patroddy Posted January 18, 2012 Report Share Posted January 18, 2012 http://www.hmrc.gov.uk/rates/it.htm. This april the tax free amount will be raised once, more meaning people will have around £500-£600 extra in there bank acounts ...... how do you plan to spend yours?? Quote Link to comment Share on other sites More sharing options...
Defcon5 Posted January 18, 2012 Report Share Posted January 18, 2012 £50 a month? The ever rising cost of fuel will swallow that up Quote Link to comment Share on other sites More sharing options...
nic78 Posted January 18, 2012 Report Share Posted January 18, 2012 *Extra £126...nothing to get too excited about. Quote Link to comment Share on other sites More sharing options...
Koop Posted January 18, 2012 Report Share Posted January 18, 2012 The ever rising cost of fuel will swallow that upThis tbh *sigh* Quote Link to comment Share on other sites More sharing options...
Picola Posted January 21, 2012 Report Share Posted January 21, 2012 Ah, I received one of these lettersNot that I will notice any difference in my monthly salary I bet :/ Quote Link to comment Share on other sites More sharing options...
Defcon5 Posted January 21, 2012 Report Share Posted January 21, 2012 They sent you a letter? Your tax code changes every year, you wouldnt get notified normally Quote Link to comment Share on other sites More sharing options...
patroddy Posted January 21, 2012 Author Report Share Posted January 21, 2012 *Extra £126...nothing to get too excited about.nah its gone from 7475 to 8105 so its abit more than 126 Quote Link to comment Share on other sites More sharing options...
RobG Posted January 21, 2012 Report Share Posted January 21, 2012 and also lowering the threshold that you pay 40% on Quote Link to comment Share on other sites More sharing options...
treblet Posted January 22, 2012 Report Share Posted January 22, 2012 Rich bugger! Quote Link to comment Share on other sites More sharing options...
nic78 Posted January 22, 2012 Report Share Posted January 22, 2012 nah its gone from 7475 to 8105 so its abit more than 126 That's just the amount of 'free pay' you get...so times 630 by 20% and you get £126. It just means you'll pay that much less in tax. Quote Link to comment Share on other sites More sharing options...
marcusgrant Posted January 22, 2012 Report Share Posted January 22, 2012 nah its gone from 7475 to 8105 so its abit more than 126 You pay 100% tax?! That sucks Quote Link to comment Share on other sites More sharing options...
RobG Posted January 22, 2012 Report Share Posted January 22, 2012 Rich bugger! Heh. You think i was fuelling the wassat on a student's wage like? Quote Link to comment Share on other sites More sharing options...
treblet Posted January 22, 2012 Report Share Posted January 22, 2012 Judging by your comment on Nicki's Facebook, you aren't driving it at all Rob! Quote Link to comment Share on other sites More sharing options...
patroddy Posted January 22, 2012 Author Report Share Posted January 22, 2012 That's just the amount of 'free pay' you get...so times 630 by 20% and you get £126. It just meains you'll pay that much less in tax.yer i have since had this explained .... damn ...... well 126 should pay for a few weeks petrol :') Quote Link to comment Share on other sites More sharing options...
RobG Posted January 22, 2012 Report Share Posted January 22, 2012 Judging by your comment on Nicki's Facebook, you aren't driving it at all Rob! *mutters*On the bright side, just look at how much money i'm saving on fuel! Quote Link to comment Share on other sites More sharing options...
Nicki Posted January 23, 2012 Report Share Posted January 23, 2012 Yup, personal allowance increases every April - sometimes more one year than others, depends on how much they've been playing around with tax & national insurance rates and limits during the year and the rate of inflation the economy has seen in the previous year.I went to see a client last week and was discussing pension contributions with him. Spent half an hour merrily discussing the lifetime allowance (£1.5m) and the annual allowance (£50k) and calculating that he can pay a lump sum of £40k into his pension this year on top of his other contributions due to using up residual allowances for the prior 3 years... and then I got back in the car to come back to the office and spent the journey thinking how nice it must be to have to "worry" about exceeding the £50k pension contributions limit each year, as well as having £40k lying around spare that you can afford to pay into your pension as a lump sum, willy nilly.I wish I had his problems. *Sigh* Quote Link to comment Share on other sites More sharing options...
Evl Posted February 6, 2012 Report Share Posted February 6, 2012 Yup, personal allowance increases every April - sometimes more one year than others, depends on how much they've been playing around with tax & national insurance rates and limits during the year and the rate of inflation the economy has seen in the previous year.I went to see a client last week and was discussing pension contributions with him. Spent half an hour merrily discussing the lifetime allowance (£1.5m) and the annual allowance (£50k) and calculating that he can pay a lump sum of £40k into his pension this year on top of his other contributions due to using up residual allowances for the prior 3 years... and then I got back in the car to come back to the office and spent the journey thinking how nice it must be to have to "worry" about exceeding the £50k pension contributions limit each year, as well as having £40k lying around spare that you can afford to pay into your pension as a lump sum, willy nilly.I wish I had his problems. *Sigh*What is it that you do if you don't mind me asking? Quote Link to comment Share on other sites More sharing options...
S41NT Posted February 6, 2012 Report Share Posted February 6, 2012 Should have got him to invest his £40k into a gold plated Lupo gti! Quote Link to comment Share on other sites More sharing options...
Nicki Posted February 6, 2012 Report Share Posted February 6, 2012 What is it that you do if you don't mind me asking?I'm a Chartered Accountant Quote Link to comment Share on other sites More sharing options...
Defcon5 Posted February 6, 2012 Report Share Posted February 6, 2012 With a bit of luck Ill have a new job come April, so this will help dull the pain of the resulting salary drop! Quote Link to comment Share on other sites More sharing options...
Evl Posted February 7, 2012 Report Share Posted February 7, 2012 I'm a Chartered Accountant I'm in need of an accountant for work/tax purposes. Quote Link to comment Share on other sites More sharing options...
Nicki Posted February 8, 2012 Report Share Posted February 8, 2012 I'm probably a bit far away from you to plug my firm really, but PM me if you have any queries/want anything explained etc. Quote Link to comment Share on other sites More sharing options...
jim8 Posted March 1, 2012 Report Share Posted March 1, 2012 and also lowering the threshold that you pay 40% on About bloody time to be honest Quote Link to comment Share on other sites More sharing options...
patroddy Posted March 1, 2012 Author Report Share Posted March 1, 2012 Yup, personal allowance increases every April - sometimes more one year than others, depends on how much they've been playing around with tax & national insurance rates and limits during the year and the rate of inflation the economy has seen in the previous year.I went to see a client last week and was discussing pension contributions with him. Spent half an hour merrily discussing the lifetime allowance (£1.5m) and the annual allowance (£50k) and calculating that he can pay a lump sum of £40k into his pension this year on top of his other contributions due to using up residual allowances for the prior 3 years... and then I got back in the car to come back to the office and spent the journey thinking how nice it must be to have to "worry" about exceeding the £50k pension contributions limit each year, as well as having £40k lying around spare that you can afford to pay into your pension as a lump sum, willy nilly.I wish I had his problems. *Sigh*thats very good if you have to worry about it especially when i worry about earning enough to pay for everything Quote Link to comment Share on other sites More sharing options...
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