Omega Owners Forum

Chat Area => General Discussion Area => Topic started by: STEMO on 23 January 2020, 19:55:09

Title: Think I might be paying too much tax
Post by: STEMO on 23 January 2020, 19:55:09
Could one of you tax experts check my payslip for me



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Title: Re: Think I might be paying too much tax
Post by: Steve B on 23 January 2020, 20:41:39
K46 for a tax code ?
24 yrs old and all that money for kicking a bleeding ball
Title: Re: Think I might be paying too much tax
Post by: dave the builder on 23 January 2020, 21:23:22
Not declaring the money your fence gives you for the swag then  ;D :D
Title: Re: Think I might be paying too much tax
Post by: Viral_Jim on 23 January 2020, 21:58:40
K46 for a tax code ?

I think K means that the benefits in kind received are greater than personal allowance (ie you have a negative tax free allowance for income).

Iirc 46 refers to the number of pounds (x100) that the allowance is. So this guy has a negative personal allowance of £4600.
Title: Re: Think I might be paying too much tax
Post by: biggriffin on 23 January 2020, 22:02:59
K46 for a tax code ?

I think K means that the benefits in kind received are greater than personal allowance (ie you have a negative tax free allowance for income).

Iirc 46 refers to the number of pounds (x100) that the allowance is. So this guy has a negative personal allowance of £4600.


  https://www.burton-sweet.co.uk/what-is-a-k-tax-code/
Title: Re: Think I might be paying too much tax
Post by: STEMO on 23 January 2020, 22:10:14
K46 for a tax code ?

I think K means that the benefits in kind received are greater than personal allowance (ie you have a negative tax free allowance for income).

Iirc 46 refers to the number of pounds (x100) that the allowance is. So this guy has a negative personal allowance of £4600.
Don't think he'll be crying poverty.
Title: Re: Think I might be paying too much tax
Post by: Doctor Gollum on 23 January 2020, 22:21:04
K46 for a tax code ?
24 yrs old and all that money for kicking a bleeding ball
In the States, NFL stands for Not For Long... I suspect the 'soccer' game is almost as short lived. Just under £10 million assuming five years at that level...

Someone taking home £20k a year will see £940,000 in 47 years of work, so still disproportionate, but not as out of line as £159k a month might at first seem...
Title: Re: Think I might be paying too much tax
Post by: Field Marshal Dr. Opti on 23 January 2020, 22:37:42
They may not be able to play football until they are 65 but there is nothing stopping them getting another job for the last 30 years.......much like other people do. :)
Title: Re: Think I might be paying too much tax
Post by: Doctor Gollum on 23 January 2020, 22:50:18
I wasn't defending the amount, merely trying to give it some perspective ;)
Title: Re: Think I might be paying too much tax
Post by: Field Marshal Dr. Opti on 23 January 2020, 23:03:27
I wasn't defending the amount, merely trying to give it some perspective ;)

Actually £159000 take home pay each month is small beer. Some get £500000 a week for kicking a ball about. Still a shit load of money for a 24 year old kid though. :)

I hope he is paying his mum more than the £5 a week I used to pay. :y

Title: Re: Think I might be paying too much tax
Post by: Viral_Jim on 24 January 2020, 01:01:40
NFL and other American sports can be truly insane.

Aaron Rogers (NFL quarterback) picked up nearly $67m in 2018. And that was just from his franchise, that doesn't include sponsorship, endorsements etc etc etc.
Title: Re: Think I might be paying too much tax
Post by: Rods2 on 24 January 2020, 01:30:06
We all sell our labour for the maximum we can. The key is to work in a rich industry, where entertainment is the richest & to have high skills that only a small number of people have at that level. Top pop stars, actors/actresses, writers & other top creators earn large amounts as well. If you can't beat them join them. :y
Title: Re: Think I might be paying too much tax
Post by: aaronjb on 24 January 2020, 07:43:29
Given how much tax he's paying, you should probably all be grateful - he's keeping you old folks in NHS appointments  :P
Title: Re: Think I might be paying too much tax
Post by: Migv6 le Frog Fan on 24 January 2020, 08:59:42
Nail on the head Aaron.
Title: Re: Think I might be paying too much tax
Post by: Rangie on 24 January 2020, 09:21:16
Good luck to him & anyone who's on big bucks.
Title: Re: Think I might be paying too much tax
Post by: aaronjb on 24 January 2020, 09:37:07
Nail on the head Aaron.

Bit like I know that my annual tax pays my Prison Officer friends annual salary (I don't mean Rangie here, either) ;D OK, it doesn't make the tax sting any less ;D ;D

That said, with a bill like that I can see why those people would look into 'tax avoidance' schemes (not illegal - evasion is illegal)!

You have to wonder if his £1250 bonus was really worth including, though? ;D
Title: Re: Think I might be paying too much tax
Post by: Field Marshal Dr. Opti on 24 January 2020, 12:43:22
Given how much tax he's paying, you should probably all be grateful - he's keeping you old folks in NHS appointments  :P

Will his tax cover cover the tax not paid by the tech companies?

Boris is right on this one. He doesn't want to become Trump's poodle.

Title: Re: Think I might be paying too much tax
Post by: Field Marshal Dr. Opti on 24 January 2020, 12:47:36
We all sell our labour for the maximum we can. The key is to work in a rich industry, where entertainment is the richest & to have high skills that only a small number of people have at that level. Top pop stars, actors/actresses, writers & other top creators earn large amounts as well. If you can't beat them join them. :y

That may be how market forces work but it doesn't make it right.

A humble GP contributes more to society than a thousand 'nancy boy' footballers. :)

The same goes for teachers......etc.


Title: Re: Think I might be paying too much tax
Post by: STEMO on 24 January 2020, 12:48:14
Nail on the head Aaron.

Bit like I know that my annual tax pays my Prison Officer friends annual salary (I don't mean Rangie here, either) ;D OK, it doesn't make the tax sting any less ;D ;D

That said, with a bill like that I can see why those people would look into 'tax avoidance' schemes (not illegal - evasion is illegal)!

You have to wonder if his £1250 bonus was really worth including, though? ;D
There are a lot of people who earn less than that each month.
I'm pretty sure my sister does for standing in John Lewis' for eight hours a day.
Title: Re: Think I might be paying too much tax
Post by: deviator on 24 January 2020, 12:55:57
You can tell he's a footballist. No one in their right minds would post their NI number on the internet. I suspect his account is slightly less full at the moment.
Title: Re: Think I might be paying too much tax
Post by: STEMO on 24 January 2020, 12:57:52
You can tell he's a footballist. No one in their right minds would post their NI number on the internet. I suspect his account is slightly less full at the moment.
I reckon someone 'came across' that and put it out there without permission.
Title: Re: Think I might be paying too much tax
Post by: STEMO on 24 January 2020, 12:58:36
Which means Jaime will have to go to jail when he reappears.
Title: Re: Think I might be paying too much tax
Post by: Kevin Wood on 24 January 2020, 21:33:17
You can tell he's a footballist. No one in their right minds would post their NI number on the internet. I suspect his account is slightly less full at the moment.

Thereby lies the snag with getting a "normal job" for the other 30 years of their life. ;)