Intelligence v business savvy

Alan Sugar obviously employs an accountant.

It’s easy to say earning 100k is a ‘privileged position’ but to get to that level of earnings you’re likely to have been to Uni and have a job with a decent measure of responsibility which you wouldn’t have earning 20k.

I think the point is Alan Sugar’s lack of understanding as to how income tax is calculated.

40% up to £150.000 at the moment I think. No idea what Sugar was thinking really as even if there was a 70% Tax band it would only apply to the amount above £100.000.

He got a real ribbing on Twitter. He doesn’t take criticism well!

I won’t be applying to become his next apprentice :wink:

1 Like

Absolutely.
Most people seem to forget, or don’t know that company directors have an legal responsibility that their lesser paid colleagues do not have.
The Government through IR 35 has decimated the private contracting industry, which is where the best brains are to be found.
Retirement for us, especially after seven years when the tax liability ceases, has brought peace of mind.
We always followed best practice, but had to insure against tax investigations.
Ironic, really in that we were saving the taxpayer a large amount of money advising on government procurement.