Looks like Blair got out just in time....
#1
Scooby Regular
Thread Starter
Join Date: Aug 2005
Location: Home of Sky cop shows SLOUGH
Posts: 331
Likes: 0
Received 0 Likes
on
0 Posts
Looks like Blair got out just in time....
We all know things have gone up a lot recently and I suppose we will just have to take it in the tradesman's entrance...
Does anyone know if the below its truefor the budget of April 2008.
Income Tax Up 2%
Council Tax another 4.6%
Fule Duty Up 2%
If it isI think it will tip the country over the edge......
Does anyone know if the below its truefor the budget of April 2008.
Income Tax Up 2%
Council Tax another 4.6%
Fule Duty Up 2%
If it isI think it will tip the country over the edge......
Last edited by GOLDMAN 555; 04 February 2008 at 10:43 AM.
#2
Scooby Regular
Join Date: Sep 2006
Location: Worthing..
Posts: 7,575
Likes: 0
Received 0 Likes
on
0 Posts
Income tax won't rise.
In general it is lower (unless you are poorly paid - Nice)
I d think it rather silly that the Government are insisting on all public workers accept no more than 2% pay rise for the next three years, and in the same breath assure us that councils will be capped at a maximum 4.8% rise.
In general it is lower (unless you are poorly paid - Nice)
I d think it rather silly that the Government are insisting on all public workers accept no more than 2% pay rise for the next three years, and in the same breath assure us that councils will be capped at a maximum 4.8% rise.
#4
It's been widely covered in the financial press that Brown wanted to go back on the Pre-Budget announcement from October and implement a 10% hike in basic rate tax. Apparently someone told the press and its now common knowledge.
#5
How can they a Labour govt. possibly charge more income tax for the low paid and pensioners, and allow some public sector workers a 4.8% pay rise?
Do these plonkers ever talk to each other or is it all done on the consensual couch as before!
Les
#7
IT down to 20% making those in the £16-£40k pay scale better off.
Where is the mention of a 2% increase on todays 22%?
Where is the mention of a 2% increase on todays 22%?
Last edited by Mitchy260; 04 February 2008 at 11:14 AM.
Trending Topics
#9
Scooby Regular
Join Date: Aug 2001
Location: Warrington
Posts: 4,554
Likes: 0
Received 0 Likes
on
0 Posts
The horse's mouth. AIUI 10% rate to be abolished, income tax basic rate to be reduced to 20%, but NI to be increased. Overall little change to actual take home pay.
#10
Actually, national average wage increase by £16.54 a month... (Better than a kick in the bollocks i suppose )
£10,000 - £724.09 / £715.63 (-£8.46 pm)
£11,000 - £779.93 / £773.13 (-£6.80 pm)
£12,000 - £835.76 / £830.63 (-£5.13 pm)
£13,000 - £891.59 / £888.13 (-£3.46 pm)
£14,000 - £947.43 / £945.63 (-£1.80 pm)
£15,000 - £1003.26 / £1003.13 (-£0.13 pm) Break Even Point
£16,000 - £1059.09 / £1060.63 (+£1.54 pm)
£17,000 - £1114.93 / £1118.13 (+£3.20 pm)
£18,000 - £1170.76 / £1175.63 (+£4.87 pm)
£19,000 - £1226.59 / £1233.13 (+£6.54 pm)
£20,000 - £1282.43 / £1290.63 (+£8.20 pm)
£21,000 - £1338.26 / £1348.13 (+£9.87 pm)
£22,000 - £1394.09 / £1405.63 (+£11.54 pm)
£23,000 - £1449.93 / £1463.13 (+£13.20 pm)
£24,000 - £1505.76 / £1520.63 (+£14.87 pm)
£25,000 - £1561.59 / £1578.13 (+£16.54 pm) UK National Average
£26,000 - £1617.43 / £1635.63 (+£18.20 pm)
£27,000 - £1673.26 / £1693.13 (+£19.87 pm)
£28,000 - £1729.09 / £1750.63 (+£21.54 pm)
£29,000 - £1784.93 / £1808.13 (+£23.20 pm)
£30,000 - £1840.76 / £1865.63 (+£24.87 pm)
£31,000 - £1896.59 / £1923.13 (+£26.54 pm)
£32,000 - £1952.43 / £1980.63 (+£28.20 pm)
