Income tax bands - Page 3 - SV650.org

20-01-11, 04:18 PM

Quote:

Originally Posted by specialone

Yes mate i know how it works, you still need to earn over that figure for it to affect you though.

Hence why I said it wasn't directed at you...

20-01-11, 04:19 PM

Quote:

Originally Posted by EssexDave

Until you take into account the2.5% increase taken on any "luxury items" you spend on. Including bike protective gear (other than helmets) and bottled water, chocolate biscuits or pretty much anything other than the bare essentials. Fuel, you'll already be paying about 4-5p a litre more than a few months ago, with more duty increases in April and possibly again later in the year.

You've then got inflation at 3.3% and with shops increases some prices to cover up losses elsewhere, that £300 probably doesn't look to good.

I know I know I know lol. I was just trying to be positive

20-01-11, 04:22 PM

Quote:

Originally Posted by Luckypants

It appears they are doing this to prevent 40% tax payers benefiting from the £1000 increase in personal allowance. Apparently tax neutral for higher rate payers, but I would like to see the figures on that, because to make it neutral surely the threshold just comes down by 1K?

Say whaaat? I got my letter through with my new tax code and my personal allowance has gone up £20 as far as I can make out

. From 000611L to 000613L. So my previous PA was £6,110 and now its £6,130 right?

20-01-11, 04:23 PM

Changes dont come in until April.

Stu · 20-01-11, 04:42 PM

Quote:

Originally Posted by Stig

You only get the higher tax band on anything you earn over the threshold. Or am I wrong?

correct

20-01-11, 04:44 PM

Ah right, just testing

Cheers

Biker Biggles · 21-01-11, 01:57 PM

More stealth taxes.I blame Gordon Brown.We should get rid of him ASAP.

21-01-11, 02:22 PM

Quote:

Originally Posted by Biker Biggles

More stealth taxes.I blame Gordon Brown.We should get rid of him ASAP.

???

Biker Biggles · 21-01-11, 02:33 PM

Its my warped sense of ironic humour mate.

Dave20046 · 21-01-11, 05:59 PM

Quote:

Originally Posted by Stig

You only get the higher tax band on anything you earn over the threshold. Or am I wrong?

You are correct, was just about to say this.

So G if you're on 35k and your 2.5 % payrise puts you up to £35,352.50 you'll be paying 40% on that £352.50....
Imagine that's good news if you were expecting to be giving away 40% of your £35 odd k

20-01-11, 04:23 PM	#24
Reeder Guest Posts: n/a	Re: Income tax bands Changes dont come in until April.

20-01-11, 04:44 PM	#26
benji106 Guest Posts: n/a	Re: Income tax bands Ah right, just testing Cheers

21-01-11, 01:57 PM	#27
Biker Biggles Member Mega Poster Join Date: Jan 2005 Location: Barnet Herts Posts: 5,071	Re: Income tax bands More stealth taxes.I blame Gordon Brown.We should get rid of him ASAP. __________________ On a clear day we stand there and look further than the ordinary eye can see.

21-01-11, 02:33 PM	#29
Biker Biggles Member Mega Poster Join Date: Jan 2005 Location: Barnet Herts Posts: 5,071	Re: Income tax bands Its my warped sense of ironic humour mate. __________________ On a clear day we stand there and look further than the ordinary eye can see.

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