million in wages or residential care.