2014/15 Correct Tax Paid?

dampsquib

I've got this mate .... well, I say mate, but he's more a sort of boss that I have to tolerate.
A few of us were talking and wondering if Dave paid his taxes.
To reassure us, Dave has given us some details for 2014/15:
Total Taxable Income £200,307
Income Tax Paid £75,898
I calculate his tax due though at £76,265.15
£31865,00 @ 20% = £6373.00 +
£118,135.00 @ 40% = £47,254.00 +
£50307.00 @ 45% = £22638.15
Whose figure's are correct? Mine or Dave's?
Does Dave owe £367.15?
To be fair, it may be that some information is missing, as (understatement) Dave has been a bit coy about the amount of detail he's shared.

Bluebirdman_of_Alcathays

You have no idea of his pension contributions, gift aid donations or child benefit recharge. Or benefits in kind. Or any under/overpayment from prior years. Etc......

badmemory

I'm assuming this is a joke. After all, who is going to bother cheating the tax man out of under £400 when they are paying over £70k in tax. It just wouldn't be worth the effort. If it isn't a joke then Dampsquib must really hate the guy.

dampsquib

badmemory wrote: »

I'm assuming this is a joke. After all, who is going to bother cheating the tax man out of under £400 when they are paying over £70k in tax. It just wouldn't be worth the effort. If it isn't a joke then Dampsquib must really hate the guy.

It was a serious, albeit slightly tongue-in-cheek, question.
'really hate' is a bit strong, but 'Dave' is a very long way from appearing on my Christmas card list.
If my calculation is correct, I suspect the discrepancy is due to Dave claiming gift-aid tax relief. Perhaps Dave didn't want us to know that he claims every last penny of the additional relief he was due?
The guy in the next office (George) has also given us a summary for 2014/15, but his discrepancy appears to be a 4 digit amount.
I'm just surprised that I seem to be the only one in the country to bother to check the figures and wonder.
That guy that works across the way: Jeremy, has bravely revealed all his figures, warts'n'all. He doesn't seem to have bothered claiming his additional gift-aid relief, but I despair that he forgot to include details of his pensions on his SA return and also failed to get it in before the deadline.

Bluebirdman_of_Alcathays

dampsquib wrote: »

It was a serious, albeit slightly tongue-in-cheek, question.
'really hate' is a bit strong, but 'Dave' is a very long way from appearing on my Christmas card list.
If my calculation is correct, I suspect the discrepancy is due to Dave claiming gift-aid tax relief. Perhaps Dave didn't want us to know that he claims every last penny of the additional relief he was due?
The guy in the next office (George) has also given us a summary for 2014/15, but his discrepancy appears to be a 4 digit amount.
I'm just surprised that I seem to be the only one in the country to bother to check the figures and wonder.
That guy that works across the way: Jeremy, has bravely revealed all his figures, warts'n'all. He doesn't seem to have bothered claiming his additional gift-aid relief, but I despair that he forgot to include details of his pensions on his SA return and also failed to get it in before the deadline.

Thus has to be one of the most misguided posts on this board. Have a good read around the subject of tax. You've clearly spent some hours of your life trying to nail the tax return of the most audited man in the country. For goodness sake surely your time is worth more to you than that?!

ffacoffipawb

AT least Dave got his tax returns in on time and wasn't fined, unlike the leader of the money tree benefits party.

Who also apparently has no savings, spends the lot, as he declared no interest either.

Labour lives as Labour does,

dampsquib

No flaws in my '5 minute' calculation have been pointed out, so I assume my figures must be correct.
I'm also surprised that many of our politicians receive no taxable interest whatsoever! I see Mr Osborne is more financially astute though - he receives a massive £3 in bank interest in 2014/15.
I'm not a SNP supporter, but well done Nicola Sturgeon for sharing your full flawless(?) Tax Return.