This 10p tax rise thingy...

[Adam Virgo's Shirt]

In a nutshell you get a free of tax amount each year £5,435 if you're on the standard tax code of 543L, then you pay 20% up to £34.600 and 40% over that

Last year you had a free of tax amount of £5,225 then 10% for the next £2,230 and 22% up to £34,600 and 40% over that

So the 10% band is lost but you pay 20% instead of 22% on the next tax band

 

[chez]

I'll go from paying 22p to 20p in the pound.
my missus will go from paying 10p to 20p in the pound.

That means that overall, the government will be f***ing us up the arse.

Surprise.

Actually come to think about it thats exactly what will happen to us. f*** it !!

 

[1066familyman]

Suits me fine, I work hard in my working life so why should i be forced to help the lazy!

Is that straight out of the Jeffrey Archer " I made a million so what's stopping everyone else doing likewise" school of thought, or just a wind up ?

 

[Freddie Goodwin.]

It's not good and it's also not good that nothing has been said about it until now. The fuss should have been made when the budget was debated.

There's an awful lot of ultra rich he are not pulling their weight tax wise, and there's an awfull lot of people who are being given loads of hand outs through the varios tax credits which, in themselves aare cocked right up.

Those on low/moderate pay in full time work but without dependent kids, well, go figure.

 

[BensGrandad]

My sister in law works in a nursing home for 25 hours per week and is now £10 per week worse off than she was a month ago. Because she has no dependant childen and is under pension age she can not claim any benefits like tax credit etc.

Most of her mates at work are in the same boat and I am sure that there are millions like her in the country.

 

[John Bumlick]

I'll go from paying 22p to 20p in the pound.
my missus will go from paying 10p to 20p in the pound.

That means that overall, the government will be f***ing us up the arse.

Surprise.

you love it, you slaaaaags!

 

[Adam Virgo's Shirt]

Because she has no dependant childen and is under pension age she can not claim any benefits like tax credit etc.QUOTE]

Just want to correct you on this - Working Tax Credit doesn't require you to have dependents, I claimed WTC last year when my income was dire so it's worth her looking into it

 

[BensGrandad]

Because she has no dependant childen and is under pension age she can not claim any benefits like tax credit etc.QUOTE]

Just want to correct you on this - Working Tax Credit doesn't require you to have dependents, I claimed WTC last year when my income was dire so it's worth her looking into it

Thanks I will pass that on to her as most of the workers have contacted the homes accountants who say they cannot claim it, maybe because her husband is working so they are not desperate, but I still do not understand why she and millions more, should be expected to work to take him less money.

It would appear that the government are penalising the people they are trying to get back into work..

 

[Barnet Seagull]

If it simplifies taxation in any way it's probably a good thing.

With the way things are going of late, I'd be surprised if something else doesn't come along to re-address the balance.

 

[London Calling]

I agee with Buzzer a classic canon ball thru the foot, the 20% threshold should have been head line news.
The removal of the 10% threshold, is perverse, poor political judgement. It was a Labour and a great initiative in the first place.

People shouldn't have to resort to Working time or other credits, we have tried to obtain benefits for us and the kids, its a nightmare, we are constantly paying £ back and then getting another sub, then "oh we miss calculated".

Remove the bureaucracy, remove the credits and introduce an equitable and understandable tax system.

 

[See-Goals]

Actually come to think about it thats exactly what will happen to us. f*** it !!

Add me to the list. I imagine there are a lot of families out there like mine where one parent working full-time will benefit from the changes where as the other parent who perhaps works part-time to juggle childcare will be hit as a lower earner so basically it evens itself out or potentially works out as a loss.

 

[Pavilionaire]

Put simply, the break-even point is £16,500. Earn more than that and you're better off under the new rules, earn less and you'll be worse off.

 

[Freddie Goodwin.]

The govn has tried to keep the tax rate income tax rate down but have compensated by huge rises in things like council tax.

Then, to try and redress the problem, they have dreamed up the whole tax Credit system which has been a complete farce and has left £millions overpaid, much of it to people who cannot afford to pay it back.

The system was, and still is, so complicated that I know of Revenue friends who are themselves paying back overpayments, some who have even been on teams tasked with collecting overpayments.

Theses overpayments were not widespread fraud or scams but a badly flawed system. I reckon it'll all be written off in the end, but then the burden will have fallen on all taxpayers.

 

[London Calling]

The govn has tried to keep the tax rate income tax rate down but have compensated by huge rises in things like council tax.

Then, to try and redress the problem, they have dreamed up the whole tax Credit system which has been a complete farce and has left £millions overpaid, much of it to people who cannot afford to pay it back.

The system was, and still is, so complicated that I know of Revenue friends who are themselves paying back overpayments, some who have even been on teams tasked with collecting overpayments.

Theses overpayments were not widespread fraud or scams but a badly flawed system. I reckon it'll all be written off in the end, but then the burden will have fallen on all taxpayers.

We get calls every six months or so to pay something back, but the figures keep changing, we are presently totally confused, we haven't claimed for two years, the system can't seem to adapt to a family, which had one child then 2, then 3. Has a woman going on maternity leave. Has earners, whose salary change.

It is a farce! And so unnecessary, and could easily be rectified by minute adaptions to income tax.