How do i ever afford a Gallardo?
Discussion
Peterpetrole said:
Ferruccio said:
Every time a friend succeeds, a small piece of me dies.
That old adage seems true of too many on here.
It s one of the reasons the US has a much higher living standard than the UK.
Thanks God I don't have any successful friends.That old adage seems true of too many on here.
It s one of the reasons the US has a much higher living standard than the UK.
Adam. said:
kbf1981 said:
If you own a business earn over £100k you effectively pay 70% tax
How?So if you own the business:
- you pay 15% "employers" on your own salary (your business, if you're 100% shareholder, all comes off your profit you've made)
- you pay 11% employees NI on your own salary
- you pay 40% income tax then 45%
45+15+11 = 71%
So if you are the 100% owner of the business and earn top 1% money (£300k), you effectively are well into the 70% tax bracket
then you pay 20% vat, vat on school fees, council taxes and other taxes. 80% tax easy on the value you create
Pandox2096 said:
kbf1981 said:
The US is vastly more successful than the uk for exactly that reason
The uk is poorer than Mississippi
Mississippi is the poorest state in the USA
The uk says successful people are fortunate - the more fortunate , the less fortunate . That means uk people are trained to believe success is luck, and therefore to resent anyone who does well
It punishes success
If you own a business earn over £100k you effectively pay 70% tax
The top 1% (£300k pa from memory), pay 33% of all tax, but the government still say they re not paying they d fair share .
53% of the uk earn more from benefits than work
1 in 5 young people is on disability payments, usually for mental health
The uk is soft now. We ve destroyed a once great nation with weakness and laziness and institutionalised jealousy
The country ruled 70% of the known world at one point
Now 48% of the country is taken in tax and mostly spent on inefficiency and benefits
I know of zero entrepreneurs not taking advice on leaving
As if it wasn t enough to be paying most of the tax, then being shamed for having built up a business, and being the target of crime, and getting jealousy everywhere you go, you are then told you are not doing your fair share
.when you work constantly, take risk constantly, and support most of the country through creating jobs, innovation, and tax
Imagine if an entrepreneur could claim disability payments for anxiety ? We re all anxious, many of us have OCD, ADHD and autistism lol, we just didn t accept having an average life
Life s hard. If only the British would accept it
It depends on how you measure success.The uk is poorer than Mississippi
Mississippi is the poorest state in the USA
The uk says successful people are fortunate - the more fortunate , the less fortunate . That means uk people are trained to believe success is luck, and therefore to resent anyone who does well
It punishes success
If you own a business earn over £100k you effectively pay 70% tax
The top 1% (£300k pa from memory), pay 33% of all tax, but the government still say they re not paying they d fair share .
53% of the uk earn more from benefits than work
1 in 5 young people is on disability payments, usually for mental health
The uk is soft now. We ve destroyed a once great nation with weakness and laziness and institutionalised jealousy
The country ruled 70% of the known world at one point
Now 48% of the country is taken in tax and mostly spent on inefficiency and benefits
I know of zero entrepreneurs not taking advice on leaving
As if it wasn t enough to be paying most of the tax, then being shamed for having built up a business, and being the target of crime, and getting jealousy everywhere you go, you are then told you are not doing your fair share
.when you work constantly, take risk constantly, and support most of the country through creating jobs, innovation, and tax
Imagine if an entrepreneur could claim disability payments for anxiety ? We re all anxious, many of us have OCD, ADHD and autistism lol, we just didn t accept having an average life
Life s hard. If only the British would accept it
The USA trails other developed countries in measures of inequality, gun crime (approx 60x), access to health care, life expectancy (mainly due to preventable causes: cardiovascular, drugs, firearms, car crashes) etc.
https://www.commonwealthfund.org/publications/fund...
I m not sure the USA really is more successful than the U.K.
I wouldn t want to move there even though I would certainly be in one of the advantaged groups in that society.
Remembered the adage about a society being judged on how it treats its most vulnerable? The US system seems based on the opposite principle!
Like everywhere, it depends where you are.
Top tax bracket for couples is $600k+ and you can set against it child care costs, mortgage interest relief etc. Taxes are half.
In terms of access to health care, you dont get that in the UK. I go private for everything as its cheaper for me to pay than it is to wait all day and lose a day of work in the NHS.
