Page 1 of Does anyone understand the Tax System?

Im not happy guys.
After my first full months work in my new job with higher wages (£125 pm)
I am only £50 a month better off - how can the tax man take a £75 cut of this small rise per month?
Is it worth investigating?
Also where do I stand on a tax rebate from Jan 02?
I wrote to the IR a year ago to enquire as I was being charged BR tax for 4 months where i worked. After 5 months they wrote back and aske dme to send paperwork to supposrt this. i sent them all the payslips and notes i had on this. 4 months later I got a letter asking if i wanted to continue this claim - then i was to send in my evidence!!! I`d done this 4 months earlier! I rang and told them so, and they said well get in contact with your old company and get them to send the information!
What do I do? is it worth chasing up my old company to find out when the IR have just lost all my paperwork i had?

Have you perhaps tipped over the tax bands. Once you start paying the top slice at 40% you will just feel you are working for nothing. Also are you including National Insurance as I think this has just gone up as well.
The IR is supposed to be more user-friendly ha ha
Also keep chasing your old company they should have copies of all your paperwork and keep a photocopy.
This link shows the tax allowances and bands of tax if thats any help.
I`m sure somebody here will come up with some more help

http://www.inlandrevenue.gov.uk/rates/it.htm

Sue

Yeah -

You work your bollocks off trying to give your family a good standard of living.

You cant EARN without being Taxed
You cant SPEND without being taxed
You cant SAVE without being taxed (well you can but not alot)
You cant HAVE a PINT without being taxed
You cant DRIVE without being taxed.
Theres loads more.

Basically this is a s***e country for living in when it comes to our tax system which funds all the beaurocracy and bullsh*t in the govt.

I`d love to know the `REAL` %age of tax that the `average` person pays and what he/she is finally left with.

Neil

Even the Tax Office don`t understand the Tax System. I`ve lost count in the past year how many times my wife has called them about tax matters, is given advice and then gets a letter a few weeks later telling her the complete opposite!!!!

If you think of the tax you pay (both direct and indirect) as days and months instead of a percentage - it really hits home how much we`re shafted. The `Tax freedom day` last year fell on 5th June!

So, basically you are working for the Government until then and only after that are you working for yourself. Any bets on how it will be before we work for them for longer than we work for ourselves? See this link:

http://www.taxfreedomday.co.uk/taxing-times2003.htm

Since Labour came to power we are paying £126 billion more in tax - but what have we got to show for it? It`s an absolute disgrace.

This item was edited on Friday, 27th June 2003, 17:51

You know what they say about death and taxes.
And going by this current thread it seems the other certainty is that no-one is certain how it works!

For anyone who`s interested (or bored!) ...I`ve written a little spreadsheet for basic tax calculations...based on annual earnings.

Get it from here

NOTE: It`s virus free (from me anyway!) - but I always advise people to check it
It`s relatively accurate, but it doesn`t use the tax tables that the tax office use, just the straight forward percentage calculations

It`s been updated for the 2003/04 tax year

Miles

This item was edited on Friday, 27th June 2003, 23:26

Not there at the moment. Basically my tax is shafted. before I went perm (about three months ago) I was contracting for three to four years. talkign about f***ed up tax! Some years I didn`t even get a P60. The tax office themselves (why the f*** is mine in Southampton when I`m in Bristol) reckoned they owned me to the tuen of hundreds, but because many of the angencies I worked for have since gone under or just ingnored me it was impossible for me to get any money back.

I`ve only had one rebate in my life (in spite of many month off of work without claiming pikey dole) and that was ony £400 odd. I used to earn over £500 a week contracting, and I`d take home £300 if I was lucky. As you might imagine I have a particular dislike for pikeys and tax dodgers...

The file`s there now

The tax office can be a nightmare...but I spent a year and a half working as an accountant early on, so I understand quite a bit of it. Also, my grandmother used to be a tax officer.

You just have to remember to keep EVERYTHING...and then know a good accountant! :o)

This item was edited on Friday, 27th June 2003, 23:22

Aye, tis working now. It got mine a tad wrong (I`m on about a fiver more per week), but it`s very handy. I`m getting a £100 per week pay rise soon, which should be nice, and take me back up to the level of pay I`m used to. I`m not greedy, but I think anyone with half a brain and the gumption not to sit on their arse all day watching Trisha should be able to earn at least £300 per week (I`m talking about Bristol here - I realise geographical location comes into it).