[Gllug] [OT] Times Article on ABD was Fighting a virus

[David Damerell]

On Wednesday, 21 Feb 2007, Mike Brodbelt wrote:
>Christopher Hunter wrote:
>> On Wed, 2007-02-21 at 21:03 +0000, John Winters wrote:
>>>To make that completely clear - if I do a bit of work for you, and the 
>>>work is subject to all the usual tax charges (VAT, both slices of NI, 
>>>and Income Tax at 23%) then for each pound which you hand over, the 
>Don't forget you pay VAT on a lot of your outgoings as well, which
>whacks that figure straight up to 70%.

Of course, if creative accounting isn't enough, you can just use plain
old innumeracy. If John's 53% is right (and it assumes I'm a
contractor payments for whose services are subject to VAT, which I'm
not), you can't then add 17.5% to that 53% and get 70% for the effect
of VAT on the remaining 47%.

-- 
David Damerell <damerell at chiark.greenend.org.uk> Distortion Field!
Today is Gloucesterday, February.
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