In the USA in California, health insurance would be $25k for a family. That's less than the tax bill here by a mile, and the quality of healthcare is higher. So its £15k, which is £1200 a month, or about the cost of leasing a range rover.
What's cheaper? 70% tax or £1200 a month if you're earning £100k+?
The USA is based on get off your ass and do something - not 53% of the UK being dependent on benefits and 1 in 5 young people pretending to be mentally ill, with everyone else paying for it.
Why should i take money away from my children and give it to people I've never met? I'd pay 20% tax, but not 70%, especially when you still get called names anyway
RTPT said:
trails said:
Maybe you should check the reg plate that is his username... a lot of bitter and jealous people on this threadEdit: I'm not going to spill the beans but OP has a few successful companies that check out on companies house
I'm intrigued as how you have drawn those conclusions, Mr Secret Squirrel with oh so special knowledge you tease with but don't share, come on regale me with your insight...
Edited by trails on Friday 7th November 15:25
kbf1981 said:
Adam. said:
kbf1981 said:
If you own a business earn over £100k you effectively pay 70% tax
How?So if you own the business:
- you pay 15% "employers" on your own salary (your business, if you're 100% shareholder, all comes off your profit you've made)
- you pay 11% employees NI on your own salary
- you pay 40% income tax then 45%
45+15+11 = 71%
So if you are the 100% owner of the business and earn top 1% money (£300k), you effectively are well into the 70% tax bracket
then you pay 20% vat, vat on school fees, council taxes and other taxes. 80% tax easy on the value you create
OP HERE:
Honestly I'm lost for words on where to start, I did debate if a reply is needed and if I really need to justify myself to grown men potentially twice my age.
It shocking to see stereotypes about me from my dress sense to the way I might look which is crazy like I'm not allowed to wear what I like on a weekend (when the original pic was taken I posted on collection day).
I made this thread 10 years ago dreaming about a Lamborghini, I worked my ass off hard and then when I finally achieve my dream car and I'm met with a lot of hate because I wanted some sort of privacy about the exact businesses I'm in simply because everything is available online nowadays and you can find anything if you look hard enough?
Then I am getting accusations I'm a drug dealer or don't even own the car?!
Why would I return 10 years later to a post I made & then pretend I bought my dream car.. make it make sense!
Anyway since everyone is so keen to know the exact commodity I am mainly a Coffee & Tea merchant and have been for 10 years+ with my brother knocking on doors and cold calling the old fashioned way. it certainly didn't come easy and for every 50 Nos we got some yeses.
I also have an ecommerce business I started with my partner too selling products online initially organically & became really interested in advertising and then used this passion to learn it to scale up.
The reality is there is money in anything if you want it hard enough, work hard enough and you are prepared to sacrifice EVERYTHING to get there.
That is what I would of told 18 year old me 10 years a go.
I'd say pick something you're interested in so at least so when the chips are down and It's not going as well you won't resent it as much.
There will be ups and there will be downs but you have to have to show up everyday now matter how you feel.
Relentless hard work, dedication & consistency will only result in success.
To clarify this post was not about "showing off" it was about being proud to achieve my childhood dream. Stupidly I thought coming back after 10 years to update my progress would be met with appreciation from supposed fellow Gallardo lovers of such a rare edition in the thread created SPECIFICALLY for Gallardos / Huracans however this was not the case.
My plate is finally on the car which is why LP57OOK doesn't check out.
I returned it to the previous owner as he requested I gave him back his plate to which I kept my word.
If anyone has anymore questions / hate to throw my way you can always search my username here on insta or tiktok and you'll find lots of pictures and videos of the supercar I don't own and stood in front to take a picture of to pretend I achieved my dream
Thanks to everyone who was positive and can appreciate one of the most rare gallardo variants that exist, it is a future classic in the making for sure.
Custard Test (which I had to google the meaning) should suffice in these lovely shots of my Rosso Mars Lamborghini Gallardo Performante Spyder.
Honestly I'm lost for words on where to start, I did debate if a reply is needed and if I really need to justify myself to grown men potentially twice my age.
It shocking to see stereotypes about me from my dress sense to the way I might look which is crazy like I'm not allowed to wear what I like on a weekend (when the original pic was taken I posted on collection day).
