pedel:
You are not very intelligent.
I work and live in England. I pay my taxes here.
Furthermore, I don't want to call you a fool, not because you are not one, but because it will violate Nairaland 2nd rule.

pedel:
False information.
You pay 0% tax on the first £12,570. 20% basic rate tax on the part of your income which falls into the next tax bracket (£12,571 up to £50,270). This means you'll pay 20% tax on £37,700.
Anything you earn above £50,271 to £125,140, is taxed at 40%.
Your income over £125,140, is taxed at 45%.
That's why you see those footballers with fleets of expensive cars. That is where they put all their earnings to avoid paying big taxes.

pedel:
False information.
You pay 0% tax on the first £12,570. 20% basic rate tax on the part of your income which falls into the next tax bracket (£12,571 up to £50,270). This means you'll pay 20% tax on £37,700.
Anything you earn above £50,271 to £125,140, is taxed at 40%.
Your income over £125,140, is taxed at 45%.
That's why you see those footballers with fleets of expensive cars. That is where they put all their earnings to avoid paying big taxes.

pedel:
False information.
You pay 0% tax on the first £12,570. 20% basic rate tax on the part of your income which falls into the next tax bracket (£12,571 up to £50,270). This means you'll pay 20% tax on £37,700.
Anything you earn above £50,271 to £125,140, is taxed at 40%.
Your income over £125,140, is taxed at 45%.
That's why you see those footballers with fleets of expensive cars. That is where they put all their earnings to avoid paying big taxes.

pedel:
False information.
You pay 0% tax on the first £12,570. 20% basic rate tax on the part of your income which falls into the next tax bracket (£12,571 up to £50,270). This means you'll pay 20% tax on £37,700.
Anything you earn above £50,271 to £125,140, is taxed at 40%.
Your income over £125,140, is taxed at 45%.
That's why you see those footballers with fleets of expensive cars. That is where they put all their earnings to avoid paying big taxes.

Princewill1:
Yesterday I opened a thread on "11 Reasons Why You Should Not Japa From Nigeria"

Reason No. 11 has something to do with this topic. Let me quote it below:

11.) NO RAT RACE OR EXTREME TAXATION IN NIGERIA:

You will labour abroad for a month and the rigged system will use "high taxation, high cost of living and the scam credit system" to return everything back to the system in order for you to repeat the circle again. In a bid not to go homeless on the cold streets, and also to put food on your table, you have no other option than to keep repeating the circle until the time you will finish your term of slavery due to old age, then your children will start where you stopped and the circle continues.

Truth is, the entire world is controlled by the globalists in the West, the further away you're from the West and it's entanglements the freer you will become. If the 1% elite in the West removes the rigging in the system you will be able to secure enough bags and retire early. But they stands to lose if people starts excaping the system early, they need your manpower for longer period of time to maintain their industries and establishments. This explains why the more income you earn there, the more rediculous taxes you pays because the system is continously gauging you and the tax system (one of it's tools of control) is strictly and heavily guided, defaulters risks jail term. The system was programmed in a way that you will never get enough in order not for you to start thinking of excaping the slave camp early until you finish your term of slavery.

This is one of reasons why rich and exposed Nigerians don't fancy living abroad. Even most African ex-footballers returns home immediately after the end of their career in Europe. An average Nigerian coming from lack, hunger and extreme poverty and who is daydreaming of Japa won't be able to see this anomaly.

Living in Nigeria will provide you the opportunity to excape Matrix.

DeOTR:
I rejected an offer which came with relocation to the UK sometime last year for this reason.

mrvitalis:

No first 15k abi 12k is tax free
The extra till 50k is taxed at 20%
The extra above 51k is taxed at 40%

Say you earn £125k

Your tax is

0.2 x 38 =7.6
0.4 x 75 = 30

So your total federal tax would be 37.6 k pounds

But toy still have county tax, road tax, health insurance etc.. You would end up paying over 45k

Luckysbab:


How does spending on expensive cars help them avoid taxes?

LaIabobo:
Not true. People should learn how tax deductions work.
40% is only paid on the £1000 above 50k
Someone earning 49k takes home £3111 after tax.
51k takes home £3219 after tax

Nice2023:
If you earn form 50k pounds downwards you pay only 20% tax

If you earn from 51k pounds to 125k pounds you pay 40% tax.

So you rather remain at 49k than accept 50/60k pounds salary.

inoki247:
Lol I just hope by 2024 all this UK this and that go stop....



Like I don't understand the color of UK people problem anymore....

pedel:
You are not very intelligent.
I work and live in England. I pay my taxes here.
Furthermore, I don't want to call you a fool, not because you are not one, but because it will violate Nairaland 2nd rule.

Princewill1:
Yesterday I opened a thread on "11 Reasons Why You Should Not Japa From Nigeria"

Reason No. 11 has something to do with this topic. Let me quote it below:

11.) NO RAT RACE OR EXTREME TAXATION IN NIGERIA:

You will labour abroad for a month and the rigged system will use "high taxation, high cost of living and the scam credit system" to return everything back to the system in order for you to repeat the circle again. In a bid not to go homeless on the cold streets, and also to put food on your table, you have no other option than to keep repeating the circle until the time you will finish your term of slavery due to old age, then your children will start where you stopped and the circle continues.

Truth is, the entire world is controlled by the globalists in the West, the further away you're from the West and it's entanglements the freer you will become. If the 1% elite in the West removes the rigging in the system you will be able to secure enough bags and retire early. But they stands to lose if people starts excaping the system early, they need your manpower for longer period of time to maintain their industries and establishments. This explains why the more income you earn there, the more rediculous taxes you pays because the system is continously gauging you and the tax system (one of it's tools of control) is strictly and heavily guided, defaulters risks jail term. The system was programmed in a way that you will never get enough in order not for you to start thinking of excaping the slave camp early until you finish your term of slavery.

This is one of reasons why rich and exposed Nigerians don't fancy living abroad. Even most African ex-footballers returns home immediately after the end of their career in Europe. An average Nigerian coming from lack, hunger and extreme poverty and who is daydreaming of Japa won't be able to see this anomaly.

Living in Nigeria will provide you the opportunity to excape Matrix.

Bluntemperor:


So, why did you say OP Statement is false and what is the difference between what you typed and the OP' s own?
Always Calming down!

VULCAN:
You did well till you got to the last two sentences.

A luxury car is not tax exempt for an employee.

The footballers apply tax avoidance by incorporating themselves as a business and paying themselves as an individual
a reasonable salary which is the only part of their earnings that is heavily taxed.

The rest is bought under their corporation which pays corporate tax after most of their frivolous expenses have been written off.

InvertedHammer:

/
Taxation is not straightforward like that. While they tax, it is up to individual taxpayers to channel their funds or expenses in tax deductible ways to come out ahead. The way someone earning £125k moves with his money may make him pay less taxes overall than someone earning £51k. I am assuming UK tax system is similar to US tax system.
Generally if a bulk of the salary is coming from overtime work, the employee is screwed.
/

pedel:
You are not very intelligent.
I work and live in England. I pay my taxes here.
Furthermore, I don't want to call you a fool, not because you are not one, but because it will violate Nairaland 2nd rule.

pedel:
False information.
You pay 0% tax on the first £12,570. 20% basic rate tax on the part of your income which falls into the next tax bracket (£12,571 up to £50,270). This means you'll pay 20% tax on £37,700.
Anything you earn above £50,271 to £125,140, is taxed at 40%.
Your income over £125,140, is taxed at 45%.
That's why you see those footballers with fleets of expensive cars. That is where they put all their earnings to avoid paying big taxes.

pedel:
False information.
You pay 0% tax on the first £12,570. 20% basic rate tax on the part of your income which falls into the next tax bracket (£12,571 up to £50,270). This means you'll pay 20% tax on £37,700.
Anything you earn above £50,271 to £125,140, is taxed at 40%.
Your income over £125,140, is taxed at 45%.
That's why you see those footballers with fleets of expensive cars. That is where they put all their earnings to avoid paying big taxes.

pedel:
False information.
You pay 0% tax on the first £12,570. 20% basic rate tax on the part of your income which falls into the next tax bracket (£12,571 up to £50,270). This means you'll pay 20% tax on £37,700.
Anything you earn above £50,271 to £125,140, is taxed at 40%.
Your income over £125,140, is taxed at 45%.
That's why you see those footballers with fleets of expensive cars. That is where they put all their earnings to avoid paying big taxes.

Nice2023:
If you earn form 50k pounds downwards you pay only 20% tax

If you earn from 51k pounds to 125k pounds you pay 40% tax.

So you rather remain at 49k than accept 50/60k pounds salary.

pedel:
You are right and that doesn’t mean I am wrong.
My cars are own by the company I fully own.
All my fuel and car repairs are done from the company account.
Most of my clothing are work clothes.
This is the game the rich people play.
My trips to Nigeria are all business trips (not holidays).
They are all paid for from my company account.
That’s how the rich write off expenses from their taxes.
Grant Cardone wrote off his Gulfstream jet against his tax. You can Google it.
I used footballers as example because that’s what an average Nigerian can relate with.
Atiku paid less than N5m as tax according to his tax clearance certificate prior to the election.
Personal finance should be a mandatory course in Nigeria for secondary school students.
Reading Robert Kiyosaki’s Rich Dad, Poor Dad would have made this post unnecessary.
You are not an average Nigerian and it’s pleasure interacting with you.

pedel:
You are not very intelligent.
I work and live in England. I pay my taxes here.
Furthermore, I don't want to call you a fool, not because you are not one, but because it will violate Nairaland 2nd rule.

BloomingDale:
Leke Agba the liar. 20% will be paid on the first 50,000 and 40% will be paid on the rest, which is 1000. Some amount should be tax free though (probably the first 10,000 or so). I used the American tax system. Should not be much difference, just the amt will defer.