You are allowed earn more now before tax.
- 3 September 2008 07:075611This is part of the latest news from HMRC....
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"
HM Revenue & Customs (HMRC) has issued a reminder about this month's change to the 2008/09 basic personal income tax allowance.
The change, announced by the Chancellor in May 2008, will mean most people under 65 who pay tax at the basic rate will see an extra £60 in their first pay packet on or after 7 September, and a £10 increase in their take-home pay each month after that until next April. Those paid weekly will get £53 the first time the increased allowance is used, and then receive £2.30 extra a week until April. The exact increases depend on how much tax they have already paid in 2008/09.
For most people the change is straightforward; their employer or pension provider will make all the necessary changes to their tax code. They will not have to do anything and don't need to contact HMRC. "
"....This follows the increase in the basic Personal Allowance for 2008/09 by £600 to £6,035."email: dover7@msn.com - 3 September 2008 07:125612Good old labour party
- 3 September 2008 07:165614Eureka!
A few extra bob for the lower paid if Im absorbing all that right. There was much more in the info pack but have cut it down for easy digestibility. These are obviously the extra measures kicking in after the 10p tax fiasco earlier in the year, where the government abolished the tax relief for the very low paid. It caused uproar as you might remember. They didnt spot the clanger themselves but rushed to make amends with the measures you see kicking in now.
Anything extra in the wage packet will be very welcome in these hard times of rising prices.
The government took steps to kick start the housing market yesterday too. I think most fair minded people would recognise that the present economic pinch we are all feeling has little to do with our internal situation here in the UK..ie ..all our crippling price rises are stemming from overseas. Its all those nasty foreigners to blame!email: dover7@msn.com - 3 September 2008 07:355617LABOUR STARTS THE FIGHT BACK
Gordon's here to stay!! - 3 September 2008 09:035622Keith - are you serious or do you really have that bad a memory.
This was the change forced on Brown backtracking over the getting rid of the 10% rate. Even with this change around 1,000,000 people will still be worse off than last year! (That number allows for those for who he has increased other benefits.)
To have fully compensated the low paid he would have had to increase the nil rate band to £7,435. Anyone earning between £6,035 and £7,435 is worse off than a year ago and if they are paying into a personal pension are worse off still....
PaulB. You really are grasping at straws in defending the Government. They did know the impact it would have over a year before it was introduced, they were told by financial advisers and economists, not to mention the Opposition. They were told again 6 months before the change, again a month before the change. Only after the start of the tax year and faced with a backbench rebellion and the loss of the Crewe by-election did Brown cave in. Brown was obstinately claiming no-one would lose out days before he caved in despite the mass of experts telling him the truth. - 3 September 2008 09:055623Keith. Really, another fightback started? So when is the next one due to start given that from the reaction to yesterdays news this one has faltered already?
- 3 September 2008 10:115626Can't wait for the next spin-tastic, power-at-all-costs re-re-re-relaunch of Grim-don McBroon, the Prize Chancer and dark destroyer of the once-proud nation.
Sorry did I say 'I can't wait'? I meant 'I can't wait to emigrate'. - 4 September 2008 16:435654Free Bus passes,free swimming,stamp duty holiday, extra fuel payments for Senior Citizens, next will be windfall tax on the power Companies and do away with financial advisers,that one is my idea not G.B.Things are on there way back sslowly Barry you must hate it.If you knew what I know,we would both be in trouble!
- 4 September 2008 18:315657I'm loving it John. We see Charles Clarke's demolition job and utter chaos in the Labour party with everyone knifing each other in the back.
Gordon Brown's mismanagement of the economy, sadly is really biting. Not enjoying that so much because of the pain he has caused but we did warn the public what was happening....
The OECD's recent report destroyed his still repeated absurdity about how well placed the UK is to weather the downturn. Remember him says that he ended boom and bust, it was a daft statement?
Chickens have come home to rooste.
We now see him interfering with the Treasury and bringing out panic measures, scrabbling around and demonstrating that he has no idea how to handle things.
He will not, under any circumstance, do what is necessary to stimulate recovery, that by now is clear. Look at what he is doing, sticking plasters, thats all. The fools letting it out in early summer that stamp duty might be suspended and then doing nothing til now, that was massively damaging to a struggling housing market. John Major tried somthing similar in 1991 and it had little or no effect and it will be no different now.
Windfall taxes, well what a good way to wipe out future investment from abroad. I hope still that he wont be that stupid.
As for the railways. Time to close them and turn the rail routes to dedicated lorry roads.... (touche' John....)