Van Der Vaart's wages?

[Krafty]

Might be 75k basic, 44K after tax?

 

[Kendall]

Might be 75k basic, 44K after tax?

£75k is £37k after tax...

 

[WhiteStripe]

£75k is £37k after tax...

False, it's £50,561.15

In fact thats after NI also....

 

[tylaw]

£75k is £37k after tax...

wtf? Where did you get that figure from?

 

[danielneeds]

£75k is £37k after tax...

I would contact your HR department mate, someone's taking the piss on your payslip!:grin:

 

[WhiteStripe]

He made a rookie mistake and just halfed it......lolz

 

[tylaw]

He made a rookie mistake and just halfed it......lolz

Is he my wife?

 

[brett.spurs]

Kendall is right no? Higher band tax in England is 50%

 

[WhiteStripe]

Kendall is right no? Higher band tax in England is 50%

He is right....my apologies...for some reason I lived in the real world for aminute and forgot its 75k per week!

 

[tylaw]

If you think someone who gets paid £3.9m per year will be bound by regular PAYE income tax rates then you are sadly misguided. Most people who earn that amount in 10 years would still employ a tax consultant to bring that bill right down.

 

[WhiteStripe]

If you think someone who gets paid £3.9m per year will be bound by regular PAYE income tax rates then you are sadly misguided. Most people who earn that amount in 10 years would still employ a tax consultant to bring that bill right down.

But to the letter of the law, with no other factors considered, his tax would leave him with only half his wages.

 

[Rackybear]

What do you need to earn above to be obliged to pay 50% on your income?

 

[tylaw]

But to the letter of the law, with no other factors considered, his tax would leave him with only half his wages.

No, it's legal. Everyone has to pay their taxes but you can be more efficient in the amount that you pay.

To the letter of the law, tax avoidance IS illegal and has heavy consequences. Tax efficiency is perfectly legal.

 

[WhiteStripe]

What do you need to earn above to be obliged to pay 50% on your income?

150k per annum

No, it's legal. Everyone has to pay their taxes but you can be more efficient in the amount that you pay.

To the letter of the law, tax avoidance IS illegal and has heavy consequences. Tax efficiency is perfectly legal.

So how do you be more efficient? Examples?

 

[brett.spurs]

What do you need to earn above to be obliged to pay 50% on your income?

£150k a year.

 

[tylaw]

150k per annum



So how do you be more efficient? Examples?

I think this is going very much off topic. It's very much by the by though as regardless of how much Tax RVD(r) pays, Spurs will still be paying him the same amount. That's what concerns us as Spurs fans, Shirley?

 

[Kendall]

I can't believe I was getting hammered for my tax calcs there :lol: I even double checked it to make sure.

Racky. Personal allowance is £6,475 where you pay no tax. You pay 20% on earnings between the personal allowance and £37,400 (plus personal allowance, so effectively £43,875). Then 40% on £37,401-£150,000... then 50% on any excess.

 

[WhiteStripe]

I can't believe I was getting hammered for my tax calcs there :lol: I even double checked it to make sure.

Racky. Personal allowance is £6,475 where you pay no tax. You pay 20% on earnings between the personal allowance and £37,400. Then 40% on £37,401-£150,000... the 50% on any excess.

You weren't getting hammered mate. I just forgot for a minute that footballers are ****s!

 

[Kyras]

What do you need to earn above to be obliged to pay 50% on your income?

Need to earn over 150k
0-£37400 is taxed at 20%
£37400-£150k is taxed at 40%
£150k+ is taxed at 50%

So if he is on £75k a week, half a weeks wages will be taxed at 20%, 1.5 weeks wages at 40% and then the rest at 50%, so he'll earn around £38k after tax.

That is assuming it's all done properly, all declared as income etc. If it is bonuses they are taxed at different rates I think.

 

[Kendall]

There are ways of reducing your your immediate income tax bill, but not many that will substantially reduce what he's having to pay to be fair.

The 50% tax bracket is a real put off for sportsmen.