This 10p Tax thingmy

[sylvianorth]

Originally Posted by djtoast

for clarity, nobody pays tax on the first £5,225 they earn - so it was 10% on the first £2,230 after that, etc

Sorry to go off topic but, whit? I doubt I've ever earned more than that during uni and have always paid tax, and pay 25%(ish) tax on my second job (bar work).

[endless psych]

Originally Posted by sylvianorth

Sorry to go off topic but, whit? I doubt I've ever earned more than that during uni and have always paid tax, and pay 25%(ish) tax on my second job (bar work).

Thats in this years budget...

It was 4888 or something last year or the year before... ...I forget.

[Rowsbette]

Originally Posted by mischief

Do it online, easy and it does the calculation for you.

Aha! Cheers. Although it probably isn't easier than making my mum a nice dinner in exchange for her doing it.

Originally Posted by sylvianorth

Sorry to go off topic but, whit? I doubt I've ever earned more than that during uni and have always paid tax, and pay 25%(ish) tax on my second job (bar work).

I think when you're a student you only get the decent low tax-code on your first job, then any other jobs you get you pay basic rate on your wages. I pay basic rate on my main job because I got it after my first job - in a way it's a bit crap cos I only do 4 hours a week in my first job, and about 15-20 in my second, but I don't mind since I can claim it all back. Seems more hassle than it's worth to try and switch codes, and it's a sneaky way of saving without realising, since you end up getting a lump sum when you've sent your forms in.

So aye, get yourself some forms to claim it back!

[Semprini]

Originally Posted by sylvianorth

Sorry to go off topic but, whit? I doubt I've ever earned more than that during uni and have always paid tax, and pay 25%(ish) tax on my second job (bar work).

2nd job will be taxed at basic rate as a matter of course, although if you know in advance you won't use your full personal allowance at your main job you can use the excess on the 2nd job.

The way the system works, (and I'm simplifying hugely here) it assumes you'll be working the whole year, so it's not like you get the first £5435 tax-free, you get 1/52 of it each week. That may be why you've paid tax despite earning less overall.

Originally Posted by endless psych

Thats in this years budget...

It was 4888 or something last year or the year before... ...I forget.

£5225 last year, £5035 the year before, £look it up yourselves you lazy bunch of cunts before that.

Originally Posted by mischief

Do it online, easy and it does the calculation for you.

These are wise words. Also, do it well before the deadline, because the computer systems are shit and will crash in January. This is not up for debate.

Originally Posted by Rowsbette

it's a sneaky way of saving without realising, since you end up getting a lump sum when you've sent your forms in.

So aye, get yourself some forms to claim it back!

Tax rebates: there's a small moment of euphoria, before you're overcome by the growing feeling of "It was my money to begin with!"

[catherine]

Originally Posted by Rowsbette

Aha! Cheers. Although it probably isn't easier than making my mum a nice dinner in exchange for her doing it.



I think when you're a student you only get the decent low tax-code on your first job, then any other jobs you get you pay basic rate on your wages. I pay basic rate on my main job because I got it after my first job - in a way it's a bit crap cos I only do 4 hours a week in my first job, and about 15-20 in my second, but I don't mind since I can claim it all back. Seems more hassle than it's worth to try and switch codes, and it's a sneaky way of saving without realising, since you end up getting a lump sum when you've sent your forms in.

So aye, get yourself some forms to claim it back!

Its not ahrd to switch codes.

I did it when i realised i was working more in my second job. all it took was one phone call to Option 1 (i forget if thats what its called, i always ask my dad)

was a hell of a lot easier than hoping they pay you the difference back at the end of the year.

they automatically gave me back everythign id over paid, plus took my contract into consideration and how much id earn the rest of the year and took the tax i should pay off what they gave me back. This meant cause id already earned over the £5000 ish mark that i wouldnt have to just start paying tax on everythign i earned.


ive had 2 jobs most of my uni life and it took them 2 years to pay me back my extra cash... im hoping this means over the next 2 years im still going to get surprise amounts though.


Oh and on the note about students getting a low tax code???

Being a student makes nooo difference to what you pay tax wise. i thought everyone has the basic code rule on their second job? student or not

so many people try tell me oh but you shouldnt pay tax your a student.

or look down their nose at you saying its their taxes paying for my education. its like go jump off a bridge. i pay taxes and dont get a loan.

[Witch]

apparently im better off by about 720 quid next year

[Semprini]

Yeah, that "I'm a student, so I don't have to pay tax" line of argument drives me insane, idiots.

[GoddamnElectric]

I saw an extra £10 in my wages this month. Felt like a king.

[Tacky]

Yer paying 20p on every pound. there.

[djtoast]

why, did you get it for being a bumbling oaf from greece who likes making racial slurs in public?

[Rowsbette]

Originally Posted by catherine

Its not ahrd to switch codes.

I did it when i realised i was working more in my second job. all it took was one phone call to Option 1 (i forget if thats what its called, i always ask my dad)

was a hell of a lot easier than hoping they pay you the difference back at the end of the year.

Thanks, but I'm quite happy staying with my current tax codes. I never get myself into a position where I desperately NEED that tax money back, so just knowing I'll get reimbursed at some point is enough for me. If I was getting a little extra in my paycheque due to switching tax codes I'd just end up spending more everyday.

Originally Posted by catherine

Oh and on the note about students getting a low tax code???

Being a student makes nooo difference to what you pay tax wise. i thought everyone has the basic code rule on their second job? student or not

I know that, I was just saying students don't pay much tax on their first job. Although I assume that's just because it's expected they don't do as much paid work throughout the year.

[azriel]

Originally Posted by Rowsbette

I know that, I was just saying students don't pay much tax on their first job. Although I assume that's just because it's expected they don't do as much paid work throughout the year.

Yeah, students have the same tax allowance as everyone else, they just tend to earn less during the year what with working part time and whatnot, which makes it look like they pay less tax than everyone else.

[crusher]

But yeah, it'll screw people earning lower amounts. Not a very socialist move from a "Labour" former chancellor / prime minister.

It may have escaped your notice but the last time the Labour Party did anything that could even be remotely classed as 'socialist' was in the days of Neil Kinnock.
Since that time the Labour party have been taken over by conservative politics and are now more right wing than the tories !!!l

[lu.]

ive just seen something on the news about gordon brown now planning to compensate people who lost out with the 10 p tax rate. its on news 24. i dont get that...compensate as in change the decison or what? i heard a quick snippet on the radio, news 24 ive just checked headlines

[Tacky]

(just worked it out)

Was gonna put the link of a great site i found in but i deleted the tab! Anyways, £30 a year better off. Dont worry - i'll give whatever this is divided by 12 to my gran towards her winning something at the bingo!