£23/month more take home
40% tax band
- Thread starter borich_planner
- Start date
![[FnG]magnolia](/styles/overclockers/avatars/9.png){kind=avatar}
Caporegime
- Joined
- 29 Aug 2007
- Posts
- 28,859
- Location
- Auckland
tax blows
this is one of my customers personal tax bills! lucky so and so
I had to work backwards from the decimal point to work out just how large that was
Well, that's certainly a thing. Wow.
Soldato
- Joined
- 28 Nov 2004
- Posts
- 16,024
- Location
- 9th Inner Circle
Some people are better off others aren't. It's no big deal really. If you happen to be in the higher earnings bracket and this has any kind of serious effect on you then you must be living to the bone.
No you are not correct - take a look at your last P60 - there is a personal allowance... you'll be taxed on any amount over personal allowance + 35k.
Man of Honour
- Joined
- 5 Jun 2003
- Posts
- 92,031
- Location
- Falling...
Luckily for you you won't be in it OP. 
Soldato
- Joined
- 30 Mar 2007
- Posts
- 2,897
- Location
- Essex
I have a quick question for you guys ,
I earn £42,000 basic . Some years I get a Bonus some I years i dont but if I do it generaly gets taxed at 40% , this i just accept but as rule I pay the basic rate of tax .
Now here comes a quick question for you , I pay child maintenance to me ex-wife of something in the region of £500 a month , she has re-married and had another child with her new husband . Will my income effect her child allowance from the goverment beacuse i earn £42,000 or will she be assed on her and her new husbands combined income ?
I earn £42,000 basic . Some years I get a Bonus some I years i dont but if I do it generaly gets taxed at 40% , this i just accept but as rule I pay the basic rate of tax .
Now here comes a quick question for you , I pay child maintenance to me ex-wife of something in the region of £500 a month , she has re-married and had another child with her new husband . Will my income effect her child allowance from the goverment beacuse i earn £42,000 or will she be assed on her and her new husbands combined income ?
I would have thought that as she has remarried, her circumstances are assessed with her new partner. You only pay for the child, not her maintenance and you are a seperate legal entity now. Therefore her child allowance should be unaffected unless either her or her husband are higher rate taxpayers.
![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
Nice try there, Spie!
Isn't income limit for personal allowance £100,000, meaning that PA is scrapped at that point?
http://www.tax-calculators.co.uk/incometaxbands.html
2 years? I'd have thought that the new tax year would clear that up. It did for me last year. However, I have been paying BR all this last tax year, which means a nice 'bonus' for me soon
2 years? I'd have thought that the new tax year would clear that up. It did for me last year. However, I have been paying BR all this last tax year, which means a nice 'bonus' for me soon
You would think that!
I went 2 and a half years paying BR tax :/
A nice little 3K bonus when I found out though
Soldato
- Joined
- 22 Oct 2004
- Posts
- 9,087
- Location
- Berkland
worst "i get paid more than 35k" thread ever.
You would think that!
I went 2 and a half years paying BR tax :/
A nice little 3K bonus when I found out though
Exactly the same situation. He's on the 'BR' code...god knows how they messed it up. Apparently that code is reserved for pensions / 2nd jobs etc
As I recall, off the top of my head, it's tapered by £1 for every £2 you earn above £100k, so it eventually falls away at about £115k.
This also means that there is effectively something like a 60% tax band in that bracket.
Soldato
- Joined
- 28 Oct 2003
- Posts
- 5,511
- Location
- Worthington-on-sea
Not scrapped but it does decrease by £1 for every £2 earned over the £100,000 limit.