woohoo

[djchewie]

upper tax bracket has been increased

 

[sandi]

To what?

 

[djchewie]

To what?

10% first £2,090
22% next £30,310
40% £36767 and over

according to my letter from the Inland Rev


still, im sure i wont be that much better off cos im sure they'll fleece ya by other means.

 

[naddyz]

10% first £2,090
22% next £30,310
40% £36767 and over

according to my letter from the Inland Rev


still, im sure i wont be that much better off cos im sure they'll fleece ya by other means.

they've changed the bottom one, you didn't have to pay tax until you earnt 4900 before right? or am I wrong?

 

[djchewie]

they've changed the bottom one, you didn't have to pay tax until you earnt 4900 before right? or am I wrong?

you start paying tax (at 10%) on £4,367

Tax free allowance for people under 65 @ April 2007 is £5035

 

[naddyz]

you start paying tax (at 10%) on £4,367

Tax free allowance for people under 65 @ April 2007 is £5035

see that doesn't make sense to me - do you pay tax on the stuff between 4367 and 5035 or not?

 

[djchewie]

see that doesn't make sense to me - do you pay tax on the stuff between 4367 and 5035 or not?

eg:

you take home £30,000

you get £5035 TAX FREE

that leaves £24,965 to be taxed at 22%

does that make sense?

 

[naddyz]

eg:

you take home £30,000

you get £5035 TAX FREE

that leaves £24,965 to be taxed at 22%

does that make sense?

yeah, but what's the 10% on amounts above 4thousand 3hundred and something all about?

 

[djchewie]

yeah, but what's the 10% on amounts above 4thousand 3hundred and something all about?

oh i dont know!

ask an accountant!



as a rough rule, i take off 33.5% for tax and NI.

 

[naddyz]

oh i dont know!

ask an accountant!



as a rough rule, i take off 33.5% for tax and NI.

ok!


at least I wasn't being completely stupid if you don't get it either

 

[Beckiboo]

Depending on what you earn, this is how much you get taxed. It used to be:

£2020 @ 10%
£29380 @ 22%
anything over £31400 @ 40%

So if you earn £25000 you'll get taxed 22% of that. Unless you're a rich b1tch like Chewie who obviously earns in the top tax brand bracket

Trust me Im an accountant

 

[Morbyd]

I'd still be in the top bracket. Thank god for Russia's 13% flat tax on income

 

[djchewie]

Unless you're a rich b1tch like Chewie who obviously earns in the top tax brand bracket

now the scumbags have raised the threshold, im no longer a rich bitch!