Thought Id start this one going because its rather dead on this board at the moment and I suppose all my usual muckers are either at the Stella tennis event watching Dim Tim (lose again) or at Henly Regatta eating cucumber sandwiches (they wish,...NOT).

Anyway please feel free to just talk to yourself blast away and let it go on any company or subject you wish. Just wish Id thought of this one before.

cheers GF.

Before, Manuel applies for job at his local park as Park Attendant in charge of rowing boats.

Nice photo of Tony Blair wearing a red poppy

Goldfinger

It doesn't matter how much money you have , there are always ways of spending it in your life time like paying off the American deficit

''As well as creating jobs and giving to charity, the wealthy should be hailed as Tax Heroes''
MaxK----In certain instances when people give to charities the government through the taxpayer tops it up by the (inferred) tax rate paid by the donor, now IF the rich aren't paying tax then the burden of the government 'top up' is borne by those (less well off) who do pay tax. I pay tax and when I give to charity it is a charity of my choosing. I don't know about you but I object to my taxes going to a charity that some wealthy person decides to donate it to, especially when that person pays little or no tax.
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Fred1new - 18 Nov 2013 09:50 - 32929 of 32931


Cynic,


As you d-in-law is suppose to be a medically qualified doctor zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz thank's for that post Fred , i had a nice little sleep, can you post again at about 3 pm i want to take another nap

george - i've prob missed something, but i don't understand your last sentence (I object to my taxes going to a charity that some wealthy person decides to donate it to)

fred - i can't be bothered to read 95%+ of your stuff, and your latest falls into that category

George

Nor do I

cynic, aldwickk---I thought it was clear enough, obviously not so here goes. Wealthy person donates to a charity, government tops it up (with taxpayers money) at the (inferred) tax rate of the donor, but the wealthy donor does not pay taxes, so does not contribute towards the top up, where does the money come from? answer---the people that do pay taxes, and the people that do pay taxes would prefer (maybe) to give to a charity of their choice and not the choice of a non taxpayer.
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a bit obtuse (i think that's the right word) it must be said ..... the charities are very thankful indeed for the "gift aid" and i'm not convinced that that money actually comes from the government (aka other tax payers)

i'm happy to be told i'm wrong - many take great pleasure in that - but as i understand it, the donor foregoes his right to claim the donation against his tax bill, so the charity gets it instead

http://www.bbc.co.uk/news/uk-politics-24983159

UKIP has the cash

That's the point cynic they do reclaim the tax element on the donation, below is from HMRC website.

To make a Gift Aid repayment claim using the HM Revenue & Customs (HMRC) Charities Online Service, you need to record your donations on a Gift Aid schedule spreadsheet, and attach it to your claim.

Apologies for not (perhaps) being clearer but it is monday, it is also monday for you ha! ha!
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Hays Hays Hays

Milli as now closed that gap with fat Dave.

Just another week on PMQs and he'l be ahead........

electionista‏@electionista15 Nov
UK: Ipsos poll: 35% of voters satisfied with PM @David_Cameron, 56% dissatisfied. 31% satisfied with Labour's @Ed_Miliband, 54% dissatisfied

george - is "they" the charity or the donor? ...... surely it cannot be both as otherwise you'ld have double tax relief

gf do you think that Ed Milliband should sack Ed Balls.
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The charity only gets the tax on the donation at the basic rate 20%. The donor can claim back the difference between the basic rate and the highest rate he pays.

thanks hays ..... so to clarify for george, other taxpayers don't stick their hands in their pockets at all!

Donor gives £10,000; Charity gets £12,000; Donor claims back £2,500 (45%-20%) So the taxpayer outlay is £4,500. So to clarify for cynic, other taxpayers DO stick their hands in their pocket.
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you're far too clever for me george!

however, my dinosaur brain tells me that the donor merely pays less tax than he would have done, but for sure no one else has had his hand in the till or suffered ..... the taxpayer (aka HMRC) does not fork out at all; the exchequer is just a neutral conduit for the transaction

of course, as far as i can see, if the donor does not sign up for "gift aid", then the donor saves full tax on the whole amount

A patronising remark, none the less here is another more accurate example.

You earn £125 and £25 tax is deducted from this at the basic rate of 20%. This leaves you with £100. You then donate the £100 to charity through Gift Aid.

The charity can claim an extra £25 (the tax you paid at basic rate) from the government to make your total donation £125.

Higher rate taxpayers

If you pay tax at the higher rate of 40% or above, you can claim back the difference between the higher and basic rate on the value of your donation:

Example

You donate £100 to charity through Gift Aid - they claim 20% to make your donation £125. You pay 45% tax so you can personally claim back £31.25 (£125 x 25%).
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2517GEORGE....re Milli sacking Balls.

Lets not forget George that Alan Johnson was Millis nos 1 chancellor when he took over.

To sack him now wouldnt look very good.

I do admit balls comes over as a a bit of a rough street fighter in the same vein as John Prescott, but their is no doubt in my mind that hes a very inteligent economist who called the last couple of years spot on and pointed out we didnt need to as a country go through all this austerity that has now left living standards floundering.