UK: no more 10% tax band

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UK: no more 10% tax band

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April 9, 2008 at 12:48 pm

#902440
1

globalloon

@globalloon

Member
BioTech wrote:

What I don’t understand is that some of the reports are stating that people could be up to £250 odd pounds worse off a year.

If it’s jumping from 10% to 20%, hell I’m going to be a lot worse of than that. What am I not understanding?

something to do with the first couple of grand being tax free
April 9, 2008 at 12:57 pm

#902426
6

General Lighting

@general-lighting

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about £5400 of everyones pay is tax free

the old system was the next £2230 was taxed at 10%
then anything above that taxed at 22%

with the new system anything over the £5400 is taxed at 20%

you can find various online calculators. From these I make the cut off point between whether people are better or worse off closer to £15,150 but I would need to check the source data of the online calculators

One day I will try and do a spreadsheet showing this but its not a trivial task. Calculating UK tax correctly is complicated.

As for the “benefits for foreigners”, there may be a reciprocal right for EU citizens to get some child benefit if they bring their kids over here.

If that is the case, the same would apply to anyone who moved to France or Belgium or anywhere else in EU.

For non EU citizens there are a ton of strict conditions stamped on their passports/work permits which say “you must report to Police, you are not eligible for benefits” in bold letters. i’ve seen these conditions with my own eyes on the papers foreign staff at my work have to submit (and HM Immigration can ask to see these at any time).
April 9, 2008 at 1:05 pm

#902458
1

cathdreadhead

@cathdreadhead

Member
the old system was the next £2230 was taxed at 10%
then anything above that taxed at 22%

with the new system anything over the £5400 is taxed at 20%

hmmm…I dont like the idea that anything over £5400 is taxed at 20%
April 9, 2008 at 1:38 pm

#902433
1

BioTech

@biotech

Member
General Lighting wrote:

about £5400 of everyones pay is tax free

Of course. I should have know that. It’s been drummed in to me enough times.

Well, in light of that. It looks like I’ll be about £20 a month worse off. I can live with that. It still takes the piss though.
April 9, 2008 at 2:04 pm

#902470
1

lilmstrixta

@lilmstrixta

Member
JonnyQuest wrote:

i dont know if i can afford to keep working with this, if any female member wants to get married for tax credits jsut hit me up

maybe i should say this too matt good idea

do you want to hear something really funny our payroll has messed up everyone who works in our companys pay and we have all been taxed an extra £20 this week
April 9, 2008 at 3:01 pm

#902427
6

General Lighting

@general-lighting

Moderator
Staff
I was just about to mention that I fear loads of payroll systems are gonna show wrong figures as the codes and software need to be changed.

I have worked with various finance/accounting computer systems over the last 20 years and these are the sort of changes everyone dreads…

There are multiple points at which this could fuck up. When it does, hundreds of people are personally affected.

in most cases decent employers will sort out the problems but the costs of dealing with errors are passed back to the businesses rather than the government.
April 9, 2008 at 3:05 pm

#902463
1

GiantMidget

@giantmidget

Member
I’ve looked into this a bit further and found out that i will be better off due to this tax shit. I’m currently being taxed 22p (Off every pound i think) and now it’s going down to 20p! not alot really but hey it’s a little extra a month! My boss worked it out for me today but ill believe it when i see me paycheck!:love:
April 9, 2008 at 7:08 pm

#902441
1

globalloon

@globalloon

Member
DJCliffy wrote:

I’ve looked into this a bit further and found out that i will be better off due to this tax shit. I’m currently being taxed 22p (Off every pound i think) and now it’s going down to 20p! not alot really but hey it’s a little extra a month! My boss worked it out for me today but ill believe it when i see me paycheck!:love:

i’ll be a few hundred a year better off, but i don’t want to be if it means mugging the lowest earners
April 9, 2008 at 7:16 pm

#902464
1

GiantMidget

@giantmidget

Member
globalloon wrote:

i’ll be a few hundred a year better off, but i don’t want to be if it means mugging the lowest earners

Yeah man same as that. If they (Govt) need the money that badly, surely they could raise it somewhere else instead of fucking people over that really need the money??!! Maybe if they stopped being greedy cunts, this could be achieved but i wouldn’t hold your breath!:you_crazy
April 9, 2008 at 9:09 pm

#902455
1

MisterDuck

@misterduck

Member
they are scared of upsetting the rich landowners by taxing them more, so the target the average joe.

i dont really understand tax. at all. i may need to pay it, but i get cash-in-yand 😉
April 9, 2008 at 9:14 pm

#902477
1

DaftFader

@daftfader

Participant
boothy wrote:

they are scared of upsetting the rich landowners by taxing them more, so the target the average joe.

i dont really understand tax. at all. i may need to pay it, but i get cash-in-yand 😉

yeah your suposed to declair your tax if you get cash in hand
April 10, 2008 at 12:08 am

#902442
1

globalloon

@globalloon

Member
DJCliffy wrote:

Maybe if they stopped being greedy cunts, this could be achieved but i wouldn’t hold your breath!:you_crazy

but get it. there is no overall tax win for the govt. the increase for lower earners is purely to pay for middle earners to get a tax reduction from 22% to 20%

it is pure cynical politics. they think that by reducing tax for the middle classes and medium earners by a few hundred a year, they will win over some tory votes

by selling out all the values of the labour party, ie. fairness, equality, a decent wage for a decent days work
April 10, 2008 at 12:10 am

#902456
1

MisterDuck

@misterduck

Member
DaftFader wrote:

yeah your suposed to declair your tax if you get cash in hand

do tips count in tax?

cos in wages i am just under…
April 10, 2008 at 2:05 am

#902476
1

Dom_sufc

@dom_sufc

Member
boothy wrote:

have you got a source for that? not doubting you but because of my local pub i’ve become very skeptical of the “immigrant benefits” stuff the daily mail usually spouts

if anything it’s becoming harder to move into the uk now

Ok, I feel daft now. My old dear told me… Im usually sceptic about these things when people tell me them, and wouldn’t usually trust what people tell me unless I see proof, but Its me mum ya know 🙂

Sorry, I shouldn’t have posted unless I definitely knew, but I never thought to question her.

My mistake :shy:
April 10, 2008 at 10:39 am

#902444
1

elretardo87

@elretardo87

Member
I checked thisthing and I’ll be better off so I’m cool….

http://news.bbc.co.uk/1/hi/in_depth/629/629/7290230.stm

Although I do think its funny how the news keep going on about how we are having another 90’s….so maybe we will learn stand up for ourselves again.
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