New Tax Code = More Wonga !! - Page 2

Petetourer · 29th April 2013, 23:44

Quote:

Originally Posted by carlpenn

Thats happening in 2015.......Which is Election Year

Will have to have a look at this, as I thought it was one of the things that came in straight away

Plenty of other things coming in 2015 for election hopes though!! lol....

I take it that there was another reason your tax code changed then ?

carlpenn · 30th April 2013, 06:19

Quote:

Originally Posted by Petetourer

Will have to have a look at this, as I thought it was one of the things that came in straight away

Plenty of other things coming in 2015 for election hopes though!! lol....

I take it that there was another reason your tax code changed then ?

From what I understand, its all part of the same thing. But I don't know exactly how it is worked out

rovexCDTi · 30th April 2013, 07:07

I think i got about an extra £24/25 this month, which is what most people will get. If you are on the minimum wage you get more because it has increased as well as the tax changes. The £24 is a true reflection of what the average person will get.

carlpenn · 30th April 2013, 07:16

Quote:

Originally Posted by rovexCDTi

I think i got about an extra £24/25 this month, which is what most people will get. If you are on the minimum wage you get more because it has increased as well as the tax changes. The £24 is a true reflection of what the average person will get.

Yep, just checked my Last Pay packet and my Wage has gone from £6.08 to a fantastical £6.19

(This rise wasn't due till October originally from what I understood)

That tied in with the Tax Reduction means a Bump up in Wage. I got an extra £36 in Real Wages and the remaining £40 was actually extra hours, still a nice little bump regardless.

Any extra Cash in a Workers pocket is good news

Nice to see the Gov't didn't lower the Minimum Wage as they where thinking of doing in the last couple of Months.

MrDoodles · 30th April 2013, 07:28

Quote:

Originally Posted by carlpenn

Nice to see the Gov't didn't lower the Minimum Wage as they where thinking of doing in the last couple of Months.

Yet!

reworht · 30th April 2013, 16:20

For the tax year 2013 to 2014, the basic personal allowance/tax free amount has increase to £9,440 (they drop the last digit off to create your tax code, hence "944L" etc.) - so you only pay PAYE on earnings above that figure. Obviously, if you have any taxable benefits (company cars etc. etc.), the value of those is used to reduce your tax free amount

The code to be frightened of is "xxxBR" - that usually means that ALL your income will be taxed at the appropriate rate

carlpenn · 30th April 2013, 16:33

Quote:

Originally Posted by reworht

For the tax year 2013 to 2014, the basic personal allowance/tax free amount has increase to £9,440 (they drop the last digit off to create your tax code, hence "944L" etc.) - so you only pay PAYE on earnings above that figure. Obviously, if you have any taxable benefits (company cars etc. etc.), the value of those is used to reduce your tax free amount

The code to be frightened of is "xxxBR" - that usually means that ALL your income will be taxed at the appropriate rate

Or XXXX CUMUL. Thats another Tax on all your earnings

FLYER · 30th April 2013, 18:52

So I was nearly right .

You can earn nearly 10k and not pay tax .

I am such a clever wosname .

sikelsh · 30th April 2013, 20:39

Me too

extra £15 this month!!!

humphshumphs · 1st May 2013, 06:31

Or you could be self employed .... and get a tax bill for all of it in one go (in January

), then they also ask for a 'payment on account' in July which is tax on what you haven't earned yet.

The tax office got a little upset when I asked why I had to pay in advance once, and was told in no uncertain terms... 'Its payment in advance'. I asked why as PAYE was Pay As You Earn and self employed = you give it to us in advance.

Sorry little rant over

30th April 2013, 07:07	#13
rovexCDTi This is my second home MG ZT+ 135 Join Date: Jan 2011 Location: Exeter Posts: 3,626 Thanks: 9 Thanked 42 Times in 26 Posts	I think i got about an extra £24/25 this month, which is what most people will get. If you are on the minimum wage you get more because it has increased as well as the tax changes. The £24 is a true reflection of what the average person will get. __________________ [SIGPIC][/SIGPIC]

30th April 2013, 16:20	#16
reworht This is my second home Honda HR-V 1.6 i-DTEC SE Navi 5dr Diesel Hatchback Join Date: Apr 2012 Location: North Yorks Moors Posts: 14,446 Thanks: 782 Thanked 2,156 Times in 1,497 Posts	For the tax year 2013 to 2014, the basic personal allowance/tax free amount has increase to £9,440 (they drop the last digit off to create your tax code, hence "944L" etc.) - so you only pay PAYE on earnings above that figure. Obviously, if you have any taxable benefits (company cars etc. etc.), the value of those is used to reduce your tax free amount The code to be frightened of is "xxxBR" - that usually means that ALL your income will be taxed at the appropriate rate __________________ [SIGPIC][/SIGPIC] Rodney - you plonker! ... but more commonly known as Rod !

30th April 2013, 20:39	#19
sikelsh This is my second home MGF Join Date: Mar 2010 Location: Boston Posts: 4,865 Thanks: 123 Thanked 281 Times in 178 Posts	Me too extra £15 this month!!! __________________ Si Kelsh

1st May 2013, 06:31	#20
humphshumphs I really should get out more....... No longer a Rover Owner Join Date: Jan 2011 Location: As far east as you can go in the UK and not get wet feet. Posts: 2,273 Thanks: 404 Thanked 309 Times in 246 Posts	Or you could be self employed .... and get a tax bill for all of it in one go (in January ), then they also ask for a 'payment on account' in July which is tax on what you haven't earned yet. The tax office got a little upset when I asked why I had to pay in advance once, and was told in no uncertain terms... 'Its payment in advance'. I asked why as PAYE was Pay As You Earn and self employed = you give it to us in advance. Sorry little rant over __________________ Richard. No longer a 75 owner as my tourer made it to the moon, and died on it's way back. But 1/4 million miles ain't bad.

30th April 2013, 18:52	#18
FLYER Banned rover75 cdti AUTO TOURER 160 bhp. Join Date: Jul 2010 Location: Glasgow Posts: 35,346 Thanks: 2,985 Thanked 3,685 Times in 2,463 Posts	So I was nearly right . You can earn nearly 10k and not pay tax . I am such a clever wosname .