View Single Post
  #12   Report Post  
Old May 30th 04, 11:44 PM posted to uk.transport.london
Stimpy Stimpy is offline
external usenet poster
 
First recorded activity at LondonBanter: Aug 2003
Posts: 254
Default UK Petrol prices

Richard J. wrote:

Coincidentally, for standard rate taxpayers, today is the day when
you stop earning money for the government and start earning it for
yourself.

In each year, almost 5 months worth of your salary goes in tax!


That can't be right; it would imply an average tax rate of 41%. I
think you'll find that such calculations start at the beginning of
the UK tax year, 6th April.


That's right... A standard rate income tax payer actually pays over 40% in
tax when you take into account indirect taxes