£33,000 - £2008.26 / £2038.13 (+£29.87 pm)
£34,000 - £2064.09 / £2095.63 (+£31.54 pm)
£35,000 - £2121.26 / £2153.13 (+£31.87 pm) Maximum sweet spot
£36,000 - £2185.43 / £2210.63 (+£25.20 pm)
£37,000 - £2249.59 / £2268.13 (+£18.54 pm)
£38,000 - £2313.76 / £2325.63 (+£11.87 pm)
£39,000 - £2377.93 / £2383.13 (+£5.20 pm)
£40,000 - £2439.47 / £2440.63 (+£1.16 pm)
£10,000 - £724.09 / £715.63 (-£8.46 pm)
£11,000 - £779.93 / £773.13 (-£6.80 pm)
£12,000 - £835.76 / £830.63 (-£5.13 pm)
£13,000 - £891.59 / £888.13 (-£3.46 pm)
£14,000 - £947.43 / £945.63 (-£1.80 pm)
£15,000 - £1003.26 / £1003.13 (-£0.13 pm) Break Even Point
£16,000 - £1059.09 / £1060.63 (+£1.54 pm)
£17,000 - £1114.93 / £1118.13 (+£3.20 pm)
£18,000 - £1170.76 / £1175.63 (+£4.87 pm)
£19,000 - £1226.59 / £1233.13 (+£6.54 pm)
£20,000 - £1282.43 / £1290.63 (+£8.20 pm)
£21,000 - £1338.26 / £1348.13 (+£9.87 pm)
£22,000 - £1394.09 / £1405.63 (+£11.54 pm)
£23,000 - £1449.93 / £1463.13 (+£13.20 pm)
£24,000 - £1505.76 / £1520.63 (+£14.87 pm)
£25,000 - £1561.59 / £1578.13 (+£16.54 pm) UK National Average
£26,000 - £1617.43 / £1635.63 (+£18.20 pm)
£27,000 - £1673.26 / £1693.13 (+£19.87 pm)
£28,000 - £1729.09 / £1750.63 (+£21.54 pm)
£29,000 - £1784.93 / £1808.13 (+£23.20 pm)
£30,000 - £1840.76 / £1865.63 (+£24.87 pm)
£31,000 - £1896.59 / £1923.13 (+£26.54 pm)
£32,000 - £1952.43 / £1980.63 (+£28.20 pm)
£33,000 - £2008.26 / £2038.13 (+£29.87 pm)
£34,000 - £2064.09 / £2095.63 (+£31.54 pm)
£35,000 - £2121.26 / £2153.13 (+£31.87 pm) Maximum sweet spot
£36,000 - £2185.43 / £2210.63 (+£25.20 pm)
£37,000 - £2249.59 / £2268.13 (+£18.54 pm)
£38,000 - £2313.76 / £2325.63 (+£11.87 pm)
£39,000 - £2377.93 / £2383.13 (+£5.20 pm)
£40,000 - £2439.47 / £2440.63 (+£1.16 pm)
#11
Scooby Regular
Join Date: Aug 2001
Location: Warrington
Posts: 4,554
Likes: 0
Received 0 Likes
on
0 Posts
As £31.87(x12)/£35000 = 1.1%, I will stand by my statement . When people hear 2% reduction they imagine a 10% saving in tax (2/22), which will not happen unfortunately.
#13
Sorry, dont follow.
In comparison to salary now and in a few months time. Joe Bloggs earning £35000 is going to see a £31.87 increase in his take home pay every month.
Surely thats a good thing?
Not 10%, works out at around 4% though
£35000pa....
Total tax and NI in 2007/8 = £9544.90
Total tax and NI in 2008/9 = £9162.40
Difference of £382.50 per year (£31.87 per month) or around a 4% deduction.
In comparison to salary now and in a few months time. Joe Bloggs earning £35000 is going to see a £31.87 increase in his take home pay every month.
Surely thats a good thing?
Not 10%, works out at around 4% though
£35000pa....
Total tax and NI in 2007/8 = £9544.90
Total tax and NI in 2008/9 = £9162.40
Difference of £382.50 per year (£31.87 per month) or around a 4% deduction.
Last edited by Mitchy260; 04 February 2008 at 02:13 PM.
#14
Scooby Regular
Join Date: Sep 2006
Location: Worthing..
Posts: 7,575
Likes: 0
Received 0 Likes
on
0 Posts
It is if you earn £35K.
Unfortuantely it's the lower paid that are covering the cost of it.
Pretty wrong if you ask me.
#16
Scooby Regular
iTrader: (2)
Lying Labour B@stards!
Alcazar
#17
Scooby Regular
Join Date: Jan 2000
Location: Disco, Disco!
Posts: 21,825
Likes: 0
Received 0 Likes
on
0 Posts
And a further £50M to China. And the b@stards have just refused yet again to write off the Humber Bridge debt, so that Cancer patients from the south bank have to pay an extra £5.40 for their treatment, while prisonersin Hull Jail's wives, girlfriends mates and families can cross for free
Lying Labour B@stards!
