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Title: Any number crunchers on here? Post by: Sussex on Monday, September 5, 2005, 22:09:10 Or more specifically, people who know about tax.
I'm down to the last three for a new job and it's a bit of a hike in wages if I get it. Isn't there a point at which the amount you earn means the tax you pay goes up a shed load (40k?). I'm gay when it comes to this sort of stuff so any advice would be grateful, thanks. Title: Any number crunchers on here? Post by: yeo on Monday, September 5, 2005, 22:11:13 Mrs Spacey is the TEF tax advisor.
Title: Any number crunchers on here? Post by: Bedford Red on Monday, September 5, 2005, 22:12:53 32,400 is the amount it goes up to 40%.
http://www.adviceguide.org.uk/index/life/tax/income_tax_rates/index/life/tax/income_tax_rates.htm#IncomeTaxRatesIncometaxcurrentyear Title: Any number crunchers on here? Post by: sonicyouth on Monday, September 5, 2005, 22:12:59 don't ask Sandy Gray.
Title: Any number crunchers on here? Post by: Sussex on Monday, September 5, 2005, 22:15:19 Really, I thought she was in marketing. Maybe I dreamt it.
Ah, sorry Spacey :? :D Title: Any number crunchers on here? Post by: Sussex on Monday, September 5, 2005, 22:17:17 Quote from: "Bedford Red" 32,400 is the amount it goes up to 40%. http://www.adviceguide.org.uk/index/life/tax/income_tax_rates/index/life/tax/income_tax_rates.htm#IncomeTaxRatesIncometaxcurrentyear Thanks for the link Bedford. Bollocks :| Title: Any number crunchers on here? Post by: yeo on Monday, September 5, 2005, 22:17:26 Im sure shes given advice on here about such matters.
and good luck with the job... Title: Any number crunchers on here? Post by: Bedford Red on Monday, September 5, 2005, 22:21:02 Good luck with the job as well.
At least if you're paying more tax then you're earning decent money. And it's only 40% on anything over 32.400 not all of it so it's not as bad as it sounds. Title: Any number crunchers on here? Post by: mrs_spacey on Monday, September 5, 2005, 23:05:12 Its about £36k but as your tax rate goes up the National Insurance rate goes down so effectively the increase is only 8% - hardly a hike :roll: .
You don't first pay any tax or National Insurance on the first £4895 (0%). On the NEXT £2090 you pay tax at 10% + NI of 11% (22%) On £2,090 to £32,400 you pay tax at 22% + NI of 11% (33%) On anything above this you pay tax at 40% +NI of 1% (41%) Title: Any number crunchers on here? Post by: ron dodgers on Monday, September 5, 2005, 23:42:14 when did they start charging 1% NI above 32400? Bastards - I thought it was capped?
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