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Not asking people to post on here to brag/complain about their incomes but thought people might be interested in this, if you haven't seen it before
www.ifs.org.uk/wheredoyoufitin/
It shows you where different household incomes will fit in to the income distribution (it is based on net income after benefits and tax deductions taking into account the size of household)
some examples:
A household of 2 adults and 2 children (aged under 13) living in a council tax band D house in Leeds, with a combined income of £32000 a year would be around the mid point of the distribution, better off than 50% of the population.
A single person living in a band A house in Leeds, on an income of £17000 a year would be better off than 58% of the population.
A household of 2 adults without children living in a band C house in Leeds, on a combined income of £65000 a year, will be better off than 97% of the population
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Not asking people to post on here to brag/complain about their incomes but thought people might be interested in this, if you haven't seen it before
www.ifs.org.uk/wheredoyoufitin/
It shows you where different household incomes will fit in to the income distribution (it is based on net income after benefits and tax deductions taking into account the size of household)
some examples:
A household of 2 adults and 2 children (aged under 13) living in a council tax band D house in Leeds, with a combined income of £32000 a year would be around the mid point of the distribution, better off than 50% of the population.
A single person living in a band A house in Leeds, on an income of £17000 a year would be better off than 58% of the population.
A household of 2 adults without children living in a band C house in Leeds, on a combined income of £65000 a year, will be better off than 97% of the population
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Club Coach | 8119 | No Team Selected |
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| Top 1%, obviously.
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International Chairman | 3569 | No Team Selected |
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| since i became ill and also not qualifying for any benefits........
you have a higher income than around 8% of the population - equivalent to about 4.9 million individuals.
before i was ill and working......
you have a higher income than around 45% of the population - equivalent to about 27.3 million individuals.
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International Chairman | 32466 | No Team Selected |
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| Interesting.
Quote you have a higher income than around 67% of the population'"
Its persuaded me that adding two "adult" wage earning children into the equation would now make us as wealthy as we were when I was running my own business and setting my own remuneration rather than (as now) working for someone else on a fixed salary.
Of course those two "adult" wage earning children only add a very small amount of their income into the household pot, prefering to spend it on themselves instead - and that is why I am skint now and not really believing the survey.
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International Chairman | 37704 | No Team Selected |
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| I wonder why they exclude rent or mortgage payments from the calculations?
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International Board Member | 37503 | No Team Selected |
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| Quote ="cod'ead"I wonder why they exclude rent or mortgage payments from the calculations?'"
does seem odd, as does the omission of most other standard bills, the whole thing suggests that the only thing you pay out of your income is Council Tax, which as we all know is garbage.
Also, according to the site, we are in the top 1%, so am I led to believe that the top 1% earn between £100k a year and the multi-millions that professional footballers get paid?
in short, it's a load of bollox.
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Player Coach | 20628 | No Team Selected |
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| Quote With a household after tax income of £1218 per week, you have a higher income than around 97% of the population - equivalent to about 58.8 million individuals.'"
I wish i felt as rich as this is telling me
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| Quite alarming, I don't think I am that well paid for what I do, but my wife and I are better off than 86% of the population.
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| Quote ="Standee".. in short, it's a load of bollox.'"
In short, I suspect you're right.
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International Chairman | 14845 | No Team Selected |
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| Quote ="Standee"does seem odd, as does the omission of most other standard bills, the whole thing suggests that the only thing you pay out of your income is Council Tax, which as we all know is garbage.
Also, according to the site, we are in the top 1%, so am I led to believe that the top 1% earn between £100k a year and the multi-millions that professional footballers get paid?
in short, it's a load of bollox.'"
You're supposed to put your net income in (not gross).
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International Chairman | 14845 | No Team Selected |
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| Quote ="Horatio Yed"I wish i felt as rich as this is telling me
'"
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International Board Member | 37503 | No Team Selected |
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| Quote ="Dally"You're supposed to put your net income in (not gross).'"
I did, and as I said, it's bollox.
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| -
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| I came out on ahead of ca.69% of households, which seems low when according to gross income surveys I would be much higher than that. However, Mrs D doesn't work.
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International Chairman | 14845 | No Team Selected |
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| Quote ="cod'ead"I wonder why they exclude rent or mortgage payments from the calculations?'"
Because not everyone pays them. Council tax is a tax so it is deducted as is income tax and NI. Vat is, in theory, an optional tax on spending and so is excluded.
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International Board Member | 37503 | No Team Selected |
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Apr 2003 | 22 years | |
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| Quote ="Dally"Because not everyone pays them. Council tax is a tax so it is deducted as is income tax and NI. Vat is, in theory, an optional tax on spending and so is excluded.'"
does that work in your lunatic world?
not everyone pays TAX and NI, some pay only Corporation Tax. And when did you last manage to tactically avoid VAT?
I do hope those hallucinogenics are VAT free Dally, I really do.
It's a totally garbage and jaundiced piece of "investigation", I may as well ask my cat what she thinks of foreign policy and then take six weeks to try and understand what "miaow" means in this context.
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International Chairman | 14845 | No Team Selected |
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| Quote ="Standee"does that work in your lunatic world?
not everyone pays TAX and NI, some pay only Corporation Tax. And when did you last manage to tactically avoid VAT?
I do hope those hallucinogenics are VAT free Dally, I really do.
It's a totally garbage and jaundiced piece of "investigation", I may as well ask my cat what she thinks of foreign policy and then take six weeks to try and understand what "miaow" means in this context.'"
I was just explaining the logic, not commenting on its validity. If someone just pays Corporation Tax that's irrelevant. This concerns personal incomes - so relates to the amount drawn from such an individual's company (net of personal taxes payable - if any).
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International Board Member | 37503 | No Team Selected |
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| Quote ="Dally"I was just explaining the logic, not commenting on its validity. If someone just pays Corporation Tax that's irrelevant. This concerns personal incomes - so relates to the amount drawn from such an individual's company (net of personal taxes payable - if any).'"
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.
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Club Coach | 16274 | No Team Selected |
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Quote ="Dally"You're supposed to put your net income in (not gross).'"
Yes sorry for being slightly misleading by not making this clear. This website might help convert gross to net: listentotaxman.com/
Quote ="cod'ead"I wonder why they exclude rent or mortgage payments from the calculations?'"
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.
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Quote ="Dally"You're supposed to put your net income in (not gross).'"
Yes sorry for being slightly misleading by not making this clear. This website might help convert gross to net: listentotaxman.com/
Quote ="cod'ead"I wonder why they exclude rent or mortgage payments from the calculations?'"
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.
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Rank | Posts | Team |
International Chairman | 14845 | No Team Selected |
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Dec 2001 | 23 years | |
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Oct 2021 | Jul 2021 | LINK |
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| Quote ="Standee"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.'"
Yes. It's about to net of tax income you take.
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International Board Member | 37503 | No Team Selected |
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| Quote ="Dally"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.
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International Chairman | 37704 | No Team Selected |
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Quote ="sally cinnamon"Yes sorry for being slightly misleading by not making this clear. This website might help convert gross to net: 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
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Quote ="sally cinnamon"Yes sorry for being slightly misleading by not making this clear. This website might help convert gross to net: 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
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International Chairman | 14845 | No Team Selected |
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| Quote ="Standee"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.
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International Chairman | 1457 | No Team Selected |
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| I always thought I was skint but now it's official.
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Moderator | 3221 | No Team Selected |
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| Quite surprised actually...
"you have a higher income than around 88% of the population - equivalent to about 53.4 million individuals"
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