On 23 Aug 2006 18:01:53 GMT, Huge wrote:


That might have been what was said. I don't believe it. You
only have to look (preferably from a distance) at the metrication
fascists to know what kind of people were involved.

It was to conceal the humunguous scale of taxation we pay nowadays.

If you and I were both VAT registered artisans employed by our own
companies, I would pay income tax and VAT, you would pay income tax
and VAT. If I were to spend a day working on a private project on your
house (say) for you @ £400 inc VAT that would yield a marginal income
of £400 -£60 (vat) - £80 (both NI's) - £112 (Higher rate tax) =
£148.

Now if I had spent the £148 remaining out of the £400 you gave me on
motor fuel I would have got (say) 30 quids worth of fuel all the rest
= £370 being tax.

Now :-)) since your finances are identical to mine to get the £400
that you paid to me in spendable cash you would have had to bill out
£400x400/180 = £888.88 to your customers just to pay me enough money
to buy 30 quids worth of poxy diesel in my sorry heap.

:-(

Tha above analysis is not rigorous, I don't have access to or
understand tax/NI tables. However it also omits most of the nickel and
dimeing taxes. Company car tax, taxes on notional benefits in kind,
such as private use of a works phone, computer, travel insurance
etc. GB created a tax incentive for firms to buy PC's for employees,
now he proposes taxing the employee on the benefit in kind on them.

Shysters. No other word for it.

DG