Two-lane Posted March 6 Share Posted March 6 Has any journalist asked any MHK how much income has been lost by them not paying for car parking in Douglas? 2 2 Quote Link to comment Share on other sites More sharing options...
english zloty Posted March 6 Share Posted March 6 3 minutes ago, Two-lane said: Has any journalist asked any MHK how much income has been lost by them not paying for car parking in Douglas? great question, got to be at least £30K pa Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted March 6 Share Posted March 6 26 minutes ago, Two-lane said: Has any journalist asked any MHK how much income has been lost by them not paying for car parking in Douglas? Seek and ye shall find. Pre-covid removal, it could have been raising as much as £112k. But we'll spank kids and their families for another £45k a year in order that a shower of entitled twats don't have to contribute more than twice that towards easing our woes. Quote Link to comment Share on other sites More sharing options...
Declan Posted March 6 Share Posted March 6 13 hours ago, Banker said: No as UK NI rates have nothing to do with IOM , same as tax rates. If we followed UK the vast majority of workers would be paying substantially more in taxes Average wage earners pay tax 22% in the IOM and 20% in UK. They pay 11% NI while the UK is 10% and rumoured to be dropping to 8%. VAT is the same. Rates and council tax seem comparable depending on location. How are we paying substantially less tax? 2 Quote Link to comment Share on other sites More sharing options...
Two-lane Posted March 6 Share Posted March 6 What is the commercial rate for a parking place in Douglas? Quote Link to comment Share on other sites More sharing options...
Banker Posted March 6 Share Posted March 6 23 minutes ago, Declan said: Average wage earners pay tax 22% in the IOM and 20% in UK. They pay 11% NI while the UK is 10% and rumoured to be dropping to 8%. VAT is the same. Rates and council tax seem comparable depending on location. How are we paying substantially less tax? Where’s the source for the figures you quoted? Quote Link to comment Share on other sites More sharing options...
The Phantom Posted March 6 Share Posted March 6 31 minutes ago, Two-lane said: What is the commercial rate for a parking place in Douglas? Roughly a grand. 1 Quote Link to comment Share on other sites More sharing options...
The Phantom Posted March 6 Share Posted March 6 34 minutes ago, Declan said: Average wage earners pay tax 22% in the IOM and 20% in UK. They pay 11% NI while the UK is 10% and rumoured to be dropping to 8%. VAT is the same. Rates and council tax seem comparable depending on location. How are we paying substantially less tax? It's all part of the Govt's cunning scheme to banish the tax haven label. But you have missed the fact we get an extra £2k tax free allowance. This can also be doubled up in joint/marriage allowance. But yeah there isn't much difference really versus the UK. It only really becomes a bit better when you hit £38k + earnings. At that point in the UK, you're going to be paying 40% whereas here, you'll still just be paying 22%. At £150k it's 45% Quote Link to comment Share on other sites More sharing options...
woolley Posted March 6 Share Posted March 6 36 minutes ago, Declan said: Average wage earners pay tax 22% in the IOM and 20% in UK. They pay 11% NI while the UK is 10% and rumoured to be dropping to 8%. VAT is the same. Rates and council tax seem comparable depending on location. How are we paying substantially less tax? Our only advantages really for an average earner are the higher free allowance, (£14,500 against £12,570), the 10% band (on the next £6500), and the fact that allowances are fully transferable here between couples. Can make a big difference if one partner isn't working. Adverse difference in NI contributions will erode that. Other costs/benefits are according to individual circumstances. Quote Link to comment Share on other sites More sharing options...
woolley Posted March 6 Share Posted March 6 3 minutes ago, The Phantom said: It's all part of the Govt's cunning scheme to banish the tax haven label. It's the big numbers that the tax haven label attaches to. Zero corporation tax, capital tax and inheritance tax. Then there's the tax cap. Earn 10 million in a year you'd pay pretty much half of it to UK govt. Here, if you elect for 5 years it's only £200,000 a year, so 1 million income tax over 5 years on 50 million. Quote Link to comment Share on other sites More sharing options...
Roger Mexico Posted March 6 Share Posted March 6 1 hour ago, Two-lane said: Has any journalist asked any MHK how much income has been lost by them not paying for car parking in Douglas? The information in the article Non-Believer quoted comes from a question that wasn't asked by a journalist but an MHK (Mr Speaker no less) who asked in September 22: How much in total was received in each year in which public sector car parking was charged for; when charging was suspended; and when he plans to reintroduce it. That produced the following: The total received in each year for public sector car parking is as follows: Car Parking charges were suspended in April 2020, as a result of the Pandemic lockdown, and the number of staff working from home. There are currently no plans to reintroduce charging. There's two things to notice here. Firstly there is no figure given for 2019-20, even though parking was charged for all through that year. It might have been hit by Covid in the last week or two of that, but there's no real reason to not publish the figures. Which suggest the amount may have been even higher, given the pattern above and the loss from not charging even bigger. Secondly this isn't just about Tynwald members. The main beneficiaries from free parking will be civil servants and just complaining about MHKs misses the point. They're all in this together. 5 1 Quote Link to comment Share on other sites More sharing options...
Banker Posted March 6 Share Posted March 6 VAT Threshold upped to £90k so assume that will cost us some money Quote Link to comment Share on other sites More sharing options...
mad_manx Posted March 6 Share Posted March 6 (edited) 50 minutes ago, woolley said: Our only advantages really for an average earner are the higher free allowance, (£14,500 against £12,570), the 10% band (on the next £6500), and the fact that allowances are fully transferable here between couples. Can make a big difference if one partner isn't working. Adverse difference in NI contributions will erode that. Other costs/benefits are according to individual circumstances. Also factor in the mortgage tax relief.. It's only 10% but with current interest rates it will cover a fair bit of the rates It's 5k per person so 10k joint and so maximum of around £1k savings.. I have also noticed that rates (borough + water / sewerage) is less than what my family pay across for council tax + water + sewerage.. Edited March 6 by mad_manx Quote Link to comment Share on other sites More sharing options...
Two-lane Posted March 6 Share Posted March 6 7 minutes ago, Roger Mexico said: Secondly this isn't just about Tynwald members. The main beneficiaries from free parking will be civil servants and just complaining about MHKs misses the point. They're all in this together. This is true. The headline in my letter to the newspapers was "Free parking for MHKs". My intention was to start a revolt amongst the natives, because they are paying the MHKs to look after their interests, and not the interests of themselves and Civil Servants. I assume that after the headline was published, no MHK has been squawking on Facebook or Twitter about how unacceptable the situation is. [My aim of being Ramsey's answer to Bernstein/Woodward has been hampered by me being unable to locate Ramsey's version of Deep Throat] Quote Link to comment Share on other sites More sharing options...
The Phantom Posted March 6 Share Posted March 6 6 minutes ago, Two-lane said: This is true. The headline in my letter to the newspapers was "Free parking for MHKs". My intention was to start a revolt amongst the natives, because they are paying the MHKs to look after their interests, and not the interests of themselves and Civil Servants. I assume that after the headline was published, no MHK has been squawking on Facebook or Twitter about how unacceptable the situation is. [My aim of being Ramsey's answer to Bernstein/Woodward has been hampered by me being unable to locate Ramsey's version of Deep Throat] Arguably parking is a benefit in kind that should accrue tax. Quote Link to comment Share on other sites More sharing options...
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