I made this thread 10 years ago dreaming about a Lamborghini, I worked my ass off hard and then when I finally achieve my dream car and I'm met with a lot of hate because I wanted some sort of privacy about the exact businesses I'm in simply because everything is available online nowadays and you can find anything if you look hard enough?
Then I am getting accusations I'm a drug dealer or don't even own the car?!
Why would I return 10 years later to a post I made & then pretend I bought my dream car.. make it make sense!
Anyway since everyone is so keen to know the exact commodity I am mainly a Coffee & Tea merchant and have been for 10 years+ with my brother knocking on doors and cold calling the old fashioned way. it certainly didn't come easy and for every 50 Nos we got some yeses.
I also have an ecommerce business I started with my partner too selling products online initially organically & became really interested in advertising and then used this passion to learn it to scale up.
The reality is there is money in anything if you want it hard enough, work hard enough and you are prepared to sacrifice EVERYTHING to get there.
That is what I would of told 18 year old me 10 years a go.
I'd say pick something you're interested in so at least so when the chips are down and It's not going as well you won't resent it as much.
There will be ups and there will be downs but you have to have to show up everyday now matter how you feel.
Relentless hard work, dedication & consistency will only result in success.
To clarify this post was not about "showing off" it was about being proud to achieve my childhood dream. Stupidly I thought coming back after 10 years to update my progress would be met with appreciation from supposed fellow Gallardo lovers of such a rare edition in the thread created SPECIFICALLY for Gallardos / Huracans however this was not the case.
My plate is finally on the car which is why LP57OOK doesn't check out.
I returned it to the previous owner as he requested I gave him back his plate to which I kept my word.
If anyone has anymore questions / hate to throw my way you can always search my username here on insta or tiktok and you'll find lots of pictures and videos of the supercar I don't own and stood in front to take a picture of to pretend I achieved my dream
Thanks to everyone who was positive and can appreciate one of the most rare gallardo variants that exist, it is a future classic in the making for sure.
Custard Test (which I had to google the meaning) should suffice in these lovely shots of my Rosso Mars Lamborghini Gallardo Performante Spyder.
ks to the rest of 'em!!MDL111 said:
kbf1981 said:
Adam. said:
kbf1981 said:
If you own a business earn over £100k you effectively pay 70% tax
How?So if you own the business:
- you pay 15% "employers" on your own salary (your business, if you're 100% shareholder, all comes off your profit you've made)
- you pay 11% employees NI on your own salary
- you pay 40% income tax then 45%
45+15+11 = 71%
So if you are the 100% owner of the business and earn top 1% money (£300k), you effectively are well into the 70% tax bracket
then you pay 20% vat, vat on school fees, council taxes and other taxes. 80% tax easy on the value you create
Pay 25% tax
£75 left
40% dividend tax
Keep £45
So just 55% tax
Wonderful
There are pros and cons to salary vs dividends and pensions and all sorts that is too long to go into here
OP - I don't drink tea or coffee myself (!!!!) but I think you've obviously achieved great success and that should be congratulated.
I think success stories like yourselves (and others of similar ilk) should be heard as motivation for other young people. I'm probably being a bit old but I can't find your company online - you should be shouting about it!
I think success stories like yourselves (and others of similar ilk) should be heard as motivation for other young people. I'm probably being a bit old but I can't find your company online - you should be shouting about it!
kbf1981 said:
So earn £100 profit
Pay 25% tax
£75 left
40% dividend tax
Keep £45
So just 55% tax
Wonderful
There are pros and cons to salary vs dividends and pensions and all sorts that is too long to go into here
look on the bright side - it is less than where I live and less than where I am originally from. Pay 25% tax
£75 left
40% dividend tax
Keep £45
So just 55% tax
Wonderful
There are pros and cons to salary vs dividends and pensions and all sorts that is too long to go into here
I agree that taxes in most European countries are generally too high for successful people, who are not successful enough to structure their income in a way that it falls outside the various countries. It is less than ideal for stimulating economic activity and the creation of jobs.
MDL111 said:
Peterpetrole said:
Ferruccio said:
Every time a friend succeeds, a small piece of me dies.
That old adage seems true of too many on here.
It s one of the reasons the US has a much higher living standard than the UK.
Thanks God I don't have any successful friends.That old adage seems true of too many on here.
It s one of the reasons the US has a much higher living standard than the UK.
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