 PAYE, Why Can't I opt out and then pay 1% tax? |
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 Jun 24 2012, 10:03 AM
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#41
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Advanced Member  Group: Members Posts: 11,902 Joined: 3-September 09 Member No.: 317  |
QUOTE (Biker1 @ Jun 24 2012, 11:02 AM)  Don't you pay it on a pension? Yes if it is a private pension, provided it is above a certain amount. If it is only a state pension, then it is done by self assessment. |
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Jun 24 2012, 10:23 AM
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#42
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Advanced Member Group: Members Posts: 3,762 Joined: 14-May 09 Member No.: 56 |
QUOTE (Biker1 @ Jun 24 2012, 11:02 AM) Don't you pay it on a pension? Yes of course, my sloppy reply. My real point being it doesn't stop someone from mitigating tax liability on any savings (inheritance tax for instance). |
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Jun 24 2012, 11:41 AM
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#43
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Advanced Member Group: Members Posts: 1,012 Joined: 22-September 09 Member No.: 357 |
Vodafone’s tax bill fell from £140 million in 2010 to zero in 2011. Profits rose by 16% over the same period to £402 million. This is on top of the £6billion tax bill the taxman let them off the year before.
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