More Stealth Taxes

[Satch]

Two weeks after Alistair Darling's delivers his rubbished pre-budget report the National Insurance thresholds are very silently revised. This is despite the fact that in 2006 and earlier years the NI adjustments were first announced in the pre budget report

Right now NI is charged at 11% between £5,200 and £34,840.

From 6 April 2008 imits are £5,460 (+5%) and £40,040 (+16%!)

So earn £40,040 or more and your NI charge will rise from £3,320 to £3,814: another £494 taken in tax that will rake in a further £4.5Bn in 2008/9. All to be spent wisely of course.

No mention of this by Darling. Nor the fact that the Treasury has published a paper on linking Income Tax/NI that will push this up further.

This sort of thing really annoys me!

 

[recycled]

probably not enough people are speeding this year.
hence the need for more cash.

Btw ot
Is dieselman still with us?

 

[Aletank]

So at the moment if you earn £34,840 you are charged 11% on earning over £5200.
After April 08 would you be charged just 5% on earning over £5460 ?
Thus giving that if you earn less than £40,040 your alot better off

 

[television]

probably not enough people are speeding this year.
hence the need for more cash.

Btw ot
Is dieselman still with us?

I have stopped for one

 

[recycled]

great as i only earn £10000 .i will be laughing

 

[Gucci]

Damn it. I'm going to steal something to offset my tax.

 

[verytalldave]

Two weeks after Alistair Darling's delivers his rubbished pre-budget report the National Insurance thresholds are very silently revised. This is despite the fact that in 2006 and earlier years the NI adjustments were first announced in the pre budget report

Right now NI is charged at 11% between £5,200 and £34,840.

From 6 April 2008 imits are £5,460 (+5%) and £40,040 (+16%!)

So earn £40,040 or more and your NI charge will rise from £3,320 to £3,814: another £494 taken in tax that will rake in a further £4.5Bn in 2008/9. All to be spent wisely of course.

No mention of this by Darling. Nor the fact that the Treasury has published a paper on linking Income Tax/NI that will push this up further.

This sort of thing really annoys me!

Now thats a surprise. Not something Labour is known for.

 

[Satch]

So at the moment if you earn £34,840 you are charged 11% on earning over £5200.
After April 08 would you be charged just 5% on earning over £5460 ?
Thus giving that if you earn less than £40,040 your alot better off

Nooooo....

That 5% is just the uplift on the lower limit

 

[recycled]

So at the moment if you earn £34,840 you are charged 11% on earning over £5200.
After April 08 would you be charged just 5% on earning over £5460 ?
Thus giving that if you earn less than £40,040 your alot better off

11% from 5460 to the upper earning level 40040

actually now it is 11% on 5225-34840= 3257

 

[Aletank]

great as i only earn £10000 .i will be laughing

As I read it now your first £5460 will be charged 5% (£273 per year) So thats £273 per year worse off!!

 

[Merc-C180K]

My accountant says I only earn £5k per year...

 

[recycled]

As I read it now your first £5460 will be charged 5% (£273 per year) So thats £273 per year worse off!!

i will only pay 11% on 10000-5200 as the first 100/week is Ni free
=528
so to 5460 = £499 as the first 104.49/week will become Ni free

everyone has first 5225 NI free except if you are self employed 8% on 5225-34840

 

[R2e]

My accountant says I only earn £5k per year...

Me too. Don't you just hate these rich plutocrats moaning on about their tax The Chancellor's just moving the band a little to catch all the PAYE people.

 

[recycled]

That is why it pays to be poor like me.
You give less of your money to the government and you can claim all types of help like whatever i can not remmember now.

 

[Merc-C180K]

Me too. Don't you just hate these rich plutocrats moaning on about their tax The Chancellor's just moving the band a little to catch all the PAYE people.

It's tough on the breadline. :bannana::bannana:

 

[R2e]

That is why it pays to be poor like me.
You give less of your money to the government and you can claim all types of help like whatever i can not remmember now.

Not Porsche Tax Credits and Mercedes Tax Credits?

 

[c240yaz]

so why do people keep voting these people in to government ?

 

[recycled]

lesser of two evils.
anyone is better than kennedy raise the taxes lib dems
or tory cut the taxes so we can make the poor poorer

 

[DITTRICH]

Me too. Don't you just hate these rich plutocrats moaning on about their tax The Chancellor's just moving the band a little to catch all the PAYE people.

A few years back it was an extra 1% employee NICS on all earnings above the upper earnings limited as a "one off" to fund the NHS. Now the upper earnings limit is being fiddled! An extra £500 for what?

In 1997-8 government tax receipts approximately 315billion
In 2007-8 government tax receipts approximately 550billion

Errors in me extracting the numbers off the net aside, inflation has been around 3% RPI for the last 10 years or so...
You do the maths...
315 x 1.03 x 1.03 x 1.03 x 1.03 x 1.03 x 1.03 x 1.03 x 1.03 x 1.03 x 1.03
=423
Tax receipts now 550
Difference = 127billion

Personally, I think individuals are far better placed to decide how to spend their well earned dosh.

Les

 

[television]

My accountant says I only earn £5k per year...

Must be the accountant that I used to use I made it clear back in the 60's that I could see no real benefits from joining the "Inland revenue Club"