 Is there tax on redundancy payments? |
If someones job is made redundant after 10 years service.
Is there tax to be paid on the redundancy payment and or the notice period payment?... |
|
 What would happen if i didn't file one of my jobs on my taxes? |
| I work 2 jobs, one is full time and the other is a part time, I don't even think I make over 8,000 dollars there in a year. I was wondering what would happen if I didn't file them on my ... |
|
 Where is my tax rebate? |
| The last two of my social are 08 and my taxes were filed with direct deposit, but I didn't receive my rebate today like I was suppose to according to their payment schedule.... |
|
 Does yor H & R Block card count as direct deposit? |
| When I did my taxes I went to H & R Block and got my return put onto their Emerald card. Does anyone know if that is considered direct deposit? I'm curious as to when I'll get my ... |
|
 How can you hide money from federal taxes? |
How can you hide money from federal taxes?
without hiding the money in your ... |
|
 Flat Tax vs. Fair Tax - which would you choose? |
| Flat Tax - taxes your income. You pay a fixed amount of tax (e.g. 19%). You might have to pay payroll taxes. You may not get deductions from mortgage interest payments. Flat tax doesn't get ... |
|
 I read the Tax rebate is deducted from 2009 tax return. Is this true? |
| I read an article that said the rebate money is not free money. The MSN article said whatever amount I receive will be deducted from my 2009 tax return or (if the return is not enough to cover the ... |
|
 Can i stop the govt from taking money out of my paycheck going to social security? |
| i don't want nothing to do with that program no more, i don't believe i'll ever see a penny from it when i hit that old age, might have worked myself to death by the time i get that ... |
|
 My friends boss pays him with two separate checks....? |
| One check is a regular pay roll check with a low hourly rate and taxes are taken out.The other check his boss says is a "bonus" but it is really the balance of his weekly pay. He does not ... |
|
 How to I report tax evaders in the UK? |
And remain anonymous
Additional Details
Believe me this person deserves it - I pay my taxes, so does ever other decent person. So why should I subsidise THEIR lifestyle with MY money? W... |
|
 How much is your disposable income per month? |
| Well I got no disposable income because at the moment I am spending more than I earn. What about the rest of Y/A ... |
|
 How much tax would I pay on £30,000 a year? |
| i.e. how much would I have left to live on!... |
|
 Where I work, we have uniforms. We wash them ourselves, not the company. Can i use that as a tax deduction? |
| If so, how is that calculated? I once heard that they average out the cost for dry cleaning and use that. But thats just what I heard. Anybody know?... |
|
 Is it annoying when employees ask for another W-2? |
| Does my old employer have a copy of my W-2? What do you think of people that ask for another W-2 this late? Is it possible to even get one that fast? Also is it a hassle to make another W-2. BTW I ... |
|
 Where to file Tax? that is not HR block? |
I am just a student, i dont have much a complicated tax returns to file.
However, HR Block said they will charge me $100.00 that is practically about 30% of my tax returns.
I heard ... |
|
 Taxes and marriage? |
| My live in boyfriend is disabled and receives about 12K a year in Social Security benefits. I work and make about 35-40K per year. Currently we file our taxes as single and I claim both children ... |
|
|  |
Les M | Income tax /council tax are they essentially the same thing and is the money from both used for the same thing |
|
 |
 
dr evil
|
There is, as previous answerers have pointed out, a great difference between income and council tax. Income tax varies, slightly, with the amount of money you earn. So, those more able to contribute more, this is, of course, a much more just system of taxation. If we were pushing a car, would we not expect the strongest to push harder? Ideally we would have a local income tax to replace council tax |
|
toietmoi
 |
No. Income tax goes to the treasury and is varied according to your income. Council tax does not depend on your income but where you live and the type of property and goes to your local council. |
|
mark
 |
Income tax is related to the amount of money that you earn and goes into the national coffers (NHS, Defence etc)
Council tax is related to the value of your home and goes to local services (Police, Fire etc) |
|
alatoruk
|
no
income tax is tax based on your income and goes to central govt
this one is irrespective of where you live.
council tax is tax based on your abode and goes to local govt.
this one is irrespective of your income, although you can get benefits to help pay it if you on low income. |
|
costa
 |
No they are not the same. Income tax is a tax on income (surprised?) and council tax is levied by the council to pay for council expenditure (rubbish collection, police etc).
Bit obvious really. |
|
jeddyberry2002
|
Income tax is paid on your income - salary. wages, profits - while council tax is paid on the value of your home/house. |
|
lamyarhull
|
income tax is what is taken off ya wages, council tax is paid for the house you live in. but they do go to paying all the same things |
|
Ivan R
|
Hello,
NOP!! I disagree with you, income tax and council tax are most definately NOT the same thing at all. I think you are confusing two different forms of taxation here IMO.
1) Income tax is paid at a specific rate, defined by how much you earn. The tax code you are given by the inland revenue defines the rate at which you pay income tax. So for example if your on a low salary say £12,000 a year you would probably only pay income tax at a basic rate of 22.5% approximately. If you were say a CEO or company director and earn £250,000 a year you would pay income tax at 40%.
**How much income tax you pay is related directly to salary & Tax coding.
**NOTE: Income Tax goes into government coffers i.e. no.11 downing street and Gordon Brown. Money collected from income tax goes on wider government spending like budgets for police forces, defence & MOD, Budgets to the NHS, bugets to local authorities, budgets to run government depts such as the home office, MI5, imigration,etc,etc.
2) Council Tax on the other hand is calculated upon your location (local authority in the area you live), the size & type of property you live in (the value of your home= which band you will be assesed), and also the number of people living in the property.
Council Tax is a fixed amount each year (although it keeps going up as far as I can see) and is used to pay for "local services" instead of national or government expensitures. So for example refuse collection services, road repairs, street lighting, local fire services, council administration,etc,etc.
They are NOT the same, one is local the other national. (both hurt in the pocket though, thats true enough!!).
IR |
|
tringyokel
 |
All taxes have the characteristic that they are payments we make to cover the cost of things which are better dealt with on a communal basis. These cover items such as defence, which is truly national, hospitals, police and down to refuse collection, which is much more localised.
Generally, the more national the expenditure the more likely it is paid for out of national taxes such as income tax. Local services tend to be paid from local taxes ie council tax. The division between the two is not always clear nor consistent and it should be remembered that central government contributes large sums to the local councils, so some local services are being funded from national taxes.
There are many different ways of calculating how much an individual should contribute to a particular tax. Income tax is, obviously , based on income. VAT and stamp duty are taxes on expenditure. Council tax is based on property values using the theory that richer people tend to live in more valuable houses.
All these methods of calculation are attempts to make the imposition of tax "fair". The trouble is, the definition of fair varies from one individual to another. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
9 | 20 minutes(s) ago
| | | |
9 | 41 minutes(s) ago
| | | |
8 | 2 hour(s) ago
| | | |
9 | 5 hour(s) ago
| | | |
9 | 7 hour(s) ago
| | | |
9 | 9 hour(s) ago
| | | |
9 | 11 hour(s) ago
| | | |
9 | 1 day(s) ago
| | | |
9 | 2 day(s) ago
| | | |
9 | 4 day(s) ago
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
