Fed up of the bragging

LilElvis

just_trying wrote: »

Why would they need to do that? You don't know how much they pay out in various things. The 37k would have tax deducted.

With a sizeable chunk attracting no tax or NIC at all. Tax relief on the (allegedly pitiful) pension contributions too.

Zero_Sum

just_trying wrote: »

Ton of debt are you having a joke! So they can't afford it.

The debt is standard car financing & new kitchen etc.
The repayments are affordable, and they can still afford to go away.
Personally id prefer to pay for 'new' car & kitchen in cash but then im in the minority

just_trying

Like everyone else, you pay ni before tax. And the pension isn't much, so what, that's what they can afford.

Zero_Sum

just_trying wrote: »

Lucky him, is he on the never, never. Depending where you live rent alone can be a big chunk, never mind council tax.

Actually council tax relative to band is quite expensive due to the parish precept
And they own their house. Mortgages tend to be cheaper than rents.

just_trying

Zero_Sum wrote: »

The debt is standard car financing & new kitchen etc.
The repayments are affordable, and they can still afford to go away.
Personally id prefer to pay for 'new' car & kitchen in cash but then im in the minority

Standard debt! Each to there own. Your the one who said there in a ton of debt and still go on holidays. Doesn't seem sensible to me. How can they afford to go away when there in debt having spent someone else's money.

Zero_Sum

just_trying wrote: »

Like everyone else, you pay ni before tax..

What does this even mean?

Tax & NI both come of gross pay.
Pension is tax deductable. Its also NI deductable if on salary sacrifice.
Which ironically given that OP is private sector theres a decent chance of this being the case. And yet his public sector friends who he derides arent allowed salary sacrifice pension.

Zero_Sum

just_trying wrote: »

Standard debt! Each to there own. Your the one who said there in a ton of debt and still go on holidays. Doesn't seem sensible to me. How can they afford to go away when there in debt having spent someone else's money.

Its affordable within their cashflow.
Debt isnt always a bad thing if its for a big purchase thats actually needed.
'Ton' was probably a bit of an exaggeration tbf, just to highlight that holidays are still affordable to someone with committments

just_trying

Zero_Sum wrote: »

Actually council tax relative to band is quite expensive due to the parish precept
And they own their house. Mortgages tend to be cheaper than rents.

Parish, well in Scotland it's on the value of your house. Morgage may be cheaper but if your paying someone else's and can't save enough then your stuck.

LilElvis

Zero_Sum wrote: »

What does this even mean?

Tax & NI both come of gross pay.
Pension is tax deductable. Its also NI deductable if on salary sacrifice.
Which ironically given that OP is private sector theres a decent chance of this being the case. And yet his public sector friends who he derides arent allowed salary sacrifice pension.

It means that the threshold for paying employee's NIC is lower than that for tax - unless you earn more than £125k p.a. in taxable income, in which case you pay tax on every penny earned.

just_trying

Zero_Sum wrote: »

What does this even mean?

Tax & NI both come of gross pay.
Pension is tax deductable. Its also NI deductable if on salary sacrifice.
Which ironically given that OP is private sector theres a decent chance of this being the case. And yet his public sector friends who he derides arent allowed salary sacrifice pension.

It means you can pay zero tax but ni.