Quote:
Originally Posted by Xaccers
Net as in a string bag used to catch things 
Sorry flyboy, but if you aren't able to fathom that HMRC allow you to claim it back as expenses then I really wonder how you're going to understand that while VAT was increased from the two rates of 8% and 12.5% to a single rate of 15% income tax was reduced considerably. |
A self-employed person does not claim anything back, because they haven't paid anything to HMRC, before they calculate their taxable profit at the end of their accounting period. Any mileage allowances are added to expenditure, therefore reducing the taxable profits, I have not said that someone cannot use a mileage allowance. I think that you are the one who is confused and are trying to do a bit of wriggling.
As far as VAT is concerned, you may have noticed that I wrote "standard rate." So, no misunderstanding at all then, eh.
---------- Post added at 23:54 ---------- Previous post was at 23:51 ----------
Quote:
Originally Posted by Ignitionnet
Yes, let's compare an administration that inherited double-digit inflation, a nice fat recession (2.36% drop in GDP in Q3 1979), and militant trade unions with one that inherited a stable, surplus running economy shall we?
Makes it impossible to compare the tax take, which is the stat you are looking at. The actual tax rates, no idea of, however it would probably be somewhat fairer to take the Tory numbers a bit later on once they'd had a while to work on the economy.
Oh here's a thought for you Flyboy, despite the crap the Tories inherited they still managed better average GDP growth than Labour.
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Wouldn't mind doing a quick comparative analysis of those GDP figures, I don't suppose you have them to hand, do you.