Boards Index General discussion Getting serious Like to be richer in 07?

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  • #5897

    I have never understood why people do pay has you earn tax. (PAYE)

    Why do people pay 25% income tax and 9% NI?

    I spouse if you’re on low income or get some benefits, its ok to be on PAYE, but if your single and don’t have kids why keep paying it?

    If you work has self-employed, you only pay 23% income tax and £2.50 per week N I.

    They company still takes the tax each week, but not the NI, so they’re no lager tax bills at the end of each year and you pay your NI by direct debit.

    Most people would be better off by 10% per year, so why keep doing it?

    http://www.hmrc.gov.uk/employment-status/index.htm

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