How much tax would a £10 note earn for the chancellor in its lifetime?

Answer 1

i have to charge a customer 1.45pence for every 1.00 i want in my pocket........if i charged them 1.00 then good old gordon would take 22% tax and 8% NI =30% leaving 70pence for me BUT.i need a pound so i have to charge 1.45 approx to get it.....when you see your ten pound note he already took the tax and is waiting till you spend it to have another bash at it and of the poor sod who took it of you at the 1.45 he needs to get his pound before spending it

Answer 2

You could try doing an estimate ...

1) How long does a paper note last before it is too warn out to be used again ? (I would guess 4 or 5 years ??)

2) How often do £10 notes change hands? Here I have no idea

You can then assume 17.5% VAT on every transaction (would be more if it's used to pay for Fags, Beer, Wine or Petrol etc).

Answer 3

Life of a tenner is 7 months.
If it's in my wallet, it'll only be used to buy beer and cigars, and with any luck I won't have to buy a round, so it could earn him nothing.
In the real world it should circulate once every day so it could earn him 365*17.5%.