Look it's a simple fact that a business profit is revenue minus costs that include taxable salaries.  So you can't pay 40% income tax + NIC on the profits (that can be taxed at 25% over 250k +dividends can be taxed at 39.4%)

And we haven't even got to your bizarre supposition that all that 70% goes to pay people for doing nothing.

You got your maths wrong Nick and have reacted as usual to false assertions being pointed out and pointed out far more politely than you challenge others.

 

Quote from: Unlucky4Sum on October 05, 2024, 11:03:32 AMNext up you can't be paying 40% income tax + NIC on profits taxed as Corporation Tax.  One or the other.

What a load of rubbish, it's not even worth debating it with you. 

Sunak/Hunt went back to embracing the office of Budget Responsibility and she'd already been forced to reverse her 'borrow more money for tax cuts for her mates' plan of that idiot mini budget.

She didn't crash the economy but she and Kwarteng set it at speed towards a solid brick wall. A crash was averted, just.

Quote from: Unlucky4Sum on October 05, 2024, 10:58:11 AMFresh food at affordable prices.  And FWIW a fair amount of the electricity we use every morning.

I need to go to Tesco today, I will take some snaps of the non-EU priced food on the shelves... All reasonably priced and fresh. Most of the seafood on the shelves is from Costa Rica and Vietnam, on the shelves just as fresh as U.K. caught fish. 

Quote from: Nick on October 05, 2024, 10:58:12 AMEven at 2% I am still paying over 70% in tax, something you argued doesn't happen. So proving my OP is correct.

You need to get a new accountant then.  That is if you're really paying 70% tax for the cleaning cars example of your OP

Next up you can't be paying 40% income tax + NIC on profits taxed as Corporation Tax.  One or the other.

Quote from: Unlucky4Sum on October 05, 2024, 01:24:14 AMSo her and her sidekick saying they were disregarding the office of budget responsibility while simulataneously creating a government deficit black hole just to reward their rich mates had no effect at all on the bond and subsequent interest rates?

Of course it did and the only reason she didn't crash the economy was the rapid U Turn on the daftest parts of her plan and the market recognition that the lettuce was going to outlast her.

Had that self selving vacuous dimwit stayed in power much longer then it would very much have crashed.

Sunak followed the exact same fiscal strategy when he came into power, no body batted an eyelid. 

Quote from: Unlucky4Sum on October 05, 2024, 12:41:06 AMHow charmless Cromwell

Maybe you should be asking Nick why he thinks he is paying 10% NIC and 40% tax at same time when the personal NIC rate falls to 2% for the income that 40% tax rate applies to.

Even at 2% I am still paying over 70% in tax, something you argued doesn't happen. So proving my OP is correct.

Quote from: Nick on October 05, 2024, 10:04:02 AMI take it you don't do the shopping in your house? Huge amounts of U.K. shelves are stocked with non-EU goods, we are not reliant on the EU for anything. Give an example of something that we can only get in the EU, except brand names like Champagne.

Fresh food at affordable prices.  And FWIW a fair amount of the electricity we use every morning.

Quote from: cromwell on October 05, 2024, 06:47:18 AMWell as has been pointed out your reputation goes before you and when given the benefit of the doubt do what you do best as you always do.

If showing up blatantly false stories for what they are is a bad thing in your book, maybe you should get another book.

The OP is obviously false, why shouldn't I point that out?

Quote from: Unlucky4Sum on October 05, 2024, 12:45:43 AMOf course he would because he knows the optics of accepting that money are not good.

And Ali is worth ~ £200 million with an income in the £hundreds of thousands.  The amounts were chicken feed for him.

So why would buy something for someone who can very easily afford it, unless it's to pay for something he can't buy, like access to Downing St.