My biggest concern is that the 50% rate puts our headline tax rates well above our close competitors and acts as a barrier to inward investment and the movement of highly paid, highly skilled workers. This in turn limits GDP growth which is the only way we will get out of this crisis.
I think I would have been more inclined to agree with the above had the assertion not been made that highly paid individuals are highly skilled. Based on experience, there seems to be a rather large number of highly paid people with very little skills. This seems to be borne out by current trend to give out large payments to people who have driven the companies they work for to the edge of failure, and sometimes beyond.
I have come across a lot of divers who, due to the nature of their work, are classed as self-employed as they usually work for several different companies during the year & their tax code's cannot keep pace with their movement.
To this end, they normally have an agreement with HMRC to pay their own taxes, normally by DD & HMRC issue an NT tax code.
My answers
Deductions
If the products are for personal use then there should be no issue as it is not to the employers benefit by attempting to get round the legislation.
If the deductions are made for items to be used in the ply of their trade then they should be included in the calculation of the NMW.
http://www.businesslink.gov.uk/bdotg/action/detail?itemId=1096712889&r.i=1096713063&r.l1=1073858787&r.l2=1084822773&r.l3=1081657912&r.l4=1096705577&r.s=m&r.t=RESOURCES&type=RESOURCES
A simple way around this would be to pay the wages without the deductions & make the sale separately.
Putting on my lottery ticket...
...in the desperate hope that I can escape the rat race early & spend a little more time doing the things I want to instead of the things I need to.
Highly Paid = Highly Skilled?
I think I would have been more inclined to agree with the above had the assertion not been made that highly paid individuals are highly skilled. Based on experience, there seems to be a rather large number of highly paid people with very little skills. This seems to be borne out by current trend to give out large payments to people who have driven the companies they work for to the edge of failure, and sometimes beyond.
Self Employment
I have come across a lot of divers who, due to the nature of their work, are classed as self-employed as they usually work for several different companies during the year & their tax code's cannot keep pace with their movement.
To this end, they normally have an agreement with HMRC to pay their own taxes, normally by DD & HMRC issue an NT tax code.