[News] Do you pay more than the basic rate of Income Tax?

[Papak]

No, not a Monopoly question, do you earn over the HMRC threshold for an increased rate of income tax?

https://www.bbc.co.uk/news/business-61996117

Higher rate taxpayers paying 40% earn £43,663 or over in Scotland and £50,271 in England, Northern Ireland and Wales. They do not pay tax on the first £12,570 of earnings covered by the personal allowance.

 

[swindonseagull]

Bit nosey?

 

[albionalbino]

Is the OP working for HMRC?

 

[Blue Valkyrie]

No, I've bubbled under the threshold since 2009.

 

[Papak]

Bit nosey?

Saw the previous thread on outstanding mortgage and thought this was more relevant to everyday circumstances.

 

[Papak]

Is the OP working for HMRC?

No, just a bit nosey (see post #2)

I suspect a lot of us down South were likely either already there or have been dragged into the higher brackets.

Poll results are not public.

 

[A mex eyecan]

do they still do Supertax?

 

[beorhthelm]

6.1m higher rate payers, about 25% of workers.

 

[Herr Tubthumper]

[MENTION=12697]Steve Foster[/MENTION] does

 

[jakarta]

Yes, have two jobs (self employment plus PAYE for my Hourly Paid Lectureship at a London University) plus a Pension from my time working in the Chemical Industry which is also taxed of course - something I find repellent as I paid income tax the first time around.

 

[cheesy77]

6.1m higher rate payers, about 25% of workers.

According to this article its 16%, plus 2% additional rate (45% tax), whilst 82% are paying the basic rate.

https://inews.co.uk/inews-lifestyle...gher-rate-taxpayers-thresholds-frozen-1716429

Sent from my SM-G973F using Tapatalk

 

[dazzer6666]

Used to, now I don't pay any

 

[schmunk]

a Pension from my time working in the Chemical Industry which is also taxed of course - something I find repellent as I paid income tax the first time around.

Your pension contributions would have either been provided tax-free by your employer, or you would have received tax relief on your personal contributions (within varying limits). There shouldn't be any double taxation.

 

[vegster]

Luckily my employer makes sure that I pay an incredibly small amount of Income Tax...just £75.80 of my next pay packet goes in tax.

 

[AmexRuislip]

[MENTION=12697]Steve Foster[/MENTION] does

Is that an early prediction

 

[beorhthelm]

Luckily my employer makes sure that I pay an incredibly small amount of Income Tax...just £75.80 of my next pay packet goes in tax.

solution there is a new job.

 

[LamieRobertson]

What’s income tax…oh sorry ..nah i pay someone a few grand so i dont pay any

 

[Steve Foster]

[MENTION=12697]Steve Foster[/MENTION] does

Thank you for reminding me

 

[Knocky's Nose]

Not any more. I've gone from a high-earner to someone who would probably be better off delivering for Just Eat...

All part of the rich tapestry of life though. I'll be back.

 

[vegster]

solution there is a new job.

Ha Ha, yes, of course it is ! The official Tory " How To Beat Poverty " answer ! And I have tried too but there are not too many openings for a 62 year old bloke these days. Two years ago I almost made it to the interview at the Blood Transfusion Service, thats as close as I got to an annual wage of £21K. Maybe I should get a second job on the checkouts at Morrisons then ? Or, follow Gavin Williamson's lead ?