The Bishop wrote:
Can you clear up whether those highest and lowest incomes that you cite are gross pay or net pay (i.e. BEFORE tax or AFTER tax)? Seeing as tax was the point of dispute I think that matters in both our arguments, don't you?
In the cases cited above
Disposable income. i.e. After direct taxes and including benefits.
See below for how the various 'incomes' are worked out.
[U]ORIGINAL INCOME[/U] (before taxes and benefits e.g. income from employment/investments
Add on cash benefits e.g. State Pension, housing benefit, tax credits
[U]GROSS INCOME[/U] Before taxes but after benefits
Deduct direct taxes, National Insurance, council tax etc
[U]DISPOSABLE INCOME[/U] (After taxes and benefits)
Deduct indirect taxes e.g. VAT
[U]POST-TAX INCOME[/U]
"We are living in very strange times, and they are likely to get a lot stranger before we bottom out"
Dr. Hunter S Thompson