Alcazar
Lying Labour B@stards!
Alcazar
<nods>
#21
Scooby Regular
Join Date: Jul 2005
Location: N.Y.S.O.C. - NORTH YORKSHIRE SUBARU OWNERS CLUB
Posts: 9,914
Likes: 0
Received 0 Likes
on
0 Posts
And a further £50M to China. And the b@stards have just refused yet again to write off the Humber Bridge debt, so that Cancer patients from the south bank have to pay an extra £5.40 for their treatment, while prisonersin Hull Jail's wives, girlfriends mates and families can cross for free
Lying Labour B@stards!
Alcazar
Lying Labour B@stards!
Alcazar
#22
Scooby Regular
Join Date: Jan 2000
Location: Disco, Disco!
Posts: 21,825
Likes: 0
Received 0 Likes
on
0 Posts
Yes, it sems that way doesn't it
try for a real eye opener
https://www.scoobynet.com/non-scooby...ml#post7623708
try for a real eye opener
https://www.scoobynet.com/non-scooby...ml#post7623708
#23
Scooby Regular
Join Date: Jul 2005
Location: N.Y.S.O.C. - NORTH YORKSHIRE SUBARU OWNERS CLUB
Posts: 9,914
Likes: 0
Received 0 Likes
on
0 Posts
Yes, it sems that way doesn't it
try for a real eye opener
https://www.scoobynet.com/non-scooby...ml#post7623708
try for a real eye opener
https://www.scoobynet.com/non-scooby...ml#post7623708
#25
Moderator
iTrader: (1)
What gets to me is I am on a low income, so will likely be in the worse off bracket. I have no problem that those earning more than me may benefit, good for them for being in a better position than me (I mean that sincerely, not sarcastically). What does bother me as I will be worse off, and as I'm already not earning alot, I will be technically contributing more to those who know how to play the benefit game, not working at all.
I work hard, and don't want a lecture about 'get a better paid job', but I think it's unfair I will be paying more to those unwilling to work. Just to make it clear I don't think people earning more should foot the bill, I have an overall problem with the benefit system but thats another story.
I know this is only partially where tax goes, but it is the part that gripes me quite a bit.
I work hard, and don't want a lecture about 'get a better paid job', but I think it's unfair I will be paying more to those unwilling to work. Just to make it clear I don't think people earning more should foot the bill, I have an overall problem with the benefit system but thats another story.
I know this is only partially where tax goes, but it is the part that gripes me quite a bit.
#27
Yes because NI band is increasing.
At the moment you pay 11% upto £34840 and then 1% afterwards. From April you will pay 11% to £40040 and then 1% afterwards.
Meaning the gain in income tax, is taken up and more by them moving the threshold for NI.
And hence why £35000 is the sweet spot for maximum gain
The year later 09/10 the IT and NI will be brought in line so again it wont make much difference, ie 40% set at £43000, NI set at £43000
So what you gain in IT, you'll lose in NI
Sneaky
At the moment you pay 11% upto £34840 and then 1% afterwards. From April you will pay 11% to £40040 and then 1% afterwards.
Meaning the gain in income tax, is taken up and more by them moving the threshold for NI.
And hence why £35000 is the sweet spot for maximum gain
The year later 09/10 the IT and NI will be brought in line so again it wont make much difference, ie 40% set at £43000, NI set at £43000
So what you gain in IT, you'll lose in NI
Sneaky
#28
With the 40% tax band set to be increased to £36000 (+£5435) so £41345 in total (Not confirmed until next month but this is what has been planned)
Someone earning
£40,000...an increase of £1.16 per month.
£41,000...a decrease of £32.55 per month.
£42,000...a decrease of £25.30 per month
And from then onwards,ie £43,000/£44,000 etc a decrease of the same £25.30 per month.
This will be right for year 2008/9.
But will change slightly when NI and IT are brought in line with each other in 09/10.
In 09/10, You'll gain in IT going to around £43000, but then you'll lose by NI going to the same £43000.
It will then be finally alligned and move up together from then onwards
Someone earning
£40,000...an increase of £1.16 per month.
£41,000...a decrease of £32.55 per month.
£42,000...a decrease of £25.30 per month
And from then onwards,ie £43,000/£44,000 etc a decrease of the same £25.30 per month.
This will be right for year 2008/9.
But will change slightly when NI and IT are brought in line with each other in 09/10.
In 09/10, You'll gain in IT going to around £43000, but then you'll lose by NI going to the same £43000.
It will then be finally alligned and move up together from then onwards
Last edited by Mitchy260; 05 February 2008 at 09:04 AM.