Big hole blown in wallet..
 

..sadly not on anything red, fast, or italian.

Tax Bill for £2700 on the doormat waiting for me when i got home. :(

Bugger.

Bugger indeed!

Going to the AGM tomorrow mate?

nah, cant afford the bus ticket now :mad:

(but spending sunday in the garage sorting oil leak and TD kit if you wanna pop round)

So you got the OPS then, cool.

Not sure what time I'll be back from the far north on Sunday, we're taking the kids up to the AGM, not that they'll actually be in there, but we're staying up there overnight and doing touristy stuff Sunday.

I've got stuff to do to the van on Sunday though so might be convinced to bring the van around and do it at your garage.

Hello,

Jason, sorry to here the news, I am around after lunch if you need a hand, fitting my rear shock in the morning if all goes well.

regards

TopiToo

yep, OPS and cartdrige from Nelly, seat unit bits from JHP, fuel pump from Lily, and filler cap from chap who used to be on this board...

But with a whopping tax bill they could be my "bling" purchases this year! dont think i can afford that DD corporate hospitality package you were offering now :o

And in six months time, part two:(

oh bugger.. now i feel guilty for putting your cheque in the bank :(

Am i the only fortunate person that always gets a tax refund not a tax bill?

I only got one because now you have to pay a further 50% in advance.
If I was late, they would charge me interest. Yet they can have my money interest free!!!!!!!!!

tax..i have to pay 30% ( and 40% this time of year) every month!

That means every third day i work is for nothing!!

how true.;)

how true.:pig::D

Jason, are you exempt from paying tax then? :lol:

so what do you do with the other 6 days
sleep in the car on the watford gap services:lol::lol::lol::lol::lol::lol:

6 days..I think you find i only ever do a max of 4 in a row!:pig:

I thought you either paid 40% a year or didn't!!!:puzzled:

My understanding is you pay the rate applicable to what your earnings are.

So if your a lowly paid P/Person earning 26000 p/a you would pay normal rate. If towards the end of the year with overtime you moved into the next tax bracket ( which i believe is at 33000 and above- to 40%) you pay that rate on whats over that banding.

But you said month to month, when your real earnings can't be worked out till the year end.

My gross for the year appears every month on my wage slip, going up as the year goes on.

All i know is that as you get to the end of the financial year say jan/ feb/mar monthly wages if Overtime is offered and due to your earning so far in the year you are aproaching the level of the next tax bracket, you will pay the higher tax on those earnings putting your gross above that level.

This may well be as a result of what your annual salary is, you cannot predict the extra like overtime.

Lowly... that's not a bad salary is it?

compared to who and what?

Your words Andy, not mine.

"My understanding is you pay the rate applicable to what your earnings are. So if your a lowly paid P/Person earning 26000 p/a you would pay normal rate."

Personally I dont think 26k is that low, in fact for many it's a good salary.

Ok. This thread was about paying tax.or more precisely the reluctance at having to pay tax.

My contribution was to agree with those sentiments and how they affect me.

I am more than willing to discuss what in my case is a well documented salary scale. I havn't met anyone yet that didnt believe they should be paid more.

I believe (and accept) others on here probably wouldnt want to discuss or disclose a) what their salary is, and b) whether their role justifies it.

Im sure theres an ongoing thread relating to tube train drivers? £30,000, ill have some of that!

Who's worth more the doctor or the Dustman?

The doctor, right?

My dustman won't even come down to my house. I have to take the rubbish, in the back of my car, up the track to the road!

Mind you, neither will the doctor. I have to haul my sick ar$e to her surgery.

I'm stuck. What's the answer Andy? :D:P;)

Ooh, is this worthy of a prize? :o

;):lol::lol:

Some people do things for no reward at all, Andy. Clearly, you're not one of them! :lol::lol::lol:

And what's this about 4 days in a row? Not a bad salary you're on for part-time work! And you get to retire early.
My heart bleeds for you. :devil::P:lol:

XX

[Edited on 12-2-2005 by Redruth]

easy tiger!:P Were so busy, buisness is booming!:lol:

Just the 13yrs and 6 months 3 days to go..............

That long eh?
6 yrs 10 months 25 days to go....
:P

.and God willing, you wont see me for dust! :burn:

I may be wrong here, but I thought Jason was refering to the fact that he has to pay his tax bill. This would mean he is self employed and not on P.A.Y.E. That would also be the first part of it, the second part due in July. Its not the amount, its the time of year and the fact that you could have had a fantastic year last year. Then go and have a crummy year this year.
But unlike those on P.A.Y.E. He has got to pay his tax plus 50% more based on predicted profits. (based on last years accounts). So you see, he ends up paying the taxman in advance of his earnings.

Sorry Jon, no I'm a permie so on PAYE. Just that a while back I got a redundancy pay-out (I took em to the cleaners!) that as it happens had only basic rate tax deducted. It was only in my last tax return that I realised, thus the big bill.

do you know that it's cleared yet???!!!! :frog:

I'm sorry if I appear to be the voice of reason here, Jason, me ol' china, but it isn't that complicated to work out what tax is due. There are 2 things that are certain in life, death and taxes. You must have known you'd underpaid on a redundancy pay out :rodent:

Glad you are once again a 'permie', though. Moral of the story, ask the Inland Revenue for a tax guide, (they're free) do a simple calculation and don't get caught short again Boswell (how are those Angels doing, BTW? ):lol:

;)

That must have been some payout!
From my hazy memory of my tax exams several years ago, the first £30k of redundancy settlements are tax free.

If £2.7k was owed on the difference between basic and higher rate then it sounds like your total payout would have been about £46k.

You do have my sympathy Jason - but only if you are buying!

I believe Chicken's right, unless the redundancy is being considered as normal pay (it can be where redundancies are not "genuine", eg a pre-arranged handshake at the end of a fixed term employment - this is meant to close a tax loophole).
If your redundancy was less than £46K, you need to find out whether the payment was treated correctly for tax purposes. Good luck.

Er, £46K, not £46. D'oh.

[Edited on 13-2-2005 by Loz]

The dangers of giving away a little bit of information to people who can work out that actually Jason, you should have been buying the drinks all of last year!
:lol::lol: