Tax Tables Here
Hi there Tony
You will find them on this website. I searched under 'Budget 2006'but you will find here - https://www.accountingweb.co.uk/downloads/Tax2006_07.pdf.
I wonder if this makes the dividend tax redundant?? or whatever
Extending pensionable age
Whilst all these reports understandably concentrate on the financial burden to the taxpayer, how many of us are lucky enough to be in a permanent job by the time we reach 60!! May if you are a public sector worker, but out there in the private sector ageism is rife.
I am over 50, worked over 30 years in commerce/industry as senior accountant, but now in the last few years cannot get a worthwhile job, not even an interview - employers just look at DOB not abilities.
Until the government rectifies this seriuos social problem, I cannot see much point in extending retirement age when most people 50-70 are lucky to be in a part time job without any pension prospects at all.
THe older we get the poorer we become. Most older workers are selected for redundancy and I have seen a lot of these.
Despite ageism laws in Oct 2006, no one cares about older workers, the attitude today is to employ young and pay cheap, experience counts for nothing.
Those in protected civil servant/government positions have no idea what the real world is like. Time to wake up to reality. Address the employment problem first then talk about retirement reality. I work from home on low earnings because the job market offers me nothing at age 56.
What about director fraud
In a small company, I was Financial Controller, and valued my integrity. However I saw many private transactions which were made to look like company business, for the benefit of the directors on legitimate invoices.
These were never spotted by external auditors, who generally are more interested in keeping their fee than anything else. There was also a large minority shareholder (sleeping) who do nothing about this due to the legal expense that would arise in proving this.
This resulted in large sums of income taxthat should have been payable at higher rate had these been put through as payroll, together with VAT that should not have been claimed.
Ultimately I quit because of the level of dishonesty, reported this to the IR who never took any action.
That was 10 years ago, and I have never been able to get a suitable financial position since. It does not pay to be honest. The point being there is no real mechanism in place to combat this type of commercial fraud - this is more common than dummy invoices. No MLRO then, even so how to report your bosses when you stand to lose your job!!
My reward for this - working as a freelance accountant from home on a part time income!!
Often in small companies it is the owners themselves who are committing the fraud, and this article like many others do not indicate how to combat this - look where